Milling & Baking News - March 11, 2008 - 50
Ingredient Week
Dairy Products
Dried milk product prices were weak
but somewhat more stable than in recent
weeks. But butter and cheese prices saw
large price moves, with butter prices up
sharply and cheese prices mixed.
Nonfat dry milk prices were mostly
unchanged, but the market remained
weak due to seasonally heavy production.
Some improved domestic and export demand was noted, but inventories still were
large. Offers of high-heat nonfat dry milk
remained light with most drying capacity
focused on low-heat and medium-heat.
Buttermilk powder prices eased 5c a
lb (down 18c in two weeks) as continued
heavy butter churning produced excessive supplies of buttermilk. Demand was
light and inventories were building. Prices of 34% whey protein concentrate were
3c a lb lower as demand was lacking.
Nonfat dry milk production in January
totaled 119 million lbs, up nearly 10% from
a year earlier, the U.S. Department of Agriculture said in its latest Dairy Products
report. Production of dry whey in January
was 91.6 million lbs, down 5% from a year
Whey powder
f.o.b. plant, $ per lb
Dry products
ago, lactose production was 61.3 million
lbs, down 6%, and W.P.C. production was
32.8 million lbs, down 1%. Manufacturers'
stocks of dry whey at the end of January
totaled 67 million lbs, up 92% from a year
ago. Lactose stocks were 70 million lbs,
up 64%, and total W.P.C. stocks totaled 31
million lbs, up 13%. Stocks of high-protein
W.P.C. were down 12% at 9 million lbs,
while lower-protein W.P.C. stocks were up
28% at 22 million lbs.
Prices of cheddar cheese traded on the
Chicago Mercantile Exchange dropped
sharply, with barrels off about 10c a lb
and blocks about 17c lower. But cash
cheese prices in the Midwest for cheddar
blocks, mozzarella and American were
3@4c a lb higher. Supplies of most types
of cheese were tight.
Butter prices shot up about 10c a lb at
the C.M.E. While production was active,
Easter/Passover demand was good.
January cheese production totaled 810
million lbs, down 2% from a year earlier,
the U.S.D.A. said. Butter production in
January totaled 170 million lbs, up nearly 13% from January 2007. MBN
f.o.b. plant, $ per lb
March 7
Whey powder
.20 @ .27
Lactose
.17 @ .37
Whey protein concentrate,
(34% edible)
1.10 @ 1.15
(80% edible)
3.20 @ 3.40
Whey protein isolate
(90% edible)
4.10 @ 4.30
Nonfat dry milk high-heat
Central/East
1.35 @ 1.45
West
1.30 @ 1.45
Nonfat dry milk medium-low heat
Central/East
1.30 @ 1.35
West
1.20 @ 1.35
Nonfat dry milk
C.M.E.
1.25
Buttermilk powder 1.05 @ 1.40
Casein - acid
5.50 @ 6.40
Casein - rennet
5.70 @ 6.05
Caseinate
(f.o.b. ports)
6.75 @ 6.95
- Change from -
Feb. 29 Feb. 22
-
-2c
-
-
Year
ago
.73
.58
-3c
-
-3c
-
1.27
1.90
-
-
2.80
-
-
-8c
-
1.18
1.18
-
-
-5c
-
1.19
1.14
-4½c
-5c
-
-
-7½c
-18c
-
-
...
1.44
3.25
3.15
-
-
4.40
Cheese
$ per lb, Central
March 7
C.M.E. cheddar barrels 1.92½
C.M.E. cheddar blocks 1.89¾
Cheddar (Blocks 40#) 2.50¼
Mozzarella
2.56½
American 5# loaf
2.42¾
Cheddar barrels
- Change from - Year
Feb. 29 Feb. 22
ago
-8½c
-9½c
1.38
-16¾c -16¼c
...
+4c
+4c
1.97¼
+3¼c
+3¼c
1.96¾
+4¼c
+8c
1.71¾
Butter
$ per lb, C.M.E.
$ per lb
March 7
1.31½
C.M.E. 93AA
- Change from - Year
Feb. 29 Feb. 22
ago
+9½c
+13c
1.33¾
Fluid products
$ per cwt
March 7
C.M.E. class III milk
14.82
C.M.E. class IV milk
18.02
- Change from -
Feb. 29 Feb. 22
-
-0.33
-0.17
-0.47
Year
ago
...
14.85
Compiled from private sources, U.S. Department of Agriculture
and Chicago Mercantile Exchange.
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