Milling & Baking News - November 4, 2008 - 41
Ingredient Week
Dairy Products
Dry dairy products, cheese and butter
prices trended mostly lower last week.
The lone area of price firmness was
34% whey protein concentrate, which
advanced 2c a lb on lighter offers, smaller inventories and lower production.
Nonfat dry milk (N.D.M.) prices were
weak to 7c a lb lower. Production was
steady to stronger. Some increased interest in low-heat and medium-heat N.D.M.
was noted on ideas prices were at or near
a bottom, although most interest still was
for short-term needs. Although inventories of high-heat N.D.M. remained light
compared with those of other classes,
prices declined with the market.
The U.S. Department of Agriculture
said its Commodity Credit Corp. purchased 33,316,511 lbs of non-fortified
nonfat dry milk since Oct. 1 compared
with none a year ago. Although all sales
to the C.C.C. were in the Western region
so far, the U.S.D.A. said, values have been
pressured nationwide because of the 80ca-lb "floor" price paid by the C.C.C.
Dry whey prices fell 2c a lb on steady
to higher production and weak export
Nonfat dry milk medium-low heat West
f.o.b. plant, $ per lb
demand. Lactose prices eased 1c on heavy
supplies as well as sagging export interest.
Weak N.D.M. prices continued to spill
into the dry buttermilk market.
Cheese prices were mostly lower at the
Chicago Mercantile Exchange and at the
wholesale level. Cheddar barrel supplies remained tight. Demand was somewhat soft,
even for holiday orders. Production was
steady to lighter and was affected by the
permanent closing of a plant in the Northeast that earlier was damaged by fire, the
U.S.D.A. said. Total cheese stocks on Sept.
30 were 840 million lbs, down 5% from August but up 2% from a year ago, the U.S.D.A.
said in its latest Cold Storage report.
Butter prices at the C.M.E. declined
last week but still were about 30% above
year-ago values. Production held strong.
Domestic demand remained good with
Thanksgiving orders nearly completed
and Christmas booking under way. Retail
features were anticipated, but restaurant
demand was mixed because of the slow
economy. Export demand was light. Sept.
30 butter stocks were 186 million lbs,
down 13% from August and down 23%
from last year, the U.S.D.A. said. MBN
Butter
$ per lb, C.M.E.
Dry products
f.o.b. plant, $ per lb
Oct. 31
Whey powder
.15 @ .20
Lactose
.12 @ .22
Whey protein concentrate,
(34% edible)
.35 @ .45
(80% edible)
2.65 @ 2.85
Whey protein isolate
(90% edible)
4.50 @ 5.00
Nonfat dry milk high-heat
Central/East
1.05 @ 1.15
West
.99 @ 1.24
Nonfat dry milk medium-low heat
Central/East
.95 @ 1.05
West
.85 @ 1.00
Nonfat dry milk
C.M.E.
1.08
Buttermilk powder .85 @ .95
Casein - acid
4.95 @ 5.35
Casein - rennet
4.70 @ 5.25
Caseinate
(f.o.b. ports)
5.50 @ 5.75
- Change from -
Oct. 24 Oct. 17
-2c
-2c
-1c
-1c
Year
ago
.41
.35
+2c
-
+2c
-
1.28
3.40
-
-
4.30
-7c
-1c
-7c
-11c
2.06
2.01
-3c
-
-10c
-
2.00
1.94
-2c
-
-
-
-2c
-
-
-
2.02
1.95
5.75
5.35
-
-
7.10
Cheese
$ per lb, Central
Oct. 31
C.M.E. cheddar barrels 1.68½
C.M.E. cheddar blocks 1.60¾
Cheddar (Blocks 40#) 2.44¼
Mozzarella
2.42¼
American 5# loaf
2.27¼
- Change from - Year
Oct. 24 Oct. 17
ago
- -21½c
1.91¾
-13c -18¼c
...
-3½c
-3½c
2.37
-4¼c
-3¼c
2.43¼
-6½c
-2½c
2.34¼
Butter
$ per lb, Central
Oct. 31
1.68½
C.M.E. 93AA
- Change from - Year
Oct. 24 Oct. 17
ago
-6½c
-5½c 1.30½
Fluid products
$ per lb, Central
Oct. 31
C.M.E. class III milk
15.47
C.M.E. class IV milk
15.40
- Change from -
Oct. 24 Oct. 17
-151c
-148c
-
-
Year
ago
18.50
21.00
Compiled from private sources, U.S. Department of Agriculture
and Chicago Mercantile Exchange.
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