Report 29 – Released on July 18, 2019

Oceania butter prices firmed, reversing an early summer trend of weaker prices. Manufacturers in the region have noted greater recent buying interest from Asia and the Middle East. Butter output is still low this early in the production season. Some plants are churning but this early in the season production is relatively low compared to where it will be in several months. Resulting tighter supplies are a significant factor creating price strength following the renewed export interest.

 Oceania, 82% Butterfat, Free on Board - Port Butter
     Price Range - $/MT:                          4,375 - 4,500


     Information for the period July 8 - 19, 2019, issued biweekly

Secondary Sourced Information: 

At GDT event 240 on July 16, the butter all contracts price, $4,406, increased 1.7 percent. The August contract, $4,480, increased 5.5 percent. Price declines are not noted until the November contract. 

Butter exports from Australia January – May 2019, 9,800 MT, were up 65.5 percent from January – May 2018, according to CLAL data provided to USDA.

 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