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
Dairy Market News - Madison, WI
Eric Graf, 608.422.8590
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