MD_DA124                                                         
DA                                                               
MD DA124 Butter - Oceania                                        

MADISON, WI.  September 29, 2016 (REPORT 39)                     

OCEANIA                                                          
INFORMATION GATHERED  09/19/2016 - 09/30/2016                    
U.S. DOLLARS PER METRIC TON, FOB PORT                            

BUTTER:  

Butter prices this week slightly declined at the top of the price 
range and remained steady at the bottom. The decline at the top of the 
price range moves that price down from what had been the highest range 
top price of 2016, while the lower range price remains at the highest 
point of the year. Some manufacturers have adjusted market pricing 
following the GDT results last week. There is a good supply of butter 
available and buyers do not feel pressured to finalize purchases. New 
Zealand butter exports January-July 2016 increased 5.5% from the same 
period of 2015 according to Eucolait. The top three export 
destinations and percentage of total exports are: China, 16.5%; Iran, 
14.0%; and Egypt, 10.0%. GDT event 172 on September 20 yielded butter 
prices for the October 2016 contract down 2.0% and for all contracts 
up 3.6%.
                                                                 
82% BUTTERFAT:                           3,850 - 3,925  

0930c Eric.Graf@ams.usda.gov 
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