MD_DA104 DA MD DA104 Butter/Butteroil - Europe MADISON, WI. January 19, 2017 (REPORT 3) WESTERN EUROPE INFORMATION GATHERED 01/09/2017 - 01/20/2017 U.S. DOLLARS PER METRIC TON, FOB PORT WESTERN EUROPE BUTTER/BUTTEROIL: Western European butter prices are lower to steady. Butteroil prices strengthened at each end of the price range. Packaged butter sales have not yet increased to normal expectations for this time of year. Block butter interest is somewhat stronger than packaged butter. Cream prices in Western Europe have weakened. Current butter prices have moved down from the high point near the end of 2016. However, prices remain above levels prevailing for most of 2016. This has some buyers tempering purchases to evaluate future price trends. EU butter exports for 2016 through November compared with the same period of 2015 increased 27.5% according to Eucolait. The main destinations and percentage of total were Saudi Arabia, 11.9%; USA, 11.4%; and Egypt, 8.0%. EU butter imports for the period decreased 16.3%. Main origins and percentage of the total were New Zealand, 74.1%; Iceland, 6.1%; and Ukraine, 5.7%. Export volumes were over twenty three times that of import volumes. 82% BUTTERFAT: 4,525 - 4,650 99% BUTTERFAT: 4,400 - 5,300 0930c eric.graf@ams.usda.gov USDA/AMS/Dairy Market News, Madison, Wisconsin Dairy Market News website: http://www.ams.usda.gov/market- news/dairy Dairy Market News database portal: http://www.marketnews.usda.gov/mnp/da-home