Report 25 – Released on June 18, 2020

Butter prices in Oceania are mixed. The weaker low range prices reflect lower demand for contracts later this summer. The upper range strength derives from current supply needs.Overall current sales activity is quite light. Butter production is hovering around seasonal lows. Most current Oceania butter production is in New Zealand. Little production is occurring in Australia, according to plant managers.

 Oceania, 82% Butterfat, Free on Board - Port Butter
     Price Range - $/MT:                          3,575 - 3,700


     Information for the period June 8 - 19, 2020, issued biweekly

Secondary Sourced Information:

At GDT event 262 on June 16, the butter all contracts price, $3,597, decreased 1.0 percent.The July contract, $3,670, increased 1.9 percent.Australian exports of butter July 2019 – April 2020, 6,703 MT, compared with July 2018 –April 2019, decreased 42.2 percent according to Dairy Australia. January – April 2020 exports of butter, 3,300 MT, decreased 58.5 percent YOY according to CLAL data made available to USDA.