MD_DA104

     Butter/Butteroil - Europe

     Report 41 - Released on October 10, 2019

     Western European butter prices are steady. German butter prices are the highest. Within the
     steady range for Western Europe, French and Netherlands butter prices strengthened.
     Butteroil prices are mixed, up at the low end of the price range, but down at the top.

     There is some buyer resistance to paying higher butter prices. Many buyers are stocked or
     contracted for current needs. Many of these buyers are holding back for now when
     manufacturers seek higher pricing. This is problematic for manufacturers because there has
     been recent strength in cream prices paid by butter manufacturers.

     Short-term interest in buying is low. Existing contracts are being delivered on time.
     Contracting for Q1 next year has slowed due to the differing expectations of sellers and
     buyers. There has been an uptick in export inquiries.

     Western Europe, 82% Butterfat, Free on Board - Port Butter
     Price Range - $/MT:                          3,825 - 4,125


     Western Europe, 99% Butterfat, Free on Board - Port Butteroil
     Price Range - $/MT:                          4,850 - 5,350


     Information for the period September 30 -  October 11, 2019, issued biweekly
     Published by:
     Dairy Market News - Madison, WI
     Eric K. 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