MD_DA124                                                         
DA                                                               
MD DA124 Butter - Oceania                                        

MADISON, WI.  February 19, 2015 (REPORT 7)                       

OCEANIA                                                          
INFORMATION GATHERED  02/09/2015 - 02/20/2015                    
U.S. DOLLARS PER METRIC TON, FOB PORT                            

BUTTER:  Prices for butter moved substantially higher over market concerns 
regarding the possibility of reduced supplies.  Demand for butter has 
increased as buyers are anxious to purchase ahead of possible future price 
increases.  Available export supplies out of Oceania are primarily out of 
New Zealand.  Australian supplies are tight with some manufacturers having 
committed stocks through Q2 and a few marginally oversold.  Butteroil 
production remains restricted, due to good demand for cream and cream 
based products.  Some increased demand is being noted as butter prices 
have climbed to a level where buyers from some countries find it more 
economical to purchase butteroil.  At the February 17 GDT event #134, NZ 
butter averaged $3,795/MT for April contracts, -1.6% from the prior event.  
Butter for all regions and contracting periods averaged $3,823/MT, +1.1%.  
New Zealand AMF prices averaged $4,281/MT for April contracts, +6.3% from 
the prior event.  For all contracting periods, the AMF price average was 
$4,314/MT, +6.4%.  

82% BUTTERFAT:                           3,600 - 4,100           

0930C rick.whipp@ams.usda.gov 608.278.4151
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-home