MD_DA104

     Butter/Butteroil - Europe

     Report 47 - Released on November 22, 2022

     Prices for European butter are unchanged. But within the butter markets there are
     significant variations. Industry sources report manufacturers are busy producing more
     packaged butter and less bulk butter. Strong retail demand ahead of the year-end holidays is
     keeping packaged butter inventories tight. However, demand for bulk butter is more subdued.
     End users seem to have their near-term needs filled, and the gap between buyer and seller
     price expectations are preventing many transactions from moving forward. Market participants
     seem more willing to take a wait and see approach. Prices for European butteroil are steady
     to lower.



     Western Europe, 82% Butterfat, Free on Board - Port Butter
     Price Range - $/MT:                          5,925 - 7,175


     Western Europe, 99% Butterfat, Free on Board - Port Butteroil
     Price Range - $/MT:                          7,975 - 9,100


     Information for the period November 14 - 25, 2022, issued biweekly

     Secondary Sourced Information:

     European Butter Production
     According to CLAL data made available to USDA, EU September butter production is 156,993
     MT, an increase of 0.9 percent from September 2021. EU butter production during January-
     September 2022 is 1,569,723 MT, a decrease of 1.3 percent from January-September 2021.
     Among some of the top butter producers, January - September 2022 butter production and the
     percentage change compared with January-September 2021 are Germany, 351,153 MT, -2.5
     percent; France, 304,730 MT, -0.6 percent; Ireland, 215,170 MT, -3.8 percent; and Poland,
     177,570 MT, +3.6 percent.

     YTD European Butter Exports
     Butter and other fats exports from the EU27 January - September 2022, 198,000 MT, are
     unchanged from January - September 2021 according to CLAL data made available to USDA. Main
     destinations January - September 2022, quantity, and percent change from last year are
     United Kingdom, 49,292 MT, +36.45 percent; United States, 32,509 MT, -3.77 percent; and
     China, 11,342 MT, -27.87 percent.

     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