MD_DA124

     Butter/Butteroil - Oceania

     Report 31 - Released on August 03, 2023

     Oceania butter prices are lower at the top and bottom of the price range, resulting from
     recent GDT 337 auction results, where the butter index withdrew 0.7 percent. Demand
     continues to lag. Seasonally lower milk production limits butter making, as most
     manufacturers maintain rather light to moderate churning schedules. Much of the butter
     production in Australia is focused on domestic markets as butter remains profitable.
     Oceania butter inventories are adequate for committed customers' needs.



     Oceania, 82% Butterfat, Free on Board - Port Butter
     Price Range - $/MT:                          4,650 - 4,775


     Information for the period July 24 -  August 4, 2023, issued biweekly

     Secondary Sourced Information:

     GLOBAL DAIRY TRADE
     At GDT event 337 on August 1, 2023, the butter all contracts price, $4,680 decreased 0.7
     percent. The September contract, $4730, declined 3.5 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