MD_DA104

     Butter/Butteroil - Europe

     Report 15 - Released on April 15, 2022

     European butter prices marked a large increase last week before easing back this week.
     However, the net effect was an increase in butter prices at both ends of the price range.
     Butteroil prices also increased significantly, but the bottom of the price range closed
     lower than the previous period. Contacts report that delays in receiving production supplies
     have created disruptions in butteroil production and very tight inventories. In the lead up
     to spring holidays, industry sources note strong retail orders for packaged butter. The
     holiday, along with the first signs of the asparagus season, have primed consumers' tastes
     for butter. However, industry contacts are concerned how the higher prices may set with
     consumers following the holiday. Block butter demand from industrial accounts has
     fluctuated. While buyers seem to have some short-term needs filled, they are trying to find
     ways to construct longer-term deals. However, butter makers are not interested in locking in
     these deals because of the potential price risk and market uncertainties created by tight
     milk supplies and potentially volatile energy costs. Bulk and packaged butter inventories
     are tight.



     Western Europe, 82% Butterfat, Free on Board - Port Butter
     Price Range - $/MT:                          7,575 - 8,075


     Western Europe, 99% Butterfat, Free on Board - Port Butteroil
     Price Range - $/MT:                          6,700 - 9,825


     Information for the period April 4 - 15, 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