MD_DA124

     Butter/Butteroil - Oceania

     Report 29 - Released on July 22, 2021

     Reversing the movements from two weeks ago, the Oceania butter price range narrowed, moving
     up slightly at the bottom of the price range and down at the top of the price range. The
     latest GDT event signaled some pressure on butter prices, but the overall market tone is
     stable. Buyer interest is present, but there is no urgency to make purchases for immediate
     delivery, and shoppers are willing to wait for a need to arise or for a deal to surface.



     Oceania, 82% Butterfat, Free on Board - Port Butter
     Price Range - $/MT:                          4,375 - 4,550


     Information for the period July 12 - 23, 2021, issued biweekly

     Secondary Sourced Information:

     At GDT event 288 on July 20, 2021, the butter all contracts price, $4,419, decreased 0.8
     percent. The August contract, $4,430, decreased 3.0 percent.

     July 2020 – May 2021 butter exports from Australia, 16,731 MT,
     increased 134.1 percent from July 2019 – May 2020, according to Dairy Australia.

     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