MD_DA124

     Butter/Butteroil - Oceania

     Report 31 - Released on August 05, 2021

     Oceania butter prices moved higher, buoyed by gains on the GDT and steady sales reported by
     manufacturers. The lift in prices seems to suggest that near term demand is present in the
     market. Retail demand is steady, and food service sales are improving. However, increasing
     numbers of new COVID cases across the region create uncertainty within some market channels.
     That said, the overall market tone is stable, with butter prices supported at current
     levels.



     Oceania, 82% Butterfat, Free on Board - Port Butter
     Price Range - $/MT:                          4,450 - 4,625


     Information for the period July 26 -  August 6, 2021, issued biweekly

     Secondary Sourced Information:

     At GDT event 289 on August 3, 2021, the butter all contracts price, $4,589, increased 3.8
     percent. The September contract, $4,610, increased 4.1 percent.

     January – June butter exports from New Zealand 224,000 MT, decreased 2.8 percent from
     January – June 2020, according to CLAL data made available to USDA. The main export
     destinations January – June 2021, quantities, and percent change from January – June 2020,
     were China, 59,344 MT, +39.05 percent; Philippines, 15,124 MT, -1.59 percent; and,
     Australia, 14,630 MT, -18.67 percent.


     Published by:
     Dairy Market News - Madison, WI
     MIKE BANDLI, (608)422-8592
     Email: mike.bandli@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