MD_DA124                                                         
DA                                                               
MD DA124 Butter - Oceania                                        

MADISON, WI.  March 17, 2016 (REPORT 11)                         

OCEANIA                                                          
INFORMATION GATHERED  03/07/2016 - 03/18/2016                    
U.S. DOLLARS PER METRIC TON, FOB PORT                            

BUTTER:    

Butter pricing in Oceania weakened at both ends of the price range, moving 
closer to pricing levels in the EU. At the March 15 GDT event #160, NZ 
butter averaged $2,660/MT for May contracts, -5.8% from the prior event. 
There was no trading for the April 16 contract, considered to be an 
indicator of buyers not feeling the need to add to holdings. Butter for 
all regions and contracting periods averaged $2,733/MT, -2.8%. New Zealand 
AMF prices averaged $2,920/MT for May contracts, -9.7% from the prior 
event. For all contracting periods, the AMF price average was $3,014/MT, -
6.5%. Dairy Australia reports that January 2016 butter exports were 42.5% 
below the volume of exports during January 2015. The January 2016 value of 
butter exports was 36.3% below 2015. Butter in the region is in heavy 
supply, with manufacturers preferring to limit production to filling 
current orders.
                                                                 
82% BUTTERFAT:                           2,650 - 2,850           


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