MD_DA104

     Butter/Butteroil - Europe

     Report 23 - Released on June 06, 2019

     In Western Europe butter prices are weaker. Among large butter producing countries, the
     highest prices are in France. Germany and Netherlands follow. Butteroil prices are lower.

     Butter manufacturers are facing the reality of demand softening with some price reductions.
     Cold storage capacity is considered pretty full. Packaged butter demand from retail outlets
     has not been as strong as is desired. Buyers for near term delivery have more sourcing
     options and hence, some bargaining leverage. That is less true in finalizing contracts for Q
     3 and Q4.

     However, on balance, many buyers are still posturing a wait and see attitude in bargaining
     for the second half of the year. Ultimately buyers believe butter will be available, so,
     while playing hard to get, ultimately, they prefer to nail down some deals.

     Western Europe, 82% Butterfat, Free on Board - Port Butter
     Price Range - $/MT:                          4,375 - 4,675


     Western Europe, 99% Butterfat, Free on Board - Port Butteroil
     Price Range - $/MT:                          5,700 - 6,025


     Information for the period May 27 -  June 7, 2019, issued biweekly
     Published by:
     Dairy Market News - Madison, WI
     Eric Graf, 608.422.8590
     Email: Eric.Graf@usda.gov

     Additional Dairy Market News Information:
     Dairy Market News (DMN) by Phone: (608)422-8602
     DMN Website: http://www.ams.usda.gov/market-news/dairy
     DMN Database Portal: http://www.marketnews.usda.gov/mnp/da-home