Report 23 – Released on June 04, 2020

Oceania butter prices are lower. Manufacturers in the region say that buyers mostly have their needs covered for the near term. Churning schedules are at a low point in the seasonal cycle. This follows the trend of seasonal milk production, as well as competing demand for other cream utilizing dairy products. Current butter production primarily comes from New Zealand, rather than Australian butter manufacturers. Another factor leading to weaker markets in Oceania is that butter is less expensive in Western Europe, even factoring in shipping costs.

 Oceania, 82% Butterfat, Free on Board - Port Butter
     Price Range - $/MT:                          3,600 - 3,675


     Information for the period May 25 -  June 5, 2020, issued biweekly

Secondary Sourced Information:

At GDT event 261 on June 2, the butter all contracts price, $3,631, decreased 4.4 percent.The July contract, $3,607, decreased 6.1 percent. All contract periods show decreasing percentages.

Butter exports from New Zealand January – April 2020, 86,899 MT, declined 20.7 percent from January – April 2019, according to Eucolait.

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

     Additional Dairy Market News Information:
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     DMN Website: https://www.ams.usda.gov/market-news/dairy
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