MD_DA106                                                         
DA                                                               
MD DA106 Skim Milk Powder - Europe                               

MADISON, WI.  January 22, 2015 (REPORT 3)                        

WESTERN EUROPE                                                   
INFORMATION GATHERED  01/12/2015 - 01/23/2015                    
U.S. DOLLARS PER METRIC TON, FOB PORT                            

SKIM MILK POWDER (SMP):  Prices for skim milk powder moved slightly 
higher on the upper end of the range.  The market is stable as production 
is being moderated, due to lower milk intakes in countries over quota.  
Export demand has increased, prompted in part by competitive pricing 
caused by the weaker European currency.  A majority of Q1 supplies are 
committed.  Though prices are near the intervention level, contacts 
report that it is unlikely supplies will be offered to intervention in 
the near term.  The results of a high volume tender are being eagerly 
anticipated and will give increased clarity to current market trends.  
The market undertone is steady to firm.  PSA stock levels through January 
4 amounted to 17,342 MT with Germany accounting for over 50% of the 
volume in storage.  November import data from China showed an increase in 
exports of SMP from France going to China.

1.25% BUTTERFAT:                         2,000 - 2,300           

0930c rick.whipp@ams.usda.gov 608.278.4151
USDA/AMS/Dairy Market News, Madison, Wisconsin
Dairy Market News website: www.ams.usda.gov/dairymarketnews
Dairy Market News database portal: http://www.marketnews.usda.gov/mnp/da-
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