U.S. butter prices fell again, domestic demand stable
U.S. domestic demand remains stable, but stocks are high keeping pressure on prices.
Butter prices increased in April in both Oceania and the EU as product remains in tight supply and demand remains strong, AHDB reports.
Powder prices fell across both SMP and WMP in all regions, with the exception of WMP in Oceania.
This may be the result of the pull of butter markets on fat supplies combined with reduced milk deliveries due to bad weather during April in New Zealand. Intervention stocks continue to keep SMP markets subdued.
Cheddar prices fell over the month in both the EU and Oceania. Stocks are reported as ample in the U.S., and rising production is adding to them.
Markets in Oceania are reported as improved on previous year levels, with current low prices starting to drive some demand. ■