MD_DA124

     Butter/Butteroil - Oceania

     Report 45 - Released on November 10, 2021

     Oceania butter prices are still on an upwards trajectory, supported by a strong showing at
     the latest GDT event. Manufacturers are reporting stronger prices. Industry contacts relay
     butter supplies are tight because of the shift in dairy production focus to cheese and
     casein and the slow start to the Oceania milk production season. There is a strong buyer
     demand for butter. With short supplies, end users are bidding up prices to gain access to
     available supplies and assure they cover their near-term needs.



     Oceania, 82% Butterfat, Free on Board - Port Butter
     Price Range - $/MT:                          5,125 - 5,425


     Information for the period November 1 - 12, 2021, issued biweekly

     Secondary Sourced Information:

     At GDT event 295, on November 2, 2021, the butter all contracts price, $5,350, increased
     4.7 percent. The December contract, $5,385, increased 3.6 percent.

     January – September butter exports from New Zealand, 288,000 MT, decreased 4.3 percent from
     January – September 2020, according to CLAL data made available to USDA. The main export
     destinations January – September 2021, quantities, and percent change from January –
     September 2020, were China, 74,631 MT, +35.18 percent; Australia, 22,285 MT, -7.11 percent;
     and Philippines, 19,581 MT, -4.57 percent.

     According to CLAL data made available to USDA, January – September 2021 butter exports from
     Australia, 19,000 MT, increased 72.2 percent from January – September 2020. The main export
     destinations January - September 2021, quantities, and percent change from January –
     September 2020, were China, 4,976 MT, +158 percent; South Korea, 2,213 MT, +345 percent;
     and Singapore, 1,595 MT, +51.23 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