MD_DA124

     Butter/Butteroil - Oceania

     Report 37 - Released on September 14, 2023

     Oceania butter prices firmed at both ends of the pricing range, with the adjustment of the
     GDT butter price index, which increased 1.1 percent. New Zealand market representatives
     attribute the increase to an uptick in demand. Buyers from North Asia led all purchasers of
     butter at the latest GDT event. Buyers are actively evaluating what may happen next for
     near-term deliveries, prompted by the price increase. Based on the level of seasonal milk
     production, butter supplies for export are adequate in New Zealand, while domestic supplies
     in Australia are tight.



     Oceania, 82% Butterfat, Free on Board - Port Butter
     Price Range - $/MT:                          4,575 - 4,750


     Information for the period September 4 - 15, 2023, issued biweekly

     Secondary Sourced Information:

     GLOBAL DAIRY TRADE
     At GDT event 339 on September 5, 2023, the butter all contracts price, $4,588 increased 1.1
      percent. The October contract, $4,745, increased 4.3 percent.

     Published by:
     Dairy Market News - Madison, WI
     DANIEL JOHNSON, 608-422-8605
     Email: daniel.johnson4@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