Report 3 – Released on January 21, 2021

The Western European butter price range is steady to higher. The upper range price bumpresults from sales at a small number of plants within Western Europe. Butteroil prices areslightly lower, but well above butter prices. Sources expect butteroil to remain within anarrow range in coming weeks, with some trading fluctuation.

Manufacturers report that inquiries from Western European retailers and manufacturers, aswell as from export customers, have been increasing this week. Many sellers expect pricefirming in coming weeks based on these inquiries, partly because Western European butterpricing is competitive globally. Butter is nicely profitable at current pricing so anyincreases will be especially pleasing to manufacturers.

 Western Europe, 82% Butterfat, Free on Board - Port Butter
     Price Range - $/MT:                          4,000 - 4,250


     Western Europe, 99% Butterfat, Free on Board - Port Butteroil
     Price Range - $/MT:                          4,700 - 4,950


     Information for the period January 11 - 22, 2021, issued biweekly

Secondary Sourced Information:

EU butter production January – November 2020 increased 2.4 percent from January – November2019 according to CLAL data made available to USDA. Among some of the top butter producers,the percentage changes January – November 2020 compared with January – November 2019 areGermany, +1.8 percent; France, +0.7 percent; and Netherlands, -3.7 percent.

European Union butter exports January – November 2020, 232,000 MT, increased 19.0 percentfrom January – November 2019 according to CLAL data made available to USDA. Top exportdestinations January – November 2020, quantities, and percent change YTD, were the UnitedStates, 39,276 MT, +16.42 percent; Saudi Arabia, 20,359 MT, +66.46 percent; and China,15,678 MT, +38.89 percent.

Published by:
     Dairy Market News - Madison, WI
     Eric Graf, 608.422.8590
     Email: Eric.Graf@usda.gov

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