MD_DA104                                                         
DA                                                               
MD DA104 Butter/Butteroil - Europe                               

MADISON, WI.  May 28, 2015 (REPORT 21)                           

WESTERN EUROPE                                                   
INFORMATION GATHERED  05/18/2015 - 05/29/2015                    
U.S. DOLLARS PER METRIC TON, FOB PORT                            
                                                                 
WESTERN EUROPE                                                   
                                                                 
BUTTER/BUTTEROIL:  Butter prices moved marginally lower on the upper end 
of the range.  Demand for bulk butter has improved as some buyers have 
made additional purchases to cover their short term needs.  There are 
additional requests coming into manufacturers for longer term orders with 
some extending through Q4.  Those negotiations remain ongoing as buyers 
and sellers tend to be apart in price expectations.  PSA stock levels on 
May 17 amounted to 55,444 MT. The Netherlands and France have the largest 
holdings in PSA stocks and comprise 75% of the holdings.  January-March 
2015 butter exports for the EU-28, as reported by GTIS, increased 14.4% 
compared to the same period last year.  March butter export volumes 
increased compared to the previous month with most of the increase 
attributable to purchases from Saudi Arabia.  Butteroil prices also 
declined this reporting period.  Export demand remains light as lower 
prices are available via the Oceania market.  

82% BUTTERFAT:            3,100 - 3,450                          
99% BUTTERFAT:            3,725 - 4,200                          

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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