Butter/Butteroil - Europe
USDA - Thu Nov 09, 9:19AM CST
MD_DA104                                                         
DA                                                               
MD DA104 Butter/Butteroil - Europe                               

MADISON, WI.  November 09, 2017 (REPORT 45)                      

WESTERN EUROPE                                                   
INFORMATION GATHERED  10/30/2017 - 11/10/2017                    
U.S. DOLLARS PER METRIC TON, FOB PORT                            
                                                                 
WESTERN EUROPE                                                   
                                                                 
BUTTER/BUTTEROIL:  

	Butter prices in Western Europe are lower, as are butteroil prices. Butter 
markets in early November are viewed as calm. Retail packaged butter prices in 
Germany slightly firmed following a revival in orders after recent holidays. 
Dairy contacts believe retailers are beginning stock replenishment. Manufacturers 
are being cautious about contracting for 2018 due to price uncertainty. Contracts 
finalized for the first quarter of 2018 tend to be at slightly higher prices than 
current pricing. The majority of future sales behavior is restrained.
       January-September EU butter exports, 101,937 MT, decreased 16.9 percent from 
the same period one year earlier, according to Eucolait. The range of monthly 
percentage changes in cumulative export volumes varies from -21.5 percent in 
February, to -10.5 percent in January. Export volumes and primary destinations 
are shown in the following table:
       
                                                                               EU Butter Exports
                           Main Three Destinations 
                           January-September 2017 
 
Destination                Quantity(MT)   Percent of Total  
USA                        18,968                18.6
Saudi Arabia                6,739                 6.6        
Iran                        6,400                 6.3

       January-September EU butteroil exports, 21,452 MT, decreased 29.5 percent 
from the same period one year earlier, according to Eucolait. The range of 
monthly percentage changes in cumulative export volumes varies from -62.4 percent 
in January, to -27.7 percent in June. Export volumes and primary destinations are 
shown in the following table:

                                                                        EU Butteroil Exports
                           Main Three Destinations 
                           January-September 2017 
 
Destination                Quantity(MT)   Percent of Total  
China                      4,133                 19.3
Saudi Arabia               2,773                 12.9        
Indonesia                  2,124                  9.9

                                             
82% BUTTERFAT:            5,750 - 6,100                          
99% BUTTERFAT:            7,275 - 7,900          

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