Oceania butter prices are mixed, down at the low end of the price range but higher at the top. Pricing for short term needs reflects higher pricing.
Production is lower than during much of the season. Regional butter demand is moderate, with most current production going to fill contracts. Expected deliveries are being met according to most reports.
Oceania, 82% Butterfat, Free on Board - Port Butter
Price Range - $/MT: 5,600 - 5,900
Information for the period April 29 - May 10, 2019, issued biweekly
Secondary Sourced Information:
At GDT event 235 on May 7, the butter all contracts price, $5,486, is very slightly lower. The June contract, $5,890, increased 4.2 percent.
Butter exports from New Zealand January-March 2019, 149,000 MT, were up 28.8 percent from January-March 2018, according to CLAL. The table below shows the top export destinations and country percent change comparing January-March 2019 with January-March 2018.
NEW ZEALAND BUTTER EXPORTS
DESTINATION 2019/2018 MT
China -23.5 16,239
Philippines +103.0 11,724
Iran -11.1 9,797
Australia -6.8 9,225
Dairy Market News - Madison, WI
Eric Graf, 608.422.8590
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/