Report 27 – Released on July 01, 2020

Western European butter and butter oil prices are stronger. Butter prices in Germany have strengthened more than other countries. German prices are highest, followed by France,Belgium and Netherlands among some major producers. Butter manufacturers and brokers report that many buyers expect pricing to notch up into 2021, so sales tend to be readily made when buyers are ready to act.

Packaged butter demand has been strong. Retailers have noted that store sales of butter are up. This is attributed to fewer people taking summer trips abroad this summer. Bulk butter demand is also stronger. Spot market activity is noted to be more active than is typical in early summer. Contracting for Q3 is ongoing but buyers and sellers are still talking prices in many cases.

Applications for Private Storage Aid (PSA) for butter during the last reported week of the current program, June 15 – June 21, 2020, totaled 4,765 MT according to Eucolait. The total amount of butter in PSA is 54,978 MT. The top countries with butter in PSA are Netherlands,Germany, and Ireland.

     Western Europe, 82% Butterfat, Free on Board - Port Butter
     Price Range - $/MT:                          3,575 - 3,725


     Western Europe, 99% Butterfat, Free on Board - Port Butteroil
     Price Range - $/MT:                          3,925 - 4,400


     Information for the period June 22 -  July 3, 2020, issued biweekly
     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