MD_DA124

     Butter/Butteroil - Oceania

     Report 51 - Released on December 19, 2019

     Butter prices in Oceania moved lower, surprising many dairy industry officials. Butter
     supplies in the region are a bit ahead of current demand. Production schedules remain
     active, but below seasonal high volumes. Current production is going toward filling orders
     through the months of seasonally declining milk production ahead. What is produced now , but
     not currently needed, will be filling orders in months ahead. Domestic demand within
     Australia has been very good as year-end holidays draw near.

     Oceania, 82% Butterfat, Free on Board - Port Butter
     Price Range - $/MT:                          3,800 - 3,925


     Information for the period December 9 - 20, 2019, issued biweekly

     Secondary Sourced Information:

     Butter exports from Australia January – October this year are 17.8 percent higher than the
     same period last year, according to CLAL data made available to USDA.

     At GDT event 250 on December 17, the butter all contracts price, $3,886, decreased 2.4
     percent. The January contract, $3,807, decreased 5.3 percent.
     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