MD_DA104

     Butter/Butteroil - Europe

     Report 29 - Released on July 22, 2021

     Western European butter prices moved lower at both ends of the price range, while the price
     range for butteroil narrowed. Industry contacts suggest a few manufacturers and some traders
     looked to sell off part of their butter stocks. The challenge, they found, is that there is
     plenty of butter on hand and buyers are not too eager to take on more volumes. There is no
     urgency to make butter purchases.

     Food service demand has grown as restaurants have reopened in some areas, but with many
     European workers going on holiday, retail butter demand has dried up. In addition, renewed
     lockdowns in other areas, challenges accessing export markets and market uncertainty have
     created a weaker market tone for the European butter market. Industry contacts hope activity
     will pick up once summer holidays end.



     Western Europe, 82% Butterfat, Free on Board - Port Butter
     Price Range - $/MT:                          4,350 - 4,950


     Western Europe, 99% Butterfat, Free on Board - Port Butteroil
     Price Range - $/MT:                          5,475 - 6,250


     Information for the period July 12 - 23, 2021, 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