MD_DA124                                                         
DA                                                               
MD DA124 Butter - Oceania                                        

MADISON, WI.  May 23, 2013 (REPORT 21)                           

OCEANIA                                                          
INFORMATION GATHERED  05/13/2013 - 05/24/2013                    
U.S. DOLLARS PER METRIC TON, FOB PORT                            

BUTTER:  Oceania butter prices are trending lower.  The market 
tone is slightly weaker, coming off the recent increases.  
Demand is light to fair and met with a limited offering as the 
production season dips.  Butter production is trending lower.  
Consumer product interest is capturing more cream needs in 
Australia with more products being made.  International 
shipments are occurring for sales on the books, but new orders 
are limited.  Holdings are generally in good shape to service 
accounts.  At the May 15 gDT event, butter averaged $3,890/MT 
for the July contracts, -15.0%, and $3,846/MT for all contract 
periods, -12.4%.  AMF prices averaged $4,762/MT for the nearby 
July contracts, +2.6% from the prior event.  The AMF price 
average was $4,598/MT for all contract periods, -0.2%.  
                                                                                                                                  
82% BUTTERFAT:                           3,800 - 4,500           

0930c Butch Speth Butch.Speth@ams.usda.gov 608.278.4152