MD_DA104

     Butter/Butteroil - Europe

     Report 29 - Released on July 18, 2019

     Butter markets are quiet as the Western European July mid-summer holiday season moves along.
     Butter prices are weaker. Butteroil prices are mixed, weaker at the low end of the price
     range, but steady at the top.

     Most butter buyers within Western Europe are contracted and content to take scheduled
     deliveries. There is not much spot market activity. Little new contracting is being
     reported.

     New export interest has been slow to develop in recent weeks. However, manufacturers are
     still working to fill export orders which began to increase in April. Overall, most
     exporters are content with the current situation.

     Western Europe, 82% Butterfat, Free on Board - Port Butter
     Price Range - $/MT:                          4,000 - 4,325


     Western Europe, 99% Butterfat, Free on Board - Port Butteroil
     Price Range - $/MT:                          5,275 - 5,950


     Information for the period July 8 - 19, 2019, issued biweekly

     Secondary Sourced Information:

     EU butter production January-May 2019, 974,000 MT, increased 1.5 percent from January-May
     last year according to CLAL data made available to USDA. Significant January-May butter
     production increases were achieved in Ireland, +11.5 percent, Germany, +3.1 percent, and
     the United Kingdom, +12.9 percent. France declined 3.5 percent and Netherlands declined 4.1
      percent. Manufacturers in Western Europe are targeting higher butter output this year
     compared with last year.
     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