USDA: Butter/Butteroil – Oceania in the beginning of November 2021
Report 45 – Released on November 10, 2021
Oceania butter prices are still on an upwards trajectory, supported by a strong showing atthe latest GDT event. Manufacturers are reporting stronger prices. Industry contacts relaybutter supplies are tight because of the shift in dairy production focus to cheese andcasein and the slow start to the Oceania milk production season. There is a strong buyerdemand for butter. With short supplies, end users are bidding up prices to gain access toavailable supplies and assure they cover their near-term needs.
Oceania, 82% Butterfat, Free on Board - Port Butter Price Range - $/MT: 5,125 - 5,425 Information for the period November 1 - 12, 2021, issued biweekly
Secondary Sourced Information:
At GDT event 295, on November 2, 2021, the butter all contracts price, $5,350, increased4.7 percent. The December contract, $5,385, increased 3.6 percent.
January – September butter exports from New Zealand, 288,000 MT, decreased 4.3 percent from January – September 2020, according to CLAL data made available to USDA. The main exportdestinations January – September 2021, quantities, and percent change from January –September 2020, were China, 74,631 MT, +35.18 percent; Australia, 22,285 MT, -7.11 percent;and Philippines, 19,581 MT, -4.57 percent.
According to CLAL data made available to USDA, January – September 2021 butter exports fromAustralia, 19,000 MT, increased 72.2 percent from January – September 2020. The main exportdestinations January – September 2021, quantities, and percent change from January –September 2020, were China, 4,976 MT, +158 percent; South Korea, 2,213 MT, +345 percent;and Singapore, 1,595 MT, +51.23 percent.
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