MD_DA124

Butter/Butteroil -

Report 27 - Released on July 08, 2021

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

Continuing active buying from China helped maintain the higher pricing. Increased buying activity from Southeast and 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 3.2 percent. The August contract, $4,568, decreased 1.1 percent.

January – May 2021 butter exports from New Zealand 188,000 MT, decreased 4.3 percent from January – May 2020, according to CLAL data made available to USDA. The main export destinations 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; and , 12,002 MT, -23.72 percent.

Published by: Dairy Market News - Madison, WI Eric Graf, 608.422.8590 Email: [email protected]

Additional Dairy Market News Information: Dairy Market News (DMN) by Phone: (608)422-8602 DMN Website: https://www.ams.usda.gov/market-news/dairy DMN MARS (My Market News): https://mymarketnews.ams.usda.gov