Butter/Butteroil – Oceania

Report 19 – Released on May 09, 2019

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
               JANUARY-MARCH 2019

                           % CHANGE
     DESTINATION           2019/2018      MT

     China                  -23.5        16,239
     Philippines           +103.0        11,724
     Iran                   -11.1         9,797
     Australia               -6.8         9,225
     Published by:
     Dairy Market News - Madison, WI
     Eric Graf, 608.422.8590
     Email: Eric.Graf@usda.gov

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