USDA Oceania Butter 11/20 10:20

AMS_1099 MARS

Butter - Oceania

Released on November 20, 2025

Oceania butter prices fell dramatically during the reporting period, with large 
decreases at both the bottom and top of the price range. Production remains 
strong as milk and milkfats are widely available during Oceania's spring flush 
period. Butterfat is plentiful in global markets, placing downward pressure on 
Oceania butter and anhydrous milkfat (AMF); export prices decreased sharply for 
both commodities during the reporting period. Butter exports from the United 
States and Europe remain discounted relative to those from Oceania, further 
restraining Oceania export prices. Reported domestic prices for both butter and 
AMF were stable, though domestic futures prices were mixed for butter and lower 
across all contracts for AMF, reflecting the current overabundance of fats in 
the market.At Global Dairy Trade (GDT) event 392, butter price indices 
decreased across all contracts for which product was offered for delivery. The 
price indices for the December, January, February, and March contracts each 
decreased between 7.0 and 8.0 percent, while the price index for the April 
contract decreased by 5.7 percent. No product was offered for delivery under 
the May contract. The volume of butter sold at event 392 was similar to the 
volume sold at the prior event and modestly higher than the volume sold at 
event 368, held one year ago. North Asian buyers purchased just over 
three-quarters of the butter on offer, while buyers in Southeast Asia/Oceania 
and Europe purchased the second- and third-largest quantities, respectively.

Prices for: Oceania, 82% Butterfat, Free on Board - Port Butter
Price Range - Dollars per Metric Ton: 5850 - 6550


Information for the period November 10 - 21, 2025, issued biweekly

Secondary Sourced Information:

During GDT event 392 on November 18, 2025, the average price for butter across 
all contract periods was $5,886 per metric ton, corresponding to a 7.6 percent 
decrease in the butter price index from the prior event. The average price for 
the December contract was $5,886 per metric ton, with the December price index 
down 7.3 percent. More information on butter prices at the most recent event 
can be found at https://www.globaldairytrade.info/en/product-results/butter. 
Dairy Australia recently released export data for Australia showing butter 
export volumes from July - September 2025 totaled 2,177 metric tons, a decrease 
of 51.5 percent compared to export volume totals from July - September 2024.

[0600059B]