MD_DA124 Butter/Butteroil - Oceania Report 21 - Released on May 26, 2022 The Oceania butter market, as with most other dairy commodity markets, declined this week as the GDT price slipped 1.0 percent. The range price adjusted lower at the top. GDT event 308 show that butter trading is moving higher, as the volumes exchanged ballooned 429 percent. Overall, demand is stable. Coupled with the suspension of shipments to Russia, Oceania unsalted butter shipments are slightly lower this week. Butter production is declining along seasonal norms. The market tone, in the short term, conveys a bearish sentiment as China's lockdown effect continues to impact dairy commodity prices in general. Oceania, 82% Butterfat, Free on Board - Port Butter Price Range - $/MT: 5,775 - 6,600 Information for the period May 16 - 27, 2022, issued biweekly Secondary Sourced Information: GLOBAL DAIRY TRADE At GDT event 308, on May 17, 2022, the butter all contracts price, $5,750, decreased 1.0 percent. The June contract, $5,742, decreased 1.0 percent. AUSTRALIA EXPORTS Australian exports of butter July 2021-March 2022, 14.286 MT, increased 5.7 percent from July 2020-March 2021, according to Dairy Australia. Published by: Dairy Market News - Madison, WI DANIEL JOHNSON, 608-422-8605 Email: daniel.johnson4@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