Report 37 – Released on September 16, 2021

Oceania butter prices moved higher at both ends of the price range. Buyers from northernAsia and the Middle East bought significant volumes of butter on the latest GDT event. Astrong showing at the GDT prompted robust sales and higher prices from manufacturers. Solidretail demand coupled with increasing opportunities for exports are lending support tomarket prices. Production and inventories are still a little tight as Oceania is only a fewmonths into the milk production season.

Oceania, 82% Butterfat, Free on Board - Port Butter
     Price Range - $/MT:                          4,750 - 5,000


     Information for the period September 6 - 17, 2021, issued biweekly

Secondary Sourced Information:

At GDT event 291, on September 7, 2021, the butter all contracts price, $4,948, increased3.7 percent. The October contract, $4,956, increased 2.5 percent.J

uly 2021 butter exports from Australia, 1,818 MT, increased 56.3 percent from July 2020,according to Dairy Australia. According to CLAL data made available to USDA, January – July2021 butter exports from Australia, 15,000 MT, increased 107.0 percent from January – July2020. The main export destinations January – July 2021, quantities, and percent change fromJanuary – July 2020, were China, 4,279 MT, +260 percent; Singapore, 1,395 MT, +79.79percent; and Philippines, 1,233 MT, +243 percent.