MD_DA124

     Butter/Butteroil - Oceania

     Report 9 - Released on March 03, 2022


     The Oceania butter price range is up all over. One Oceania source said that butter prices
     exploded. Sources have stated that butter prices in Oceania are at record high levels. The
     price strength is attributed to North Asian buyers maintaining the position of top buyer,
     coupled with Middle Eastern buyers increasing typical purchase volumes. Sellers expect
     continued sales at high price levels. The bulk of seasonal butter has already been
     manufactured in New Zealand. Production continues at a low level.  Australia, especially,
     continues to channel more milk into butter but is hampered by seasonal milk being near the
     low point.






     Oceania, 82% Butterfat, Free on Board - Port Butter
     Price Range - $/MT:                          6,500 - 7,150


     Information for the period February 21 -  March 4, 2022, issued biweekly

     Secondary Sourced Information:


     At GDT event 303, on March 1, 2022, the butter all contracts price, $7,086, increased 5.9
     percent. The April contract, $7,090, increased 5.6 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