MD_DA104

     Butter/Butteroil - Europe

     Report 37 - Released on September 15, 2022

     The price range for European butter moved higher as the price range for butteroil
     contracted. Industry sources say that while current retail butter demand is stable to
     higher, block butter demand is stable to lower. Consumers seem willing to make their retail
     butter purchases but are still looking for private label or discounted brands to stretch
     their food dollars. Meanwhile, industrial butter buyers are taking a wait and see approach
     to their butter purchases, hoping for a more comfortable price to appear. Butter inventories
     are adequate to cover most requests. However, production is limited by low milk volumes,
     weak milk component levels, and strong cream demand from other dairy product manufacturing.




     Western Europe, 82% Butterfat, Free on Board - Port Butter
     Price Range - $/MT:                          6,900 - 7,775


     Western Europe, 99% Butterfat, Free on Board - Port Butteroil
     Price Range - $/MT:                          8,800 - 9,200


     Information for the period September 5 - 16, 2022, issued biweekly

     Secondary Sourced Information:

     EU butter production during January-July 2022 is estimated at 1,245,010 MT, a decrease of
     2.2 percent from January-July 2021 according to CLAL data made available to USDA. Among some
     of the top butter producers, January - July 2022 butter production and the percentage change
     compared with January-July 2021 are Germany, 282,220 MT, -3.0 percent; France, 246,970 MT,
     -0.5 percent; Ireland, 162,600 MT, -3.4 percent; and Poland, 139,520 MT, +2.3 percent.


     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