Milling & Baking News - February 26, 2008 - 62

Ingredient Week

 Dairy Products

The market for dried milk products and
butter continued to weaken last week,
while cheese prices increased. Seasonally
heavy milk supplies were a pressuring
factor. A shortage of shipping containers
limited export potential of some products.
High-heat nonfat dry milk (N.D.M.)
prices were 2@10c a lb lower, with the
largest drop in the West due to light
buying interest, although inventories
generally are light, according to the U.S.
Department of Agriculture. Low- and
medium-heat N.D.M. prices were unchanged, but the market was weak due
to heavy production, light to fair demand and building inventories.
Dry whey prices lost 2c a lb as production remained heavy. But improved
buying interest was developing at lower
price levels. Thirty-four per cent whey
protein concentrate (W.P.C.) prices were
2c a lb lower with some dryers reporting burdensome inventories. Buttermilk
powder prices also dropped 2c a lb as
heavy butter churning resulted in ample
supplies of buttermilk to dry.

Exports of N.D.M. in 2007 totaled 568
million lbs, down 10% from 2006. Dry
whey was 584 million lbs, up 17%; 34%
W.P.C. was 206 million lbs, up 42%; and
80% W.P.C. was 31 million lbs, up 23%.
Prices for all types of cheese continued to advance last week. Cheddar barrels traded at the Chicago Mercantile
exchange were up 7c a lb for the week.
Cash prices for other types of cheese
gained 2½@3½c a lb across the country.
Supplies of American cheese were somewhat tight, while mozzarella stocks were
adequate. Ample milk supplies resulted
in seasonally strong cheese production.
Cheese and curd exports in 2007 totaled
219 million lbs, up 40% from 2006, the
U.S.D.A. said. Cheddar exports, at 34.5
million lbs, were up 210% for the year.
Cash butter prices remained under
pressure due to seasonally heavy churning. Excess production was moving to
inventory. Demand for Easter/Passover
was good and most orders were filled.
Butter and milkfat exports totaled 89.5
million lbs in 2007, about four times the
previous year's total, the U.S.D.A. said. MBN

Cheddar barrels

Whey powder

$ per lb, C.M.E.

f.o.b. plant, $ per lb

Dry products
f.o.b. plant, $ per lb
Feb. 22
Whey powder
.22 @ .27
Lactose
.17 @ .37
Whey protein concentrate,
(34% edible)
1.13 @ 1.18
(80% edible)
3.20 @ 3.40
Whey protein isolate
(90% edible)
4.10 @ 4.30
Nonfat dry milk high-heat
Central/East
1.43 @ 1.58
West
1.30 @ 1.55
Nonfat dry milk medium-low heat
Central/East
1.35 @ 1.45
West
1.20 @ 1.35
Nonfat dry milk
C.M.E.
1.40
Buttermilk powder 1.23 @ 1.43
Casein - acid
5.50 @ 6.40
Casein - rennet
5.70 @ 6.05
Caseinate
(f.o.b. ports)
6.75 @ 6.95

- Change from -
Feb. 15 Feb. 8
-2c
-3c
-
-

Year
ago
.68
.48

-2c
-

-2c
-20c

1.19
1.90

-

-20c

2.80

-2c
-10c

-7c
-15c

1.14
1.13

-
-

-5c
-10c

1.15
1.10

...
-2c
-
-

...
-7c
-
-

...
1.38
3.25
3.15

-

-

4.00

Cheese
$ per lb, Central

- Change from -
Feb. 15 Feb. 8
+7c +12½c
+5½c
+13c
+2¾c +12¼c
+3½c
+13c
+2½c
+5¼c

Year
ago
1.33½
...
1.96¼
1.95¼
1.67¾

Feb. 22
1.18½

- Change from -
Feb. 15 Feb. 8
-1¾c
-3½c

Year
ago
1.21

Feb. 22
C.M.E. class III milk
15.20
C.M.E. class IV milk
17.04

- Change from -
Feb. 15 Feb. 8
...
...
...
...

Year
ago
...
...

Feb. 22
C.M.E. cheddar barrels 2.02
C.M.E. cheddar blocks 2.06
Cheddar (Blocks 40#) 2.46¼
Mozzarella
2.53¼
American 5# loaf
2.34¾

Butter
$ per lb
C.M.E. 93AA

Fluid products
$ per cwt

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

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Milling & Baking News - February 26, 2008

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