MD_DA124                                                         
DA                                                               
MD DA124 Butter - Oceania                                        

MADISON, WI.  September 03, 2015 (REPORT 35)                     

OCEANIA                                                          
INFORMATION GATHERED  08/24/2015 - 09/04/2015                    
U.S. DOLLARS PER METRIC TON, FOB PORT                            

BUTTER: Butter prices are steady to higher. Production is increasing as 
producers are finding it more prosperous to make butter and skim milk 
powder instead of other commodities. Export demand is steady to 
increasing, but some manufacturers are short on supply for exports. 
Russian embargos have been lifted for some exporters. The high U.S. butter 
prices have also led to lower U.S. export sales, which allows the rest of 
the world to compete for those sales. According to GTIS, New Zealand 
butter exports increased slightly in July, but are down 11.3% year-to-date 
due to China and Iran importing much less. At the September 1 GDT event 
#147, unsalted butter prices averaged $2,670/MT for November contracts, 
+3.5% from the prior event. Butter prices averaged $2,746/MT for all 
contracting periods, +8.1% from the prior event. AMF prices averaged 
$2,943/MT for November contracts, +7.5% from the prior event. For all 
contracting periods, the AMF price average was $3,029/MT, +11.7%.  

               
                                                                 
82% BUTTERFAT:                           2,650 - 3,000           
                                                  

                                                                                                         
0930C Tara.Herbst@ams.usda.gov 608.557.7007
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