MD_DA124

     Butter/Butteroil - Oceania

     Report 49 - Released on December 06, 2018

     Butter prices in Oceania this period are mixed, firming at the low end of the price range
     but lower at the top.

      Butter production in Oceania is more active in New Zealand where cream is more available to
     manufacturers. Australia continues to deal with lower than expected milk supplies. Another
     factor at this time of year is seasonal demand for cream needed for holiday related dairy
     manufacturing to meet the demand from supermarkets in Australia.

     Oceania, 82% Butterfat, Free on Board - Port Butter
     Price Range - $/MT:                          3,700 - 3,900


     Information for the period November 26 -  December 7, 2018, issued biweekly

     Secondary Sourced Information:

     Butter exports from New Zealand January-October this year were up 10.0 percent from
     January-October 2017, according to CLAL. The table below shows top export destination
     country percent change comparing January-October 2018 with 2017.

                       NEW ZEALAND BUTTER EXPORTS

                      % Change
     Destination      Jan.-Oct. 2018/2017
     China            +37.9
     Australia        +28.3
     Philippines      -1.6

     At GDT event 225 on December 4, the butter all contracts price, $3,745, increased 2.7
     percent. The January contract price, $3,795, decreased 4.2 percent.
     Published by:
     Dairy Market News - Madison, WI
     Eric Graf, 608.422.8590
     Email: eric.graf@ams.usda.gov

     Additional Dairy Market News Information:
     Dairy Market News (DMN) by Phone: (608)422-8602
     DMN Website: http://www.ams.usda.gov/market-news/dairy
     DMN Database Portal: http://www.marketnews.usda.gov/mnp/da-home