MD_DA124

     Butter/Butteroil - Oceania

     Report 45 - Released on November 05, 2020


     In Oceania the butter price range strengthened, continuing a recent trend. This was a
     positive note in contrast with many dairy powders notching lower prices. Oceania prices came
     closer to butter prices for Western European butter, remaining slightly lower. There are
     reports of some buyers feeling the need to acquire stocks in the short term, resulting in
     more spot market buying activity. Butter is currently not the most profitable dairy product,
     but it remains profitable and production will remain active for current sales and to stock
     for future months to meet contract obligations.


     Oceania, 82% Butterfat, Free on Board - Port Butter
     Price Range - $/MT:                          3,725 - 3,925


     Information for the period October 26 -  November 6, 2020, issued biweekly

     Secondary Sourced Information:


     At GDT event 271 on November 3, the butter all contracts price, $3,822, increased 3.9
     percent. The December contract, $3,920 increased 2.6 percent.

     Butter exports from New Zealand January � September 2020, 301,000 MT, decreased 7.7 percent
     from January � September 2019 according to CLAL data made available to USDA.


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

     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