Report 7 – Released on February 13, 2020

Butter prices in Oceania are mixed. Low range prices are down slightly. Top range prices moved higher. Near term March demand contributed to price strength as some buyers decided to increase purchasing. There was increasing concern with lower stocks as seasonal milk production decreases. Less interest in activity for April weighed on prices and led to a decline in the price range.

Buyers with some time and sourcing flexibility are also shopping around Western Europe for butter, as pricing is often lower there. This factor may also have contributed to weakening the lower Oceania price range.

 Oceania, 82% Butterfat, Free on Board - Port Butter
     Price Range - $/MT:                          4,200 - 4,300


     Information for the period February 3 - 14, 2020, issued biweekly

Secondary Sourced Information:

At GDT event 253 on February 4, the butter all contracts price, $4,258, increased 0.2 percent. The March contract, $4,278, increased 1.3 percent.

Butter exports from Australia January – December 2019, 17,000 MT, are 7.2 percent higher than calendar year 2018, according to CLAL data made available to USDA. Butter imports decreased 3.1 percent.

Butter exports from New Zealand January – December 2019, 464,000 MT, increased 1.8 percent from calendar year 2018 according to CLAL data made available to USDA.

     Published by:
     Dairy Market News - Madison, WI
     Eric Graf, 608.422.8590
     Email: Eric.Graf@usda.gov

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