Report 23 – Released on June 06, 2019

Oceania butter prices moved lower. At first blush, the price weakness this late in the milk season seemed curious to some observers. Further reflection and discussion led to noting that recent milk availability has been better than initially had been expected in some quarters.

This also moves Oceania butter pricing closer to European pricing, where there is good butter availability for export markets. Also, current spot sales in Oceania are more often from traders or brokers than from manufacturers, so stocks available are not derived from current production. Current butter production volumes are quite light at this time of year.

Oceania, 82% Butterfat, Free on Board - Port Butter
     Price Range - $/MT:                          4,825 - 5,250


     Information for the period May 27 -  June 7, 2019, issued biweekly

Secondary Sourced Information:

Australia butter production data July 2018-March 2019 is now available. Seasonal production through March decreased 28.0 percent according to Dairy Australia.

At GDT event 237 on June 4, the butter all contracts price, $4,805, decreased 10.3 percent. The July contract, $5,230, decreased 6.6 percent.

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
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