D_DA124                                                         
DA                                                               
MD DA124 Butter - Oceania                                        

MADISON, WI.  February 04, 2016 (REPORT 5)                       

OCEANIA                                                          
INFORMATION GATHERED  01/25/2016 - 02/04/2016                    
U.S. DOLLARS PER METRIC TON, FOB PORT                            

BUTTER:    

Butter markets are complicated. While GDT pricing showed some declines, 
market transactions held up better. Long term buyers from regular 
suppliers often continued transactions at stable pricing. Butter for 
export is getting harder to find on short notice. Butter inventory 
building has slowed with manufacturers deciding it is more profitable to 
channel some milkfat into cheese, whole milk powder or cream cheese. 
According to Eucolait, New Zealand's exports of butter in 2015 decreased 
4.9%. China is the top customer for butter. At the February 2 GDT event 
#157, NZ butter averaged $2,880/MT for April contracts, -8.3% from the 
prior event. Butter for all regions and contracting periods averaged 
$2,905/MT, -8.3%.  New Zealand AMF prices averaged $3,478/MT for April 
contracts, -7.1% from the prior event.  For all contracting periods, the 
AMF price average was $3,486/MT, -6.6%.  
                                                      
                                                                 
82% BUTTERFAT:                           2,900 - 3,200           



0930c Eric.Graf@ams.usda.gov 608.557.7005
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