MD_DA104 DA MD DA104 Butter/Butteroil - Europe MADISON, WI. February 05, 2015 (REPORT 5) WESTERN EUROPE INFORMATION GATHERED 01/26/2015 - 02/06/2015 U.S. DOLLARS PER METRIC TON, FOB PORT WESTERN EUROPE BUTTER/BUTTEROIL: The bulk butter market has shown surprising strength over the past couple of weeks. Continued weakness in the Euro, compared to the U.S. dollar, has sparked increased export interest. Most available supplies are committed. The good export demand and expanded domestic purchases of winter butter for technical storage have contributed to butter's reduced availability. PSA stock levels through January 18 amounted to 26,753 MT. The Netherlands and Ireland make up a majority of the supplies held in PSA. Butter exports for the EU-28 January-November period, as reported by GTIS, increased 18% over year ago levels. EU butter exports for November increased, compared to October with Turkey being the top destination. According to Eurostat, EU butter production for January-November was estimated to be 2.6% over the previous year with France, Ireland and the Netherlands recording production increases of 6.5%, 9.4% and 8.1% respectively. The price gap in butteroil prices between Europe and Oceania widened this week as prices moved lower in Oceania. Production in Europe is focused on filling current contracts. Trading is light and new prospective buyers are limited. 82% BUTTERFAT: 3,300 - 3,675 99% BUTTERFAT: 3,975 - 4,450 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- home