Dry Whey - Central
MD_DA530

     Dry Whey - Central U.S.

     Report 49 - Released on December 06, 2018

     Dry whey prices are unchanged on a somewhat quiet spot market this week. Regionally, offers
     are up, but fewer reported deals were relayed. Some local buyers have said that even with
     higher freight costs they can get lower prices from Western suppliers. Thus, some Central
     manufacturers have begun to increase production schedules. Both buyers and sellers relay
     working on 2019 contracts, both quarterly and annual. Animal feed whey trades were busy on
     the resale market, but steady to quieter on the first-trade spot market. Both buyers and
     sellers have suggested that resales are also close to or within the current price range.
     While supplies are not overly abundant, buyers are hesitant and/or supplied, thus creating a
     bearish tilt on the dry whey market tone scale.

     The DMN monthly average of the mostly price series for Central dry whey during November was
     $0.4550, compared to $0.4473 in October. The monthly average of the range price series for
     Central animal feed whey during November was $0.3263, compared to $0.3384 in October.
     Prices for: Central U.S., All First Sales, F.O.B., Extra Grade & Grade A, Conventional, and
     Edible Dry Whey
     Price Range - Animal Feed; $/LB:                       .3000 - .3550


     Prices for: Central U.S., All First Sales, F.O.B., Extra Grade & Grade A, Conventional, and
     Edible Dry Whey
     Price Range - Non-Hygroscopic; $/LB:                   .3600 - .5000
     Mostly Range - Non-Hygroscopic; $/LB:                  .4400 - .4700

     Information for the period December 3 - 7, 2018, issued weekly

     Secondary Sourced Information:

     The CME Group monthly average price for Extra Grade Whey during November was $0.4331,
     compared to $0.5329 in October.

     Dairy Products Report � Whey Summary
     Released December 4, 2018, by the National Agricultural Statistics Service (NASS),
     Agricultural Statistics Board, United States Department of Agriculture (USDA).


     Dry Whey (Human) Production � States and United States
                     Monthly Production (1000 pounds)   Percent Change from
                          Oct.      Sep.       Oct.       Oct.     Sep.
     Region               2017      2018       2018       2017     2018
     United States      79,271    70,015     85,549        7.9     22.2

      Atlantic          20,437    20,399     20,621        0.9      1.1

      Central           38,381    33,297     33,905      -11.7      1.8
       Wisconsin        26,706    24,231     24,563       -8.0      1.4

      West              20,453    16,319     31,023       51.7     90.1

     Dry Whey � Cumulative Production January - October
                     Cumulative Production   Percent Change
                         (1000 pounds)         from
     Dry Whey             2017      2018       2017
      Total1           869,223   859,015       -1.2
      Human2           853,072   843,239       -1.2
     1. Excludes all modified dry whey products.
     2. Values are calculated from Dairy Products report data.

     Manufacturers' stocks end of month3
                     End of month stocks (1000 pounds)  Percent Change from
                          Oct.      Sep.       Oct.       Oct.     Sep.
     Dry Whey             2017      2018       2018       2017     2018
      Human             92,316    68,174     72,450      -21.5      6.3
      Animal             1,607     1,637      1,686        4.9      3.0
     Total              93,923    69,811     74,136      -21.1      6.2
     3. Stocks held by manufacturers at all points and in transit.
     Published by:
     Dairy Market News - Madison, WI
     ISRAEL WEBER, 608-422-8601
     Email: israel.weber@ams.usda.gov

     Additional Dairy Market News Information:
     Dairy Market News (DMN) by Phone: (608)422-8602
     DMN Website: http://www.ams.usda.gov/market-news/dairy
     DMN Database Portal: http://www.marketnews.usda.gov/mnp/da-home