MD_DA124

     Butter/Butteroil - Oceania

     Report 49 - Released on December 05, 2019

     Oceania butter prices are lower. Butter production in Oceania is close to seasonal high
     levels. Even with milk production having begun to decline from the recent seasonal peak, it
     seems many buyers are more covered than manufacturers believed. There is also perceived to
     be a feeling among some buyers that butter availability will remain decent in coming weeks.
     Holiday demand is a bigger factor in Australia than New Zealand, reflecting the greater role
     of exports in New Zealand. Australian butter demand is steady. New Zealand export demand is
     good, but stocks seem able to meet demand.

     Oceania, 82% Butterfat, Free on Board - Port Butter
     Price Range - $/MT:                          3,975 - 4,150


     Information for the period November 25 -  December 6, 2019, issued biweekly

     Secondary Sourced Information:

     At GDT event 249 on December 3, the butter all contracts price, $3,983, decreased 4.9
     percent. The January contract, $4,025, decreased 4.2 percent.
     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