Report 29 – Released on July 22, 2021

Western European butter prices moved lower at both ends of the price range, while the pricerange for butteroil narrowed. Industry contacts suggest a few manufacturers and some traderslooked to sell off part of their butter stocks. The challenge, they found, is that there isplenty of butter on hand and buyers are not too eager to take on more volumes. There is nourgency to make butter purchases.

Food service demand has grown as restaurants have reopened in some areas, but with manyEuropean workers going on holiday, retail butter demand has dried up. In addition, renewedlockdowns in other areas, challenges accessing export markets and market uncertainty havecreated a weaker market tone for the European butter market. Industry contacts hope activitywill pick up once summer holidays end.

Western Europe, 82% Butterfat, Free on Board - Port Butter
     Price Range - $/MT:                          4,350 - 4,950


     Western Europe, 99% Butterfat, Free on Board - Port Butteroil
     Price Range - $/MT:                          5,475 - 6,250


     Information for the period July 12 - 23, 2021, issued biweekly
     Published by:
     Dairy Market News - Madison, WI
     MIKE BANDLI, (608)422-8592
     Email: mike.bandli@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
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