MD_DA771

     Whey Protein Concentrate - Central and Western U.S.

     Report 12 - Released on March 21, 2019

     Whey protein concentrate 34% prices are unchanged. The two-tier market continues to track
     sideways. The top of the market is well-supported by desired brands and WPC34% that meets
     infant formula requirements. Inventories in this segment are tight and demand is steady. The
     lower half of the market is more interchangeable with other protein sources. That segment
     has lackluster demand and stocks are more available. Some manufacturers have opted to make
     higher whey protein concentrations in lieu of WPC34%, but overall production remains steady.
     Prices for: Central and Western U.S., All First Sales, F.O.B., Extra Grade, Conventional,
     and Edible Whey Protein Concentrate
     Price Range - 34% Protein; $/LB:                       .7300 - 1.0600
     Mostly Range - 34% Protein; $/LB:                      .8300 - .9750


     Information for the period March 18 - 22, 2019, issued weekly

     Secondary Sourced Information:

     NASS Dairy Products Report - Whey Derivatives Summary
     Released March 14, 2019, by the National Agricultural Statistics Service (NASS),
     Agricultural Statistics Board, United States Department of Agriculture (USDA).

     Selected Whey Derivatives Production ± United States
                      Monthly Production (1000 pounds)   Percent Change from
                              Jan.       Dec.       Jan.       Jan.     Dec.
     Product                  2018       2018       2019       2018     2018
     Whey Protein Concentrate, human and animal
       25.0-49.9 percent    16,161     17,674     26,925       66.6     52.3
       50.0-89.9 percent    27,300     23,177     25,233       -7.6      8.9
     Whey protein isolates, 90.0 percent or greater
                             9,578     10,685     10,764       12.4      0.7

     Selected Whey Derivatives ± Cumulative Production January - January
                    Cumulative Production (1000 pounds)  Percent Change from
     Product                  2018       2019                  2018
     Whey Protein Concentrate, human and animal 1
       25.0-49.9 percent    16,161     26,925                  66.6
       50.0-89.9 percent    27,300     25,233                  -7.6
     Whey protein isolates, 90.0 percent or greater 1
                             9,578     10,764                  12.4
     1. Values are calculated from Dairy Products report data.

     Manufacturers' stocks end of month 2
                      End of month stocks (1000 pounds)  Percent Change from
                              Jan.       Dec.       Jan.       Jan.     Dec.
     Product                  2018       2018       2019       2018     2018
     Whey Protein Concentrate, human and animal
       25.0-49.9 percent    25,163     25,066     28,684       14.0     14.4
       50.0-89.9 percent    60,663     40,326     46,681      -23.0     15.8
     Whey protein isolates, 90.0 percent or greater
                            28,171     23,363     22,699      -19.4     -2.8
     2. Stocks held by manufacturers at all points and in transit.

     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: https://www.ams.usda.gov/market-news/dairy
     DMN MARS (My Market News): https://mymarketnews.ams.usda.gov/