MD_DA124                                                         
DA                                                               
MD DA124 Butter - Oceania                                        

MADISON, WI.  September 14, 2017 (REPORT 37)                     

OCEANIA                                                          
INFORMATION GATHERED  09/04/2017 - 09/15/2017                    
U.S. DOLLARS PER METRIC TON, FOB PORT                            

BUTTER:  

       Oceania butter prices increased at the bottom of the price range, but 
are steady at the top. There is buyer caution as to higher prices at the 
upper end of the price range. It has been noted that the size of the gap 
between what many potential buyers would like to pay, and what a number of 
sellers would like to receive, has slowed the execution of transactions. 
Nevertheless, the lower range prices strengthened in response to buyers 
deciding to snap up what they could at lower prices for now, helping drive 
those prices higher.

       January-July, the range of percentage changes year to date in 
cumulative New Zealand butter export volumes vary from -27.9 percent in 
January, to June's -8.6 percent. Export volumes and primary destinations are 
shown in the following table:
 
                        New Zealand Butter Exports
                         Main Three Destinations 
                           January-July 2017 
 
Destination           Quantity(MT)   Percent of Total  
China                   36,145          23.3
Australia               13,566           8.7
Iran                     7,882           5.1


       At GDT Event 195 on September 5, the butter all contracts price, 
$5,954, increased 3.8 percent. 


82% BUTTERFAT:                           5,950 - 6,450           


0930c MIKE.BANDLI@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