European Dairy Market Summary

MADISON - Nov 24/09 - SNS -- Dairy market conditions in western and eastern Europe were reviewed in the latest report on the sector released by the USDA today.

CENTRAL BUTTER:

The CME cash butter price continues to hold steady at $1.5250 on
Tuesday.  Churning activity is somewhat stronger early in the
week as more cream was starting to become available.  Butter
producers anticipate that cream offerings will increase as the
upcoming holiday and weekend nears.  Butter demand has slowed
this week, which is typical for a holiday week.  Most buyers will
wait to see how butter stocks cleared their operations before
placing additional butter orders above and beyond scheduled
deliveries.  Suppliers and handlers indicate that butter supplies
are sufficient for future needs with fresh production seasonally
active and inventoried stock levels well above a year ago.
Central butter producers continue to report international buyer
interest.  Some are acknowledging this buyer interest for near
term deliveries, while others are considering early 2010
participation.  Food service orders remain fair at best as
restaurant and food service buyers exercise caution with their
purchasing patterns.  Spot bulk butter prices range from 2 - 4
cents over various pricing bases and averages per pound.

1400C steve Schneeberger  (608)250-3204

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STAT News Service