MD_DA104

     Butter/Butteroil - Europe

     Report 15 - Released on April 11, 2019

     Western European butter prices are mixed. Prices at the low end of the price range moved
     higher. However, prices at the top end of the price range are lower. The price range is
     below pricing levels one year ago in Western Europe and below pricing in Oceania.

      This narrowing of the current price range reflects more even pricing among various butter
     producing countries within Western Europe. With expectations of seasonally increasing butter
     production, buyers are now more inclined to wait and see how more expensive upper range
     pricing moves, which led to the price retreat. The appetite for butter prices near the low
     end of the price range continues to attract buyers, which supported the strength there.

      Export interest is called slow. This is vexing to some manufacturers because Western butter
     seems to be favorably priced considering other regions.

     Western Europe, 82% Butterfat, Free on Board - Port Butter
     Price Range - $/MT:                          4,600 - 4,750


     Western Europe, 99% Butterfat, Free on Board - Port Butteroil
     Price Range - $/MT:                          5,900 - 6,350


     Information for the period April 1 - 12, 2019, 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 (MyMarketNews): https://mymarketnews.ams.usda.gov/