Report 33 – Released on August 19, 2021

Oceania butter prices increased, pushed forward by a strong showing on the latest GDT event.Analysts say there was more butter sold on this event than in the last event, and bidderactivity was strong. Northern Asian and African buyers bought heavily at the event. Industrycontacts suggest steady, supportive sales by manufacturers are also contributing to abullish view of butter and cream products. Retail demand has been steady and food servicedemand improving, but there are some concerns with how the latest level 4 lockdown in NewZealand will affect markets over the weeks to come.

     Oceania, 82% Butterfat, Free on Board - Port Butter
     Price Range - $/MT:                          4,600 - 4,850


     Information for the period August 9 - 20, 2021, issued biweekly

Secondary Sourced Information:

At GDT event 290 on August 17, 2021, the butter all contracts price, $4,771, increased 4.0percent. The September contract, $4,835, increased 4.9 percent.

July 2020 – June 2021 butter exports from Australia 18,095 MT, increased 119.9 percent fromJuly 2019 – June 2020, according to Dairy Australia.

January – June 2021 butter exports from Australia, 13,000 MT, increased 158.2 percent from January – June 2020, according to CLAL data made available to USDA. The main exportdestinations January – June 2021, quantities, and percent change from January – June 2020,were China, 3,845 MT, +346 percent; Thailand, 1,161 MT, +15.14 percent; and Singapore,1,125 MT, +100 percent.

Published by:
     Dairy Market News - Madison, WI
     MIKE BANDLI, (608)422-8592
     Email: mike.bandli@usda.gov

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