MD_DA104

     Butter/Butteroil - Europe

     Report 7 - Released on February 16, 2023

     Although both European butter and butteroil price ranges moved lower, the current market
     tone is firmer. Industry sources report butter prices have quickly turned upwards amid an
     increase in orders. Demand for packaged retail butter has picked up. Consumer prices have
     eased somewhat, and shoppers are finding it a good time to restock following the winter
     holidays. For bulk butter demand, near-term needs are largely covered, but buyers are
     willing to engage in discussions about commitments for later in the year. However, these
     negotiations are proving difficult. Butter inventories are in relatively good balance with
     current demand. But butter makers are cautious because of the uncertainties about milk and
     cream availability for later in the year. Cream prices have also recently risen, and
     although butter makers are readily making butter, there is a pull of cream into other uses.




     Western Europe, 82% Butterfat, Free on Board - Port Butter
     Price Range - $/MT:                          4,450 - 5,900


     Western Europe, 99% Butterfat, Free on Board - Port Butteroil
     Price Range - $/MT:                          6,200 - 8,600


     Information for the period February 6 - 17, 2023, issued biweekly
     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