MD_DA104                                                         
DA                                                               
MD DA104 Butter/Butteroil - Europe                               

MADISON, WI.  June 11, 2015 (REPORT 23)                          

WESTERN EUROPE                                                   
INFORMATION GATHERED  06/01/2015 - 06/12/2015                    
U.S. DOLLARS PER METRIC TON, FOB PORT                            
                                                                 
WESTERN EUROPE                                                   
                                                                 
BUTTER/BUTTEROIL:  Butter prices are unchanged.  Domestic butter demand 
has eased in Europe following the May holidays, which has added to the 
supplies available for export.  Some increase in export demand was noted 
as buyers finished up orders ahead of Ramadan, scheduled to begin on June 
18.  Negotiations are ongoing for deliveries later in the year, but 
buyers and sellers are slow to come to agreements.  Some manufacturers 
are comfortable with their current inventory levels and are holding firm 
on their price positions.  Butteroil prices held steady this reporting 
period.  Market activity is mostly restricted to domestic transactions.  
Export demand remains light as supplies at lower prices are available 
from Oceania.   
 

PSA stock levels on May 24 amounted to 59,167 MT. The Netherlands, 
France, Germany and Belgium are the top four countries with the largest 
holdings in PSA stocks.  

According to Eurostat, EU butter production for March 2015 showed the 
following percentage changes for selected countries compared to March 
last year: France, +3.0%; Germany, -0.9%; Belgium, +17.2%; Ireland, +0.6% 
and the Netherlands, -19.4%.  

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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