Report 41 – Released on October 14, 2021

Oceania butter prices moved higher. While prices from manufacturers were comparable toprevious weeks, the GDT event bumped prices up slightly. Industry sources suggest there wasstrong buying activity from most purchasing regions. Lower than expected milk supplies havecut into production somewhat and are supporting butter prices.

     Oceania, 82% Butterfat, Free on Board - Port Butter
     Price Range - $/MT:                          4,850 - 4,975


     Information for the period October 4 - 15, 2021, issued biweekly

Secondary Sourced Information:

According to Dairy Australia, July 2020-June 2021 Australian butter production, 48,713 tons, increased 15.0 percent from July 2019-June 2020.

At GDT event 293, on October 5, 2021, the butter all contracts price, $4,878, increased 0.4percent. The November contract, $4,970, increased 1.6 percent.July-August 2021 butter exports from Australia, 3,142 MT, increased 26.5 percent from July-August 2020, according to Dairy Australia.

According to CLAL data made available to USDA, January – August 2021 butter exports fromAustralia, 16,000 MT, increased 84.0 percent from January – August 2020. The main exportdestinations January – August 2021, quantities, and percent change from January – August2020, were China, 4,496 MT, +189 percent; South Korea, 1,708 MT, +250 percent; andSingapore, 1,436 MT, +63.27 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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