MD_DA104

     Butter/Butteroil - Europe

     Report 7 - Released on February 13, 2020

     Butter prices in Western Europe slightly declined. Prices are highest in France, followed by
     Germany, Netherlands and Italy. Butteroil prices are mixed, up at the low end of the price
     range but steady at the top.

     Bulk butter sales activity has increased in early 2020. Customers for bulk butter were more
     active in closing contracts and making some spot purchases. Contract negotiations remain
     underway for Q2. Many deals remain to be closed for Q2. Buyers and sellers are often apart
     in their expectations, so this will be evolving.

     Butter stocks are deemed sufficient for demand, even though build up during 2019 was
     reduced. Export demand for bulk butter is also noted. Packaged butter purchases are active,
     more so in early February than several weeks earlier. The perception is that retailers are
     re-stocking packaged butter.


     Western Europe, 82% Butterfat, Free on Board - Port Butter
     Price Range - $/MT:                          3,900 - 4,100


     Western Europe, 99% Butterfat, Free on Board - Port Butteroil
     Price Range - $/MT:                          5,000 - 5,100


     Information for the period February 3 - 14, 2020, issued biweekly
     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