Milling & Baking News - July 1, 2008 - 37

Ingredient Week

Dairy Products

Dry dairy product prices were steady
to lower last week. Cheese prices were
mostly lower and butter prices were
higher. Milk supplies showed signs of
dropping seasonally in the East and West,
while Central production held strong.
Prices of nonfat dry milk were steady to
3c a lb lower with buyer resistance at the
top end of the price range noted by the
U.S. Department of Agriculture. Stocks of
low-heat and medium-heat N.D.M. were
balanced to growing, while supplies of
high-heat N.D.M. were tight to short as
dryers focused on other classes.
Dry whey prices eased 1c in the Central region, held steady in the West and
were firm in the East. Supplies were adequate and production remained strong.
Demand eased in the Central and West.
Prices of 34% whey protein concentrate were 3c a lb lower. Production was
steady but producer inventories were
building. Users anticipated additional
weakness and were in no hurry to buy.
Prices of buttermilk powder and lactose were unchanged with increased offers hinting at weakness, except in the

Dry products

West, where prices held firm due to tight
supplies. Production of dry buttermilk
decreased in most areas as the volume of
butter churned declined.
Prices of wholesale cheese as well as
cheddar blocks and barrels traded at the
Chicago Mercantile Exchange mostly declined as heavy production that prompted increased offers met with continued
weak domestic and export demand. Inventories were building.
Butter prices advanced with values at
a one-year high. Churning decreased as
cream supplies tightened due to strong
demand from ice cream manufacturers.
Butter demand remained strong, and
inventories were declining. Commercial
disappearance of butter in January-April
totaled 525.8 million lbs, up 22% from
the same span last year on a daily average basis, the U.S.D.A. said.
Stocks of butter in storage on May 31
totaled 263,041,000 lbs, up 5% from April
but 3% below May 31, 2007, the U.S.D.A.
said in its latest Cold Storage report. Total cheese stocks were 887,469,000 lbs, up
4% from April but 1% less than the yearago supply. MBN

f.o.b. plant, $ per lb

- Change from - Year
June 27
June 20 June 13 ago
Whey powder
.24 @ .29
-1c
-1c
.70
Lactose
.23 @ .33
-
-
.86
Whey protein concentrate,
(34% edible)
.87 @ .97
-3c
-3c
1.61
(80% edible)
2.65 @ 2.85
-
-
3.40
Whey protein isolate
(90% edible)
4.50 @ 5
-
-
4.30
Nonfat dry milk high-heat
Central/East
1.40 @ 1.60
-3c
-1c
1.95
West
1.40 @ 1.55
-
-
1.94
Nonfat dry milk medium-low heat
Central/East
1.45 @ 1.50
-
-
1.95
West
1.38 @ 1.48
-
-
1.91
Nonfat dry milk
C.M.E.
1.36
-
-1 ¾c ...
Buttermilk powder 1.35 @ 1.44
-
-
2.07
Casein - acid
5.50 @ 6.10
-
-
4.10
Casein - rennet
5.70 @ 6.05
-
-
3.70
Caseinate
(f.o.b. ports)
5.75 @ 5.95
-
-20c
6.15

Cheese
$ per lb, Central
June 27
C.M.E. cheddar barrels 1.96
C.M.E. cheddar blocks 1.92
Cheddar (Blocks 40#) 2.46¾
Mozzarella
2.53
American 5# loaf
2.47

Cheddar barrels

Whey powder

Butter

$ per lb, C.M.E.

f.o.b. plant, $ per lb

- Change from - Year
June 20 June 13
ago
+1c
-19c
1.95
-4c
-12c
...
-3c
-9½c
2.31
-3c
-9½c
2.35¾
-8c
-9¼c
2.32¼

$ per lb, Central
June 27
1.54½

- Change from -
June 20 June 13
+4½c
+6¾c

Year
ago
1.49

June 27
C.M.E. class III milk
20.27
C.M.E. class IV milk
16.35

- Change from -
June 20 June 13
+7c
+7c
-
-

Year
ago
...
...

C.M.E. 93AA

Fluid products
$ per lb, Central

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

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Milling & Baking News - July 1, 2008

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