MD_DA104                                                         
DA                                                               
MD DA104 Butter/Butteroil - Europe                               

MADISON, WI.  July 09, 2009 (REPORT 27)                          

WESTERN EUROPE                                                   
INFORMATION GATHERED  06/29/2009 - 07/10/2009                    
U.S. DOLLARS PER METRIC TON, FOB PORT                            
                                                                 
WESTERN EUROPE                                                   
                                                                 
BUTTER/BUTTEROIL:  European butter markets are steady to firm with prices 
unchanged to slightly higher.  The milk production season is generally on the 
downside, thus churning is also trending lower.  In recent weeks, clearances to 
intervention and PSA have been strong, but these offering have declined 
considerably.  Intervention totals are nearing 82,000 MT with PSA totals nearing 
100,000 MT.  

82% BUTTERFAT:            3,000 - 3,200                          
99% BUTTERFAT:            3,100 - 3,400

0930c steve Schneeberger  (608)250-3204