MD_DA640

     Nonfat Dry Milk - Western U.S.

     Report 11 - Released on March 12, 2020

     The western low/medium heat nonfat dry milk market has weakened as reflected by decreasing
     price trends at both the bottom of the range and the bottom of the mostly series. A few
     sellers report that spot trading has declined within the U.S. Export sales to China are
     active, but Mexican buyers are gauging the market and postponing any unnecessary purchase in
     the hope that future prices will be lower. According to market participants, there were no
     shipment disruptions this week. However, on top of the coronavirus induced uncertainty, the
     high value of the dollar is making low/medium heat a little less appealing to international
     buyers. Production is ongoing. Stocks are balanced to building up. High heat nonfat dry milk
     demands for spring baking have augmented. Supplies are low, whereas sales are trending up.
     Prices are mixed. Production is irregular.
     Prices for: Western U.S., All First Sales, F.O.B., Extra Grade & Grade A, Conventional, and
     Edible Nonfat Dry Milk
     Price Range - Low & Medium Heat; $/LB:                 1.0500 - 1.2200
     Mostly Range - Low & Medium Heat; $/LB:                1.1000 - 1.1600


     Prices for: Western U.S., All First Sales, F.O.B., Extra Grade & Grade A, Conventional, and
     Edible Nonfat Dry Milk
     Price Range - High Heat; $/LB:                         1.2200 - 1.3500


     Information for the period March 9 - 13, 2020, issued weekly

     Secondary Sourced Information:

     WEEKLY:  CME Close
     Grade A nonfat dry milk price at the CME Group on Wednesday closed at $1.0675, down from
     last week's average price of $1.1250.

     U.S. NDM Exports, H.S. Code 0402100000(FAS)
                      2020 Exports      % Change From
                      (Million Lb.)       1 Year Ago

     JANUARY Total        153.3              + 41

     TOTAL, JAN           153.3              + 41
      1 Mexico             56.1              - 10
      2 Philippines        23.7              + 58
      3 Indonesia          18.3              +230
      4 Vietnam            10.8              +183
      5 Colombia            5.2              + 11

     Published by:
     Dairy Market News - Madison, WI
     FLORENCE KONE-GONZALEZ, (608)422-8594
     Email: florence.konegonzalez@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