MD_DA104

     Butter/Butteroil - Europe

     Report 19 - Released on May 13, 2021


     The Western European butter price range is higher at each end. Butteroil prices increased at
     the low end of the price range but declined at the top. The top of the butter range reached
     a 2021 high. The bottom of the butteroil price range reached a 2021 high. Prices were up in
     most primary butter producing countries such as Germany and France. Most butter plants are
     now paying more for cream.

     Internal Western European demand for packaged butter is higher according to manufacturers.
     Partly this is seasonal, related to holidays, as well as factors such as the beginning of
     asparagus season. Export customers are increasingly seeking to close deals. Oceania is less
     and less an option for sourcing. That relates to price as well as declining butter supplies
     there.

     Block butter contracting for Q4 is slower than for packaged butter. Block butter buyers and
     sellers continue to diverge as to price expectations. With the luxury of time ahead, each
     side can indulge their expectations more firmly for now.




     Western Europe, 82% Butterfat, Free on Board - Port Butter
     Price Range - $/MT:                          4,725 - 5,200


     Western Europe, 99% Butterfat, Free on Board - Port Butteroil
     Price Range - $/MT:                          5,025 - 6,150


     Information for the period May 3 - 14, 2021, 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 (My Market News): https://mymarketnews.ams.usda.gov