MD_DA124                                                         
DA                                                               
MD DA124 Butter - Oceania                                        

MADISON, WI.  February 04, 2010 (REPORT 5)                       

OCEANIA                                                          
INFORMATION GATHERED  01/25/2010 - 02/05/2010                    
U.S. DOLLARS PER METRIC TON, FOB PORT                            

BUTTER:  Oceania butter markets and prices are unchanged to lower.  
Lower prices are not indicative of supply/demand imbalance, but rather 
responding to other lower international prices.  Butter and butterfat 
demand remains strong.  In most instances, strong butter oil demand 
early in the season limited butter production at that time, thus butter 
stocks are often hard to locate.  In many instances, customers are 
asking for more than suppliers are able to supply.  At the most recent 
global/Dairy Trading event on February 2, anhydrous milk fat averaged 
$4,183 per MT, down 7.9% from the previous event.  April deliveries 
averaged $4,130 (-7.8%); May - July deliveries averaged $4,175 (-6.8%); 
and August - October deliveries averaged $4,145 (-11.7).                                                             
                                                                 
82% BUTTERFAT:                           3,500 - 3,950

0930 steve Schneeberger  (608)250-3204