Report 37 – Released on September 10, 2020

Butter prices in Oceania are steady to higher. Demand for current delivery has increased and buyers are paying more to get stocked. The magnitude of the price increase was a surprise to some people, especially buyers who needed to stock up now. Some participants had expected weaker prices but that did not occur. Buyers who could contract for delivery late in 2020 were able to secure lower pricing. While some analysts do not think the higher prices can hold, there had been some thought two weeks ago that prices would decline. Because prices increased, discussions are actively evaluating what may happen next for near term deliveries.

  Oceania, 82% Butterfat, Free on Board - Port Butter
     Price Range - $/MT:                          3,300 - 3,675


     Information for the period August 31 -  September 11, 2020, issued biweekly

Secondary Sourced Information:

At GDT event 267 on September 1, 2020, the butter all contracts price, $3,334, decreased 1.2 percent. The October contract, $3,670, increased 9.1 percent.

 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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