MD_DA771

     Whey Protein Concentrate - Central and Western U.S.

     Report 28 - Released on July 11, 2019

     Whey protein concentrate 34% prices are largely steady, but moved down slightly at the
     bottom of the mostly price series. Some buyers note a few more offerings of NDM are
     available and these may start to pressure some WPC34% prices. Industry contacts are also
     closely watching the markets for higher whey proteins for any conditions that may creep into
     WPC34% markets. So far, any impacts have been minimal. Inventories, especially for favored
     brands, remain relatively tight. Manufacturers say regular contracts have cleaned up most of
     their production. Spot market activity is a little slow, but production is steady and
     industry contacts suggest supply and demand are in good balance.
     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:                       .8000 - 1.0950
     Mostly Range - 34% Protein; $/LB:                      .8450 - 1.0000

     Information for the period July 8 - 12, 2019, issued weekly

     Secondary Sourced Information:

     Dairy Products Report ± Whey Derivatives Summary
     Released July 3, 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
                              May        Apr.       May        May      Apr.
     Product                  2018       2019       2019       2018     2019
     Whey Protein Concentrate, human and animal
       25.0-49.9 percent    15,295     15,949     14,814       -3.1     -7.1
       50.0-89.9 percent    27,129     24,780     26,418       -2.6      6.6
     Whey protein isolates, 90.0 percent or greater
                             9,452      9,460     10,368        9.7      9.6

     Selected Whey Derivatives ± Cumulative Production January - May
                    Cumulative Production (1000 pounds)  Percent Change from
     Product                  2018       2019                  2018
     Whey Protein Concentrate, human and animal 1
       25.0-49.9 percent    83,623     78,923                  -5.6
       50.0-89.9 percent   136,590    128,272                  -6.1
     Whey protein isolates, 90.0 percent or greater 1
                            48,461     49,790                   2.7
     1. Values are calculated from Dairy Products report data.

     Manufacturers' stocks end of month 2
                      End of month stocks (1000 pounds)  Percent Change from
                              May        Apr.       May        May      Apr.
     Product                  2018       2019       2019       2018     2019
     Whey Protein Concentrate, human and animal
       25.0-49.9 percent    20,254     24,123     24,532       21.1     1.7
       50.0-89.9 percent    50,376     34,014     34,901      -30.7     2.6
     Whey protein isolates, 90.0 percent or greater
                            25,933     20,107     22,731      -12.3    13.1
     2. Stocks held by manufacturers at all points and in transit.


     U.S. WPC < 80% Exports, H.S. Code 0404100500(FAS)
                      2019 Exports      % Change From
                      (Million Lb.)       1 Year Ago

     MAY Total               25.7          - 22

     TOTAL, JAN-MAY         100.7          - 41
      1 Mexico               27.6          + 1
      2 China                22.3          - 74
      3 Canada               14.4          + 6
      4 Philippines           7.4          - 1
      5 Singapore             7.1          + 122
     Published by:
     Dairy Market News - Madison, WI
     MIKE BANDLI, (608)422-8592
     Email: mike.bandli@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