Report 47 – Released on November 23, 2021

The Oceania butter price range is higher, with more strength at the top of the price rangethan the bottom. This continues a four-consecutive bi-weekly trend. Butter stocks aretighter than many regular Oceania buyers have experienced. That is encouraging some buyersto lock in supplies a bit ahead of their typical schedule. Price firmness is expected tocontinue in coming weeks. Although top range Oceania pricing is higher than in WesternEurope, shipping constraints and limits in Western European supply limit the pricedifferential as yielding much variance in sourcing.

 Oceania, 82% Butterfat, Free on Board - Port Butter
     Price Range - $/MT:                          5,325 - 6,650


     Information for the period November 15 - 26, 2021, issued biweekly

Secondary Sourced Information:

At GDT event 296 on November 16, 2021, the butter all contracts price, $5,534, increased3.5 percent. The December contract, $5,620, increased 4.4 percent.