MD_DA104 DA MD DA104 Butter/Butteroil - Europe MADISON, WI. March 05, 2015 (REPORT 9) WESTERN EUROPE INFORMATION GATHERED 02/23/2015 - 03/06/2015 U.S. DOLLARS PER METRIC TON, FOB PORT WESTERN EUROPE BUTTER/BUTTEROIL: The butter price range narrowed in a mixed market. Export activity has slowed and can be attributed to some buyers having their near term needs covered and willing to wait for the possibility of lower prices in the future. A majority of supplies are committed through March. Some traders were offering butter at a discount and below manufacturers' prices. According to Eurostat, EU butter production for 2014 was estimated to be 2.9% above 2013 with France, Ireland and the Netherlands recording production increases of 6.9%, 9.1% and 7.1% respectively. Total butter exports for the EU-28 in 2014, as reported by GTIS, increased 21% over 2013. EU butter exports for December marginally declined, compared to November with Uzbekistan, Saudi Arabia and Egypt the top three destinations. PSA stock levels through February 22 amounted to 30,870 MT. Butter volumes going into PSA increased from Belgium, France, Germany and The Netherlands in February and reflected the typical seasonal increase in winter butter stock for use later in the year. Butteroil prices are steady to weak. Market activity is light and largely confined to domestic transactions. Export trade continues to be with repeat customers who prefer European product. 82% BUTTERFAT: 3,550 - 3,925 99% BUTTERFAT: 4,050 - 4,625 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