Report 45 – Released on November 10, 2021

Prices for European butter moved higher but have not kept pace with cream prices. Accordingto some industry sources, prices for packaged butter are the highest they have been sincethe summer of 2018. Demand for packaged butter and bulk butter is still strong, butmanufacturers note a slight downturn in the number of new orders. Some sources suggestbutter needs are getting mostly covered through the end of the year, and some end users arenow choosing to take a wait and see approach. Some initial discussions are occurring forfirst quarter transactions, but buyers and sellers have differing views of the directionbutter prices will take. The price range for European butteroil has expanded, moving lowerat the bottom of the range but higher at the top.

     Western Europe, 82% Butterfat, Free on Board - Port Butter
     Price Range - $/MT:                          5,925 - 6,300


     Western Europe, 99% Butterfat, Free on Board - Port Butteroil
     Price Range - $/MT:                          5,725 - 7,150

Information for the period November 1 – 12, 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 DMN MARS (My Market News): https://mymarketnews.ams.usda.gov