MD_DA124                                                         
DA                                                               
MD DA124 Butter - Oceania                                        

MADISON, WI.  August 18, 2016 (REPORT 33)                        

OCEANIA                                                          
INFORMATION GATHERED  08/08/2016 - 08/19/2016                    
U.S. DOLLARS PER METRIC TON, FOB PORT                            

BUTTER:  

Butter prices in Oceania are higher at each end of the price 
range. The strength of EU butter prices is mentioned as a factor 
supporting increases in Oceania. Another factor is that milk 
production is still moving toward the peak and that is a factor 
in keeping butter production at current volumes. At GDT Event 
170 on August 16, butter prices for the September contract 
increased 8.2%, and the all contract butter price increased 
14.1%. Prices increased for all contract periods. Australia 
butter production during June was down 15.7% from June 2015 and 
down 4.3% July 2015-June 2016 compared with the same period one 
year earlier according to Dairy Australia. Australia butter 
exports January-June 2016 declined 4.7% from the same period of 
2015 according to Eucolait. The top three export destinations 
and percentage of total exports are: Singapore, 12.9%; UAE, 
11.7%; and China, 10.7%.
                                                                                                                       
82% BUTTERFAT:                           3,000 - 3,300    

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