Milling & Baking News - February 6, 2024 - 40

MARKET trends
thousand head
TUES | 02 06 2024
Dairy Products
DRY PRODUCTS
Feb. 2
Whey powder
Lactose
.23 @ .33
Whey protein concentrate
(34% edible)
Nonfat dry milk high-heat
Central/East
West
Nonfat dry milk
CME
Buttermilk powder
Casein - acid
Casein - rennet
f.o.b. plant, $ per lb
- Change from - Year
Jan. 26 Jan. 19 ago
.41 @ .46 +1¢
+2¢
.93 @ 1.03 +1¢
1.31 @ 1.34
Nonfat dry milk medium-low heat
Central/East
West
-
1.29 @ 1.47 +1¢
1.18 @ 1.24 +1¢
1.18 @ 1.24 +1¢
1.19½ -2½¢
1.12 @ 1.22 +2¢
3.70 @ 4
-
3.60 @ 3.90 +10¢
BUTTER
Feb. 2
Butter 93AA (CME)
$ per lb, Central
CHEESE
Feb. 2
Cheddar (Blocks 40#) 2.02
Mozzarella
American 5# loaf
$ per lb, Central
+1¢
+1¢
+1¢
-
+1¢
-
+1¢
+1¢
+2¢
-
.33
.34
1.35
1.33
1.32
1.20
1.15
1.24½
1.17
6.35
+10¢ 5.74
Dry dairy product prices mostly were
raised 1¢ to 2¢ a lb last week as processors
firmed offers amid tightening inventories.
Increased import interest from Mexico amid
lower-than-expected milk production and
a stronger value of the peso versus the US
dollar added support.
Monthly milk production continued to
- Change from - Year
Jan. 26 Jan. 19 ago
2.62¾ -13¼¢ +8¼¢ 2.37½
- Change from - Year
Jan. 26 Jan. 19 ago
CME cheddar barrels 1.46¼ -¾¢
CME cheddar blocks
2.37
1.86
-½¢
-
-
-
-
-
1.63
1.51¾ -2¢ +7¼¢ 1.86½
2.19
2.54
- 1.81¾
FLUID PRODUCTS
Feb. 2
CME class III milk
CME class IV milk
$ per cwt, Central
16.32
19.80
- Change from - Year
Jan. 26 Jan. 19 ago
+46¢ +67¢
+25¢ +76¢
Compiled from private sources,
US Department of Agriculture and CME Group.
17.93
18.76
trend below year-ago levels, but just slightly.
December milk production in the 24 major
states was 0.1% below December 2022 and has
been below year-ago levels for five of the last
six months as the number of milk cows has
held below year-ago levels since July and milk
output per cow has varied. Full-year milk
production was up 0.2% from 2022 due to
higher outturn in the first six months of 2023.
Prices for low/medium-heat nonfat dry milk
(NDM) prices firmed amid limited spot offers
and improved domestic and export demand.
High-heat NDM prices followed
higher in a quiet market.
Dry whey and 34% whey protein
concentrate (WPC) prices
firmed. Supplies tightened as
processors continued to focus
drying time on higher protein
whey concentrates and isolates
for which demand has been
robust for several weeks. Dry
whey demand was steady to
lighter in some areas, while 34%
WPC demand was strong from
both food and feed sectors.
Lactose prices rose on strong
demand for limited supplies
that were highly contracted
8,870
8,880
8,890
8,900
8,910
8,920
8,930
8,940
8,950
8,960
through the first quarter. Buyers began to
inquire about second-quarter coverage.
Dry buttermilk production was limited in
some areas as supplies of condensed buttermilk
were channeled to other food sectors.
Some processers fell behind in delivering
contracted supplies.
CME Group butter prices eased through
midweek. Cream supplies available for
churning were ample and were expected to
remain so through February. Inventory levels
varied with processors building stocks in
anticipation of stronger demand during the
spring holiday period. Retail demand was
steady to strong, and foodservice demand
was improving.
Cheese production was active. Retail
demand was mixed. Foodservice demand
improved for pizza cheeses ahead of the
National Football League's Super Bowl LVIII
game on Feb. 11. MBN
MONTHLY MILK COWS
Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec.
2022
Source: US Department of Agriculture
The number of milk cows on farms in
December was about even with November
but was down 17,000 from a year ago and
has been below 2022 levels since July.
2023
Keep your ingredient costs in line.
With our risk management program, we've been bringing you quality
ingredients at competitive prices for over 100 years.
* AA Butter - Salted & Unsalted (Domestic & Imported)
* AMF/Butteroil (Domestic & Imported)
* Whole Milk Powder (Domestic & Imported)
* Nonfat Dry Milk
* Pasteurized Grade A Fluid Sweet Cream
* Cheeses - Cheddar, Mozzarella & Cream Cheese
Contact: Fred Smith
800-441-1001
P.O. Box 335, 1407 New Road,
Linwood, NJ 08221
Email: fsmith@clofinedairy.com
www.clofinedairy.com
http://www.clofinedairy.com
Milling & Baking News - February 6, 2024

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