MD_DA104

     Butter/Butteroil - Europe

     Report 41 - Released on October 14, 2021

     European butter prices are significantly higher this week. Industry sources suggest packaged
     butter demand is at typical seasonal levels, while bulk butter demand has ratcheted higher.
     Some industry sources say a few end users were short and had to make purchases. Buyers are
     eager to ensure coverage through the end of the year and are pursuing available supplies.
     However, butter inventories are tight. Low farm milk output levels and low component levels
     have limited butter production. Cream prices have risen, and manufacturers have some
     misgivings regarding the continued availability of affordable cream through the new few
     months. Butter makers are quoting future business at higher prices. Prices for butteroil are
     mixed, moving lower at the bottom of the range and upwards at the top of the range. Prices
     settled slightly lower in week 40 but jumped higher in week 41.



     Western Europe, 82% Butterfat, Free on Board - Port Butter
     Price Range - $/MT:                          5,000 - 5,550


     Western Europe, 99% Butterfat, Free on Board - Port Butteroil
     Price Range - $/MT:                          5,550 - 6,300


     Information for the period October 4 - 15, 2021, 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