MD_DA104

     Butter/Butteroil - Europe

     Report 23 - Released on June 09, 2022

     After a drop in prices in May, prices rebounded for European butter and butteroil. The top
     and bottom of both price series moved higher. Industry sources suggest that the dip in
     prices prompted some sales of packaged and bulk butter, as buyers tried to take advantage of
     the lower costs. Current demand for butter is healthy. Some end users are trying hard to get
     coverage through the end of the year. Industry sources suggest their current coverage is
     below what is normally covered at this time of year. Tight inventories and concerns about
     potential milk and cream supplies at the end of the year are keeping butter sellers from
     settling on longer term contracted deals. And higher price demands are keeping buyers from
     jumping at the offers being made. Butter production is active, but manufacturers are seeing
     challenges in finding affordable cream to turn into butter.



     Western Europe, 82% Butterfat, Free on Board - Port Butter
     Price Range - $/MT:                          7,575 - 8,375


     Western Europe, 99% Butterfat, Free on Board - Port Butteroil
     Price Range - $/MT:                          7,225 - 10,350


     Information for the period May 30 -  June 10, 2022, 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