MD_DA530

     Dry Whey - Central U.S.

     Report 14 - Released on April 08, 2021

     Central region dry whey prices moved higher on the bottom of the range and on the bottom of
     the mostly series. With the dry whey pull into Southeast Asia continuing uninterrupted, dry
     whey remains singularly tight. Even with cheese production upticks due to strength in food
     service demand, end users suggest offers have simply dissipated into thin air. Brokers and
     producers say domestic demand is present, but there are fewer and fewer loads available for
     offer. End users continue to work with what they receive and await a potential downturn.
     Animal feed whey trading, which was busy last week, slowed down this week and prices are
     unchanged. Dry whey market tones are resolutely bullish.

     The DMN monthly average of the mostly price series for Central dry whey during March was
     $.5827, compared to $.5128 in February. The monthly average of the range price series for
     Central animal feed whey during March was $.4752, compared to $.3913 in February.
     Prices for: Central U.S., All First Sales, F.O.B., Conventional, and Non-Edible Dry Whey
     Price Range - Animal Feed; $/LB:                       .5000 - .5700


     Prices for: Central U.S., All First Sales, F.O.B., Extra Grade & Grade A, Conventional, and
     Edible Dry Whey
     Price Range - Non-Hygroscopic; $/LB:                   .5700 - .6300
     Mostly Range - Non-Hygroscopic; $/LB:                  .6000 - .6200

     Information for the period April 5 - 9, 2021, issued weekly

     Secondary Sourced Information:

     The CME Group monthly average price for Extra Grade Whey during March was $.6027, compared
     to $.5426 in February.

     DAIRY PRODUCTS REPORT – WHEY SUMMARY
     Released April 1, 2021, 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
                           FEB        JAN        FEB        FEB      JAN
     Region               2020       2021       2021       2020     2021
     United States      75,006     82,888     75,943        1.2     -8.4

      Atlantic          19,902     22,100     21,229        6.7     -3.9

      Central           35,855     38,667     36,811        2.7     -4.8
       Wisconsin        23,274     27,899     27,296       17.3     -2.2

      West              19,249     22,121     17,903       -7.0    -19.1

     Dry Whey – Cumulative Production January - February
                           (1000 pounds)   Percent Change from
     Dry Whey             2020       2021       2020
     Total1            160,762    161,013        0.2
     Human2            157,666    158,831        0.7
     1. Excludes all modified dry whey products.
     2. Values calculated from Dairy Products report data.

     Manufacturers' stocks end of month3
                     End of month stocks (1000 pounds)  Percent Change from
                           FEB       JAN         FEB        FEB      JAN
     Dry Whey             2020      2021        2021       2020     2021
     Human              73,739    66,668      69,535       -5.7      4.3
     Animal                766       680         844       10.2     24.1
     Total              74,505    67,348      70,379       -5.5      4.5
     3. Stocks held by manufacturers at all points and in transit.

     Published by:
     Dairy Market News - Madison, WI
     ISRAEL WEBER, 608-422-8601
     Email: israel.weber@usda.gov

     Additional Dairy Market News Information:
     Dairy Market News (DMN) by Phone: (608)422-8602
     DMN Website: https://www.ams.usda.gov/market-news/dairy
     DMN MARS (My Market News): https://mymarketnews.ams.usda.gov