MD_DA104 DA MD DA104 Butter/Butteroil - Europe MADISON, WI. March 19, 2015 (REPORT 11) WESTERN EUROPE INFORMATION GATHERED 03/09/2015 - 03/20/2015 U.S. DOLLARS PER METRIC TON, FOB PORT WESTERN EUROPE BUTTER/BUTTEROIL: Butter prices declined significantly on both ends of the range. Bulk butter export demand and trading has subsided, compared to recent weeks, as most buyers have their near term needs covered. Available supplies for export are relatively tight, due to the good domestic demand ahead of Easter. The reduced rate of milk production expansion over the past number of weeks has also contributed to the restricted availability of butter. Some buyers are hoping for increased supplies in early April, but uncertainty remains regarding just how quickly milk production will expand. PSA stock levels through March 8 amounted to 38,097 MT. Belgium, France, Germany and The Netherlands were the primary contributors to PSA stock growth. A majority of the stock growth is due to the storage of winter butter for use later in the year by baking manufacturers. Butteroil prices are weaker. Export interest has slowed as many potential buyers are taking a wait and see attitude. Production is geared to filling current orders. 82% BUTTERFAT: 3,400 - 3,650 99% BUTTERFAT: 3,875 - 4,400 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