Milling & Baking News - May 3, 2011 - 55

Dairy Products
Dry dairy product prices were steady to higher last week, butter prices advanced and cheese prices were mixed. Milk supplies were seasonally increasing. Nonfat dry milk prices were unchanged in the Central and East and steady to firmer in the West. Production of low-heat product increased in all areas. Demand was moderate to good, but sales were on the slow side. Production of high-heat N.D.M. was limited to contract fulfillment. Prices of 34% whey protein concentrate surged 20c a lb as quarterly contracts were adjusted to higher index levels, according to the U.S. Department of Agriculture. Production was steady, and demand remained good for available supplies. Dry whey prices advanced 3c a lb in the Central region but were slightly weaker in the West. Production levels varied, and inventories generally were light. Demand was good in most areas. Lactose values were 1c a lb higher, reflecting stronger contracted values amid ongoing good demand. Buttermilk powder prices were steady amid balanced supplies and slow trading. Casein prices were unchanged but

with a firm undertone on tight supplies. C.M.E. Group cheddar and wholesale cheese prices saw narrow changes. Production rose as milk supplies increased, but demand was mostly good. “The concern for process and mozzarella/pizza demand is that with high gas prices, summer travel may be curtailed and reduce cheese use in vacation locations,” the U.S.D.A.’s Market News Service said. C.M.E. Group butter prices firmed despite increased churning. Buyers assessed inventory levels after better-thanexpected Easter/Passover orders. Butter makers sought to rebuild low inventory levels before milk supplies seasonally decline and ahead of increased demand for cream from ice cream manufacturers. Production of nonfat dry milk in 2010 was 1,563 million lbs, up 3% from 2009, edible dry whey was 961 million lbs, up 1%, edible whey protein concentrate was 393 million lbs, up 5%, lactose was 907 million lbs, up 26%, and dry buttermilk was 82 million lbs, up 10%, the U.S.D.A. said in its Dairy Products 2010 Summary. Butter output was 1,564 million lbs, down 0.5% from 2009. Cheese production totaled 10,436 million lbs, up 4%. MBN

Dry products
f.o.b. plant, $ per lb Apr. 29 Whey powder .45 @ .52 Lactose .41 @ .51 Whey protein concentrate, (34% edible) 1.40 @ 1.50 (80% edible) 3.00 @ 3.30 Whey protein isolate (90% edible) 4.60 @ 5.10 Nonfat dry milk high-heat Central/East 1.60 @ 1.80 West 1.60 @ 1.80 Nonfat dry milk medium-low heat Central/East 1.55 @ 1.65 West 1.56 @ 1.65 Nonfat dry milk C.M.E. 1.62 Buttermilk powder 1.40 @ 1.55 Casein - acid 4.70 @ 5.10 Casein - rennet 4.75 @ 5.15 Caseinate (f.o.b. ports) 5.40 @ 5.75 — Change from — Apr. 21 Apr. 15 +3c +3c +1c +1c +20c — — — — — +1c -½c — — — — +20c — — — +2c — +4c +3c — — — — Year ago .32 .30 .90 2.25 4.60 1.30 1.16 1.23 1.15 1.10 1.00 3.60 3.60 4.05

Cheese
$ per lb, Central Apr. 29 C.M.E. cheddar barrels 1.60¼ C.M.E. cheddar blocks 1.61¼ Cheddar (Blocks 40#) 2.49¼ Mozzarella 2.46 American 5# loaf 2.09¼ — Change from — Year Apr. 21 Apr. 15 ago +2¼c -2¼c 1.38 +1¼c -1½c 1.38¾ -½c +1½c 2.18¼ -½c +1¾c 2.19 +3c +6¼c 1.79¾ — Change from — Apr. 21 Apr. 15 +7½c +7½c — Change from — Apr. 21 Apr. 15 +42c -12c +10c +45c Year ago 1.62 Year ago 14.61 13.43

C.M.E. 93AA Butter
f.o.b. plant, $ per lb
$2.30 $2.00

Nonfat dry milk high-heat Central
$ per lb, C.M.E.
$1.80 $1.60 $1.40

Butter
$ per lb, Central C.M.E. 93AA Apr. 29 2.07½

Fluid products
$ per lb, Central Apr. 29 C.M.E. class III milk 17.30 C.M.E. class IV milk 20.40

$1.70 $1.40 A J O J
A J O J

$1.20 $1.00

Compiled from private sources, U.S. Department of Agriculture and Chicago Mercantile Exchange.

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