MD_DA104 Butter/Butteroil - Europe Report 23 - Released on June 08, 2023 While European butter prices moved higher, industry contacts do not all view the market through bullish lenses. Retail butter demand is mixed. Some contacts say it is solid, but others suggest it is only normal. While in-store promotions and lower retail prices have helped generate some grocery sales, market observers think that butter sales driven by the recent asparagus season did not live up to expectations. In addition, bulk butter demand is subdued. Some buyers are holding off on longer-term purchases, waiting to see how market dynamics develop through the year. Plenty of cream is finding its way to the churns, and cream prices have trended slightly lower lately. Butter production is active, and inventories are readily available to meet most buyer demands. European butteroil prices are mixed, moving down at the bottom of the price range and up at the top. Western Europe, 82% Butterfat, Free on Board - Port Butter Price Range - $/MT: 4,850 - 5,700 Western Europe, 99% Butterfat, Free on Board - Port Butteroil Price Range - $/MT: 6,150 - 6,925 Information for the period May 29 - June 9, 2023, issued biweekly Published by: Dairy Market News - Madison, WI MIKE BANDLI, (608)422-8592 Email: mike.bandli@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