MD_DA124

     Butter/Butteroil - Oceania

     Report 11 - Released on March 18, 2021


     The Oceania butter price range is mixed. Low range prices strengthened during this bi-weekly
     period while top range prices are lower. Regional butter manufacturers affirm that butter
     demand remains quite strong. The price decline is viewed more as a counter reaction to
     unexpected price strength two weeks ago following excellent buying interest, rather than any
     overall weakness. Prices remain relatively high.

     This is a time when the Oceania production season is declining. Buyer demand remains very
     active. Those factors, coupled with weather uncertainty, are expected to keep butter prices
     near current levels in coming weeks.



     Oceania, 82% Butterfat, Free on Board - Port Butter
     Price Range - $/MT:                          5,600 - 5,850


     Information for the period March 8 - 19, 2021, issued biweekly

     Secondary Sourced Information:


     At GDT event 280 on March 16, 2021, the butter all contracts price, $5,659, decreased 2.8
     percent. The April contract, $5,778, decreased 2.5 percent.

     Butter exports from Australia July 2020 – January 2021, 9,894 MT, increased 116.4 percent
     from July 2019 – January 2020 according to Dairy Australia.





     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