Report 1 – Released on January 07, 2021

Butter prices in Oceania popped higher. Pricing strength is evident into coming months.Anxious buyers are back from the December holiday slumber, actively locking in supplycontracts well into the first half of 2021. Regular buyers indicate that there is no pointin waiting to be sure they are covered.

Oceania, 82% Butterfat, Free on Board - Port Butter
     Price Range - $/MT:                          4,450 - 4,525


     Information for the period December 21, 2020 -  January 8, 2021, issued biweekly

Secondary Sourced Information:

Butter exports from New Zealand January – November 2020, 380,000 MT, decreased 8.0 percentfrom January – November, 2019, according to CLAL data made available to USDA.At GDT event 275 on January 5, 2021, the first GDT event since December 16, 2020, thebutter all contracts price, $4,526, increased 7.2 percent. The February contract, $4,520increased 7.1 percent.

Published by:
     Dairy Market News - Madison, WI
     Eric Graf, 608.422.8590
     Email: Eric.Graf@usda.gov

     Additional Dairy Market News Information:
     Dairy Market News (DMN) by Phone: (608)422-8602
     DMN Website: https://www.ams.usda.gov/market-news/dairy
     DMN MARS (My Market News): https://mymarketnews.ams.usda.gov