MD_DA124                                                         
DA                                                               
MD DA124 Butter - Oceania                                        

MADISON, WI.  October 27, 2016 (REPORT 43)                       

OCEANIA                                                          
INFORMATION GATHERED  10/17/2016 - 10/28/2016                    
U.S. DOLLARS PER METRIC TON, FOB PORT                            

BUTTER:   

Oceania butter prices firmed at the bottom of the price range to the 
highest low end level of 2016, but are unchanged at the top, also the 
highest of 2016. Stocks of butter are being drawn down. There is 
little expectation of production significantly increasing in coming 
weeks, which some observers believe may support prices trending up 
looking forward. GDT event 174 on October 18 yielded butter prices 
for the November 2016 contract down 4.8%, but for all contracts 
up 2.6%.

                                                              
82% BUTTERFAT:                           3,975 - 4,025           

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