Report 27 – Released on July 08, 2021

The Oceania butter price range widened as the low end decreased and the top end firmed. Thisweek’s GDT event brought the low end of the range down. In contrast, sales frommanufacturers caused the top range firming. Weaker GDT event prices are said to reflectdiminishing buyer interest in paying higher prices. While many observers anticipated theprice weakness, the degree of weakness was not generally expected.

Continuing active buying from China helped maintain the higher pricing. Increased buyingactivity from Southeast Asia and North America buttressed the demand from China.

  Oceania, 82% Butterfat, Free on Board - Port Butter
     Price Range - $/MT:                          4,350 - 4,750


     Information for the period June 28 -  July 9, 2021, issued biweekly

Secondary Sourced Information:

At GDT event 287 on July 6, 2021, the butter all contracts price, $4,458, decreased 3.2percent. The August contract, $4,568, decreased 1.1 percent.

January – May 2021 butter exports from New Zealand 188,000 MT, decreased 4.3 percent fromJanuary – May 2020, according to CLAL data made available to USDA. The main exportdestinations January – May 2021, quantities, and percent change from January – May 2020,were China, 48,860 MT, +41.95 percent; Philippines, 12,390 MT, +4.03 percent; andAustralia, 12,002 MT, -23.72 percent.

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

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