MD_DA124

     Butter/Butteroil - Oceania

     Report 37 - Released on September 12, 2019

     Butter prices in Oceania are stronger. Buyers are up against tighter current availability
     than they would like. Some buyers believe that seasonal increases in production are not as
     buoyant as they would like. This has led to giving sellers the upper hand in negotiations.

     There are also concerns among some buyers that strong export demand might cause butter to
     become harder to source from the region in coming months. This has added extra motivation to
     closing deals.

     Oceania, 82% Butterfat, Free on Board - Port Butter
     Price Range - $/MT:                          4,025 - 4,125


     Information for the period September 2 - 13, 2019, issued biweekly

     Secondary Sourced Information:

     Butter exports from Australia January - July 2019, 13,000 MT, were up 39.6 percent from
     January - July 2018, according to CLAL.

     The table below shows the top export destinations and country percent change comparing
     January - July 2019 with January - July 2018.

     AUSTRALIA BUTTER EXPORTS
             JANUARY - JULY 2019

                           % CHANGE
     DESTINATION           2019/2018    MT

     Thailand               +52         2,528
     United States         +513         1,959
     China                  +40         1,371

     At GDT event 243 on September 3, the butter September contract price, $4,110, increased 1.5
      percent.
     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