MD_DA124

     Butter/Butteroil - Oceania

     Report 41 - Released on October 12, 2023

NOTICE: After October 16, 2023, all information found on this report will transition to a new PDF format. 
The same data will be collected and disseminated through AMS Marketing Analysis and Reporting 
Services (MARS) platform. The new pdf report can be accessed on the AMS website at:
https://www.ams.usda.gov/mnreports/ams_1099.pdf


     Butter prices in Oceania firmed this week on strong demand. This follows GDT event 341 on
     October 4, which yielded a 1.3 percent increase in all contracts pricing, as prices lifted
     in all but contract 2. Buyers' purchases are driven by the higher price projections in the
     near-term. North Asia buyers' purchases were substantial compared to most other buyers.
     Butter manufacturers' churns are active along Oceania seasonal lines. Export butter interest
     is good on steady notes. The butter undertone currently carries a somewhat bullish
     sentiment, while some market participants choose to question how long it will last.

     Oceania, 82% Butterfat, Free on Board - Port Butter
     Price Range - $/MT:                          4,775 - 4,975


     Information for the period October 2 - 13, 2023, issued biweekly

     Secondary Sourced Information:

     GLOBAL DAIRY TRADE
     At GDT event 341 on October 3, 2023, the butter all contracts price, $4,806, increased 1.3
     percent. The November contract, $4,960, increased 4.5 percent.

     EXPORT
     New Zealand butter exports during January-August 2023, 317,000 MT, increased 10.1 percent
     from the previous year, according to CLAL data made available to USDA.
     Published by:
     Dairy Market News - Madison, WI
     DANIEL JOHNSON, 608-422-8605
     Email: daniel.johnson4@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