Report 47 – Released on November 23, 2021

Western European butter prices are steady at the bottom of the price range but lower at thetop of the price range. Butteroil prices firmed. Butter prices tend to be highest inGermany, followed by Netherlands, then Italy.

Late season milk is still flowing into churns. Butter remains profitable in Western Europe. Coupled with normal, steady demand for butter, pricing is not under pressures evident withsome other Western European manufactured dairy products. Moreover, stocks on hand providesome cushioning to handle new orders.

Bulk butter demand is quiet. Industrial cream remains available as needed. Most buyers arebelieved to have placed orders for needs through 2021. Discussions for Q1 2022 contractingare slow to finalize. Development of the milk supply remains a known unknown, as too withpotential COVID measures by governments and industry. Recently heightened restrictions inBavaria and Austria are signs that this situation remains in flux. Finally, export inquiriesfor 2022 are slow to come forward.

Western Europe, 82% Butterfat, Free on Board - Port Butter
     Price Range - $/MT:                          5,925 - 6,175


     Western Europe, 99% Butterfat, Free on Board - Port Butteroil
     Price Range - $/MT:                          5,900 - 7,600


     Information for the period November 15 - 26, 2021, issued biweekly
     Published by:
     Dairy Market News - Madison, WI
     Eric Graf, 608.422.8590
     Email: Eric.Graf@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