Milling & Baking News - July 15, 2008 - 41
Ingredient Week
Dairy Products
Dairy product prices were mostly lower last week with the exception of nonfat
dry milk (N.D.M.), which was steady to
1c a lb higher, and cheddar cheese.
Production of N.D.M. was about
steady. Export demand was stronger than
domestic interest, but spot offers were
limited. Supplies of high-heat N.D.M.
were especially tight in the East, where
demand was growing. In its latest Dairy
Products report, the U.S. Department of
Agriculture said N.D.M. production in
May was 129 million lbs, up 12% from a
year ago. May 31 stocks were 125 million
lbs, 36% above year-ago levels.
Buttermilk powder prices were 9c a lb
lower, although the weakness was in the
Central and East, where demand was light
and inventories were growing, while prices
in the West were firm.
Prices of 34% whey protein concentrate
were down 2c a lb as demand waned and
stocks increased. Values declined 31%
since late May and were the lowest since
October 2006. Production of edible whey
protein concentrate in May was 34 million lbs, up 14% from May 2007, but end-
Whey powder
f.o.b. plant, $ per lb
of-month stocks were near 42 million lbs,
up 77% from a ago, the U.S.D.A. said.
Dry whey prices were unchanged, but
a weak tone was noted in the market. Production eased, but so did demand and inventories were building. Output of edible
dry whey in May was 91 million lbs, down
2% from last year, but stocks were 63 million lbs, up 52% from May 31, 2007.
Lactose prices dropped 3c a lb. Buyers
were reluctant to place orders in a declining market. May lactose output was
66 million lbs, down 3% from 2007, while
stocks were 79 million lbs, up 84%.
Cheese prices declined as demand remained only fair and offers were ample,
although a late bounce moved cheddar
prices in Chicago higher. Some new buying interest was noted at current price
levels, which were down 20% from late
May. Cheese output in May totaled 828
million lbs, up slightly from May 2007,
the U.S.D.A. said.
After climbing steadily since mid-June,
butter prices eased slightly. Production
increased. May U.S. butter production
was 144 million lbs, up 16% from a year
ago, the U.S.D.A. said. MBN
Cheddar barrels
$ per lb, C.M.E.
Dry products
f.o.b. plant, $ per lb
July 11
Whey powder
.24 @ .29
Lactose
.20 @ .30
Whey protein concentrate,
(34% edible)
.73 @ .83
(80% edible)
2.65 @ 2.85
Whey protein isolate
(90% edible)
4.50 @ 5.00
Nonfat dry milk high-heat
Central/East
1.41 @ 1.61
West
1.43 @ 1.53
Nonfat dry milk medium-low heat
Central/East
1.45 @ 1.50
West
1.41 @ 1.46
Nonfat dry milk
C.M.E.
1.44
Buttermilk powder 1.26 @ 1.41
Casein - acid
5.50 @ 6.10
Casein - rennet
5.70 @ 6.05
Caseinate
(f.o.b. ports)
5.75 @ 5.95
- Change from -
July 3 June 27
-
-
-3c
-3c
Year
ago
.67
.90
-2c
-
-14c
-
1.62
3.40
-
-
4.30
+1c
-
+1c
+3c
2.04
2.03
-
+1c
-
+3c
2.03
1.98
-1c
-9c
-
-
...
-9c
-
-
...
2.05
4.75
4.25
-
-
6.15
Cheese
$ per lb, Central
July 11
C.M.E. cheddar barrels 1.92
C.M.E. cheddar blocks 1.93¼
Cheddar (Blocks 40#)
2.43
Mozzarella
2.49¼
American 5# loaf
2.41¾
- Change from -
July 3 June 27
+4½c
-4c
+1c
+1¼c
- ¼c
-3¾c
- ¼c
-3¾c
-2½c
-5¼c
Year
ago
1.92½
...
2.27¼
2.30¾
2.24¾
Butter
$ per lb, Central
July 11
1.55
C.M.E. 93AA
- Change from - Year
July 3 June 27
ago
-¼c
+½c 1.47¼
Fluid products
$ per lb, Central
July 11
C.M.E. class III milk
18.13
C.M.E. class IV milk
16.95
- Change from -
July 3 June 27
...
...
...
...
Year
ago
...
...
Compiled from private sources, U.S. Department of Agriculture
and Chicago Mercantile Exchange.
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