Dry Whey - West
MD_DA540

     Dry Whey - Western U.S.

     Report 41 - Released on October 11, 2018

     Western dry whey prices are unchanged for the week. Manufacturers are actively making dry
     whey, in line with the seasonally strong cheese production. Inventories remain tight, but
     shoppers are finding availability is starting to improve. Demand has been strong in domestic
     and international markets. However, some industry contacts say they have seen a drop off in
     demand as buyers start to push back against higher prices. A few contacts wonder if this may
     signal a peripeteia in the whey market, or if it is simply the market taking a break.
     Prices for: Western U.S., All First Sales, F.O.B., Extra Grade & Grade A, Conventional, and
     Edible Dry Whey
     Price Range - Non-Hygroscopic; $/LB:                   .4000 - .5500
     Mostly Range - Non-Hygroscopic; $/LB:                  .4150 - .5000

     Information for the period October 8 - 12, 2018, issued weekly

     Secondary Sourced Information:

     NASS Dairy Products � Whey Summary
     Released October 4, 2018, by the National Agricultural Statistics Service (NASS),
     Agricultural Statistics Board, United States Department of Agriculture (USDA).


     Dry Whey (Human) Production � States and United States
                     Monthly Production (1000 pounds)   Percent Change from
                        August      July     August   August    July
     Region               2017      2018       2018     2017    2018
     United States      93,138    90,309     78,235    -16.0   -13.4

      Atlantic          21,244    22,253     21,829      2.8    -1.9

      Central           41,833    38,347     35,771    -14.5    -6.7
       Wisconsin        30,190    27,221     26,016    -13.8    -4.4

      West              30,061    29,709     20,635    -31.4   -30.5

     Dry Whey � Cumulative Production January - July
                     Cumulative Production    Percent Change
                         (1000 pounds)           from
     Dry Whey              2017      2018         2017
      Total1            697,171   701,380          0.6
      Human2            684,233   688,256          0.6
     1. Excludes all modified dry whey products.
     2. Values are calculated from Dairy Products report data.

     Manufacturers' stocks end of month3
                     End of month stocks (1000 pounds)  Percent Change from
                        August      July     August   August    July
     Dry Whey             2017      2018       2018     2017    2018
      Human             98,055    75,064     70,697    -27.9    -5.8
      Animal             1,456     2,385      2,278     56.5    -4.5
     Total              99,511    77,449     72,975    -26.7    -5.8
     3. Stocks held by manufacturers at all points and in transit.

     CME Close
     The Extra Grade Dry Whey price at the CME Group on Wednesday closed at $.5625, compared to
     the weekly average price of $.5590 from last week.


     U.S. Dry Whey Exports. H.S. Code 0404104000(FAS)
                      2018 Exports      % Change From
                      (Million Lb.)       1 Year Ago

     AUGUST Total             45.0           + 13

     TOTAL, JAN � AUG        345.9           + 16
      1 China                129.0           - 8
      2 Philippines           27.4           + 21
      3 Mexico                23.5           + 13
      4 Japan                 22.6           + 36
      5 Vietnam               21.7           + 289

     Published by:
     Dairy Market News - Madison, WI
     MIKE BANDLI, (608)422-8592
     Email: mike.bandli@ams.usda.gov

     Additional Dairy Market News Information:
     Dairy Market News (DMN) by Phone: (608)422-8602
     DMN Website: http://www.ams.usda.gov/market-news/dairy
     DMN Database Portal: http://www.marketnews.usda.gov/mnp/da-home