Butter/Butteroil – Europe on first half of may 2019

Report 19 – Released on May 09, 2019

Western European butter prices are steady to higher. The high-end prices represent butter prices firming in France. Prices are mostly stable in Germany, Netherlands and Italy. German observers expect mostly stable butter prices through May. Butteroil prices are steady to up slightly at the bottom end of the price range.

Contracted production is being delivered on schedule. Spot market buyers are generally able to close deals within the current pricing range. Contracts for the second half are still in some flux.

While many buyers are willing to close deals on current prices, some sellers are holding back, hoping to benefit from price increases. This applies both to internal European deals, as well as export transactions. New export deals are in a slow phase now.

Official EU butter production data through March has yet to be released. However, sources in Ireland note that butter production was very active in March and April, with output expected to be officially reported as higher.

Western Europe, 82% Butterfat, Free on Board - Port Butter
     Price Range - $/MT:                          4,625 - 4,850

     Western Europe, 99% Butterfat, Free on Board - Port Butteroil
     Price Range - $/MT:                          5,925 - 6,150

     Information for the period April 29 -  May 10, 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: https://www.ams.usda.gov/market-news/dairy
     DMN MARS (MyMarketNews): https://mymarketnews.ams.usda.gov/