MD_DA124                                                         
DA                                                               
MD DA124 Butter - Oceania                                        

MADISON, WI.  July 06, 2017 (REPORT 27)                          

OCEANIA                                                          
INFORMATION GATHERED  06/26/2017 - 07/07/2017                    
U.S. DOLLARS PER METRIC TON, FOB PORT                            

BUTTER: 

      The Oceania butter price range narrowed, with prices 
increasing at the bottom of the price range but remaining steady 
at the top. Prices remain below European prices. Purchases for 
near term needs helped drive lower range pricing. Many buyers 
are being cautious and wary of higher prices, buying only as 
needed, hoping for future price softening.
       This year, January-May, New Zealand butter exports show a 9.6 
percent decline from the same period one year earlier, according to 
Eucolait. Export volumes and primary destinations are shown in the 
following table:
       
  		New Zealand Butter Exports
		 Main Three Destinations 
		 January-May 2017 
 
Destination     Quantity(MT)   Percent of Total  
China         	20,480            18.4 
Australia      	10,571             9.5 
Russia         	 7,080             6.4
 
      At GDT Event 191 on July 4, the butter all contracts price 
decreased 0.1 percent while the August contract increased 1.2 
percent.
      The Dairy Market News international monthly average price 
in dollars/metric ton for Oceania butter prices in June, 2017, 
$5,785, compares with $2,791 one year earlier. 
                                                      
                                                                 
82% BUTTERFAT:                           5,800 - 6,050           

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