According to the EU Commission, 54,635 tons of aid for private storage were applied for in the period from 25 February to 9 June 2013, which is 35,390 tons less than during the same period in 2012. Compared to 2011, the year in which the highest market prices for butter in the EU were recorded, this is 8,012 tons less.
This is according to the ZMP:
Due to low stocks, the EU butter market is expected to be short of supply and prices are likely to remain high in the coming fall and winter.
That's what the bull says:
Low stocks and persistently high prices inevitably result from lower production while demand remains stable.
That's what the bear thinks:
A downward price correction is to be expected soon due to an anticipated reaction in demand, especially as competing vegetable fats have become cheaper.
