MD_DA124

     Butter/Butteroil - Oceania

     Report 33 - Released on August 17, 2023

     The price range for Oceania butter moved lower at the top and bottom, following the results
     of the recent GDT 338 event. At this event, the all contracts price for butter declined by
     3.0 percent, while prices declined in each contract period offered. During the event North
     Asia was the top purchaser of butter and was the only region that purchased a larger
     quantity of butter than in the previous event. Butter production is steady in the region.
     Inventories of butter are sufficient to meet current market demands.

     Oceania, 82% Butterfat, Free on Board - Port Butter
     Price Range - $/MT:                          4,525 - 4,725


     Information for the period August 7 - 18, 2023, issued biweekly

     Secondary Sourced Information:

     At GDT event 338 on August 15, 2023, the butter all contracts price, $4,539, decreased 5.3
     percent. The September contract, $4,552, decreased 3.8 percent.
     Published by:
     Dairy Market News - Madison, WI
     ROMAN CARAMAN, 608-422-8593
     Email: roman.caraman@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