Report 29 – Released on July 16, 2020

Oceania butter prices firmed. Buyers have reported that available stocks of butter are on the tight side for the next few months until seasonal production increases appreciably. With many buyers realizing that pricing is more likely to increase rather than decrease, there is more interest in moving forward with sales to lock in stocks.

 Oceania, 82% Butterfat, Free on Board - Port Butter
     Price Range - $/MT:                          3,700 - 3,800


     Information for the period July 6 - 17, 2020, issued biweekly

Secondary Sourced Information:

At GDT event 263 on July 7, the butter all contracts price, $3,717, increased 3.0 percent.The August contract, $3,780, increased 3.0 percent.

Australian exports of butter July 2019 – May 2020, 7,147 MT, compared with July 2018 – May 2019, decreased 43.6 percent according to Dairy Australia.

Butter exports from New Zealand January – May 2020, 102,299 MT, decreased 22 percent from January – May 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:
     Dairy Market News (DMN) by Phone: (608)422-8602
     DMN Website: https://www.ams.usda.gov/market-news/dairy
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