MD_DA124 DA MD DA124 Butter - Oceania MADISON, WI. March 05, 2015 (REPORT 9) OCEANIA INFORMATION GATHERED 02/23/2015 - 03/06/2015 U.S. DOLLARS PER METRIC TON, FOB PORT BUTTER: Butter prices moved higher this reporting period. Demand is good and export buying interest has increased from some regions. Market activity was fairly active as some buyers are securing supplies ahead of possible future price increases. Supplies are more readily available in New Zealand than Australia, as Australian stocks are mostly committed to cover domestic needs. Export demand is primarily coming from the Middle East and Southeast Asia. Butteroil prices moved higher this reporting period with buyer concerns about reduced future supplies and increased buying activity from Southeast Asia. According to GTIS, China's January 2015 butter imports reflected a 16% decline compared to last year, but above the 2013 volumes. AMF imports were down 67% for the same period last year and below 2013 levels. New Zealand accounted for the vast majority of butter and AMF going into China. At the March 3 GDT event #135, NZ butter averaged $3,930/MT for May contracts, +3.6% from the prior event. Butter for all regions and contracting periods averaged $3,912/MT, +2.5%. New Zealand AMF prices averaged $4,246/MT for May contracts, -1.1% from the prior event. For all contracting periods, the AMF price average was $4,237/MT, -2.2%. 82% BUTTERFAT: 3,800 - 4,150 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