MD_DA104                                                         
DA                                                               
MD DA104 Butter/Butteroil - Europe                               

MADISON, WI.  June 25, 2015 (REPORT 25)                          

WESTERN EUROPE                                                   
INFORMATION GATHERED  06/15/2015 - 06/26/2015                    
U.S. DOLLARS PER METRIC TON, FOB PORT                            
                                                                 
WESTERN EUROPE                                                   
                                                                 
BUTTER/BUTTEROIL:  

Butter prices moved higher while the butter market overall has moved into 
better balance.  Contracting for the second half of the year is slow to 
finalize as price expectations between buyer and seller differ 
considerably.  Most current term needs are covered.  Price stability is 
expected in coming weeks.  Export demand has declined and European 
customers are increasingly able to absorb volumes manufactured.  Seasonal 
demand for cream has increased, notching cream prices higher.  PSA stock 
levels on June 7 amounted to 66,924 MT. The Netherlands, Germany and 
Ireland have made significant additions to PSA stocks in the weeks 
leading up to June 7.  The Netherlands and France comprise a majority of 
the holds in the PSA scheme.   January-April 2015 butter exports for the 
EU-28, as reported by GTIS, increased 16.0% compared to the same period 
last year.  April exports set a monthly high of 13,677MT.  The top three 
destinations were Saudi Arabia, Egypt and the United States.  Butteroil 
prices also increased this reporting period.  Export demand remains light 
as lower prices are available via the Oceania market.  
                                              
82% BUTTERFAT:            3,250 - 3,500                          
99% BUTTERFAT:            3,925 - 4,250                          

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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