EU butter below Oceania for first time in nearly two years

Published 26 April 19

Since early 2018, the EU wholesale butter price had been at a significant premium to Oceania butter, with the gap in prices reaching more than US $2,000 in September 2018. This gap has been closing over the last six months. The two regions started to realign in February 2019 and EU price slipped below Oceania in March.

Oceania pricing has been driven by New Zealand production. Earlier in the season it was running high, but recent dry weather has tightened supplies and supported prices. EU butter prices have declined partly because their premium meant there was low export interest. However, now that prices are competitive once more that interest is likely to return.

Wholesale Butter Prices