MD_DA104

     Butter/Butteroil - Europe

     Report 33 - Released on August 15, 2019

     Butter prices in Western Europe are lower. Prices in Germany and France are higher than in
     Netherlands. Butteroil prices are lower.

     Lower prices are showing early signs of generating more buying interest for packaged butter.
     The price dip is one reason. The second is that traditional holiday periods in Western
     Europe are increasingly ending and this will continue in coming weeks. Buyers back from
     holiday were far more evident this week than last week.

     Interest in block butter (commercial bulk) is slower to develop. Most processors are
     covered. Contracting for the second half of 2020 is already underway in the block butter
     sector.

     Prices in Western Europe are also drawing more export interest. Inquiries have been received
     from some buyers who now favor sourcing in Western Europe than Oceania.

     Western Europe, 82% Butterfat, Free on Board - Port Butter
     Price Range - $/MT:                          3,750 - 4,100


     Western Europe, 99% Butterfat, Free on Board - Port Butteroil
     Price Range - $/MT:                          5,125 - 5,700


     Information for the period August 5 - 16, 2019, issued biweekly

     Secondary Sourced Information:

     EU butter production January-June 2019, 1.158 million MT, increased 1.9 percent from
     January-June last year according to CLAL data made available to USDA.
     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