Report 1 – Released on January 07, 2021

The Western European butter price range has strengthened consistent with the general pricestrength for dairy commodities. Following the December holiday lull in activity, it has beenback to business for butter buyers and sellers. The normal pattern is for buying activity toincrease early in January then continue to increase through January. The same pattern isexpected this year. That spurs some of the current buyers to try and get commitments lockeddown early in the month. The focus of manufacturers is on the European internal market moreso than exports. Buying interest is stronger for packaged butter as many customers continueto eat more meals at home than at restaurants. Butteroil prices are also higher.

 Western Europe, 82% Butterfat, Free on Board - Port Butter
     Price Range - $/MT:                          4,000 - 4,225


     Western Europe, 99% Butterfat, Free on Board - Port Butteroil
     Price Range - $/MT:                          4,900 - 5,025


     Information for the period December 21, 2020 -  January 8, 2021, issued biweekly

Secondary Sourced Information:

European Union butter exports January – October 2020, 177,558 MT, increased 27 percent fromJanuary – October 2019 according to the European Union citing Eurostat data. Top exportdestinations January – October 2020 and percentage change from January – October 2019 areUSA, 35,432 MT, +17 percent; Saudi Arabia, 15,132, +101 percent; and China, 13,121, +50percent.