MD_DA104                                                         
DA                                                               
MD DA104 Butter/Butteroil - Europe                               

MADISON, WI.  May 14, 2015 (REPORT 19)                           

WESTERN EUROPE                                                   
INFORMATION GATHERED  05/04/2015 - 05/15/2015                    
U.S. DOLLARS PER METRIC TON, FOB PORT                            
                                                                 
WESTERN EUROPE                                                   
                                                                 
BUTTER/BUTTEROIL:  Butter prices moved lower on both ends of the range 
this reporting period.  Domestic package butter demand is active in 
Europe as the asparagus harvest is in full swing in most areas.  Export 
demand for bulk butter is slow.  Manufacturers and buyers are negotiating 
for Q3 and Q4, but progress is slow as price expectations from buyers and 
sellers are substantially different.  The market continues to have a weak 
undertone.  PSA stock levels through May 3 amounted to 49,999 MT. The 
Netherlands, Germany and France were the leading contributors to PSA 
stocks for in recent weeks.  January-February 2015 butter exports for the 
EU-28, as reported by GTIS, increased 7.6% compared to the same period 
last year.  February butter export volumes expanded to the top three 
destinations, Egypt, the US and Singapore.  According to Eurostat, EU 
butter production for February 2015 showed the following percentage 
changes for selected countries compared to February last year: France, 
+3.7%; Germany, +5.1%; Belgium, +10.3%; Ireland, +0.6% and the 
Netherlands, -17.3%.  Butteroil prices moved declined on the lower end of 
the range.  Market activity is light.  Export demand has slowed as 
prospective buyers are trending towards the lower priced Oceania AMF 
market option.  The market undertone remains weak.

82% BUTTERFAT:            3,100 - 3,500                          
99% BUTTERFAT:            3,750 - 4,300                          

0930c rick.whipp@ams.usda.gov 608.557.7004
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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