Report 31 – Released on August 05, 2021

Oceania butter prices moved higher, buoyed by gains on the GDT and steady sales reported bymanufacturers. The lift in prices seems to suggest that near term demand is present in themarket. Retail demand is steady, and food service sales are improving. However, increasingnumbers of new COVID cases across the region create uncertainty within some market channels.That said, the overall market tone is stable, with butter prices supported at currentlevels.

 Oceania, 82% Butterfat, Free on Board - Port Butter
     Price Range - $/MT:                          4,450 - 4,625


     Information for the period July 26 -  August 6, 2021, issued biweekly

Secondary Sourced Information:

At GDT event 289 on August 3, 2021, the butter all contracts price, $4,589, increased 3.8percent. The September contract, $4,610, increased 4.1 percent.

January – June butter exports from New Zealand 224,000 MT, decreased 2.8 percent fromJanuary – June 2020, according to CLAL data made available to USDA. The main exportdestinations January – June 2021, quantities, and percent change from January – June 2020,were China, 59,344 MT, +39.05 percent; Philippines, 15,124 MT, -1.59 percent; and,Australia, 14,630 MT, -18.67 percent.

     Published by:
     Dairy Market News - Madison, WI
     MIKE BANDLI, (608)422-8592
     Email: mike.bandli@usda.gov

     Additional Dairy Market News Information:
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