MD_DA124                                                         
DA                                                               
MD DA124 Butter - Oceania                                        

MADISON, WI.  October 13, 2016 (REPORT 41)                       

OCEANIA                                                          
INFORMATION GATHERED  10/03/2016 - 10/14/2016                    
U.S. DOLLARS PER METRIC TON, FOB PORT                            

BUTTER:                                                          
                                                                 
82% BUTTERFAT:                           3,900 - 4,025           

Butter prices in Oceania firmed this week, climbing to the 
highest level of 2016. This follows GDT event 173 on October 4, 
which yielded butter prices for the November 2016 contract up 
7.2%, and for all contracts down 0.3%. Many buyers are motivated 
to secure supplies now due to perceived potential for further 
price firming. The Dairy Market News September 2016 monthly 
average for Oceania butter, $3,860/metric ton, is 29.5% above 
September 2015.
Australian butter exports July-August 2016 decreased 6.7% in 
volume from the same period of 2015. The value of those exports 
this year are 14.9% below last year, according to Dairy 
Australia. New Zealand butter exports January-August this year 
are up 4.2% over the same period last year. Primary destinations 
and percent of total butter exports are: China, 17%; Iran, 
12.0%; and Egypt, 10.0%, according to Eucolait.

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