Report 49 – Released on December 09, 2021

The Oceania butter price range contracted. Prices firmed at the low end but moved lower atthe top. The high range pull back was driven by non-GDT sales from manufacturers. Somemanufacturers who have been able to command a premium met price resistance. The low endstrength reflects active contracting as buyers work to lock in supplies, motivated bydisappointing milk production in the region so far. Few see any upside to pacing contractingin hopes of future price weakness.

  Oceania, 82% Butterfat, Free on Board - Port Butter
     Price Range - $/MT:                          5,525 - 5,900


     Information for the period November 29 -  December 10, 2021, issued biweekly

Secondary Sourced Information:

At GDT event 297, on December 7, 2021, the butter all contracts price, $5,791, increased4.6 percent. The January contract, $5,893, increased 4.9 percent.

Australian exports of butter January-October 2021 increased 60.9 percent from January-October 2020 according to CLAL data made available to USDA. The greatest increase during theperiod was butter exports to China, which nearly doubled, and are greater than total exportsto the next three export destinations combined.

New Zealand exports of butter January-October 2021 decreased 5.5 percent from January-October 2020 according to CLAL data made available to USDA. The greatest increase during theperiod was butter exports to China, which increased 23.61 percent, and which is the largestexport customer.