MD_DA104

     Butter/Butteroil - Europe

     Report 31 - Released on August 04, 2022

     The price ranges for both European butter and butteroil contracted this period, moving up at
     the bottom of each range and down at the top of each range. The market tone for European
     butter is stable. Demand for packaged and retail butter is quiet and at normal seasonal
     levels. Sales are starting to pick up slightly for block butter. Buyers are seeking out
     current deals and commitments for longer-term deliveries, but it has been difficult to find
     prices agreeable to both buyer and seller. In addition, market uncertainties make both
     parties cautious and hesitant to take on any additional risk. Cream prices are a little
     higher, making manufacturers less eager to buy cream for the churn. Butter inventories are
     tight but able to cover current demand. However, as European vacationers return from summer
     holidays and buyers try to gain coverage for seasonal fall butter needs, market participants
     expect butter stocks to tighten.



     Western Europe, 82% Butterfat, Free on Board - Port Butter
     Price Range - $/MT:                          6,900 - 7,850


     Western Europe, 99% Butterfat, Free on Board - Port Butteroil
     Price Range - $/MT:                          7,875 - 9,450


     Information for the period July 25 -  August 5, 2022, 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