MD_DA124                                                         
DA                                                               
MD DA124 Butter - Oceania                                        

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

OCEANIA                                                          
INFORMATION GATHERED  06/01/2015 - 06/12/2015                    
U.S. DOLLARS PER METRIC TON, FOB PORT                            

BUTTER:  Prices for butter moved significantly lower.  Demand has weakened 
as most buyers have their near term needs covered.  Current butter 
production in Oceania is very limited, following the seasonal decline in 
milk production and also due to increased demand for fluid cream, cream 
cheese and other cream based products.  Supplies available for export are 
primarily located in New Zealand.  Some manufacturers are offering butter 
at a discount ahead of the close of their financial year, while others are 
content to hold their remaining inventories. Some Oceania manufacturers 
are eager to get sales on the books for the new production year with 
offerings at lower prices.  The market has a weak undertone.  

At the June 2 GDT event #141, butter prices averaged $2,660/MT for August 
contracts, -8.0% from the prior event.  Butter prices averaged $2,619/MT 
for all contracting periods, -10.0% from the prior event.  AMF prices 
averaged $3,058/MT for August contracts, -9.0% from the prior event.  For 
all contracting periods, the AMF price average was $3,112/MT, -7.4%.  
                                                                                                                         
82% BUTTERFAT:                           2,550 - 3,300           

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-home