MD_DA104

     Butter/Butteroil - Europe

     Report 43 - Released on October 22, 2020


     In Western Europe, the butter price range is unchanged. The highest butter prices tend to be
     in Belgium, followed by Germany, Italy, France, then Netherlands. There has been a shifting
     toward more prices within the range moving higher. Butteroil prices are higher.

     Demand for packaged butter is getting stronger. Retail purchasing has recently increased.
     Some sellers label demand as high. Ordering activity is reported to be higher in the last
     few days. Some manufacturers increasingly believe packaged butter is undervalued. Even with
     some plants increasing butter production schedules, these factors portend possible price
     strengthening in coming weeks.

     Bulk butter activity is primarily centered on filling existing contracts. New contracting is
     slow. Many buyers are uncertain about making new price commitments. Current bulk butter
     manufacturing schedules and stocks on hand are handling current demand.



     Western Europe, 82% Butterfat, Free on Board - Port Butter
     Price Range - $/MT:                          3,950 - 4,200


     Western Europe, 99% Butterfat, Free on Board - Port Butteroil
     Price Range - $/MT:                          4,725 - 5,125


     Information for the period October 12 - 23, 2020, issued biweekly

     Secondary Sourced Information:


     EU butter exports January � August 2020, 185,000 MT, increased 43.2 percent from January �
     August 2019 according to CLAL data made available to USDA.



     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