MD_DA771

     Whey Protein Concentrate - Central and Western U.S.

     Report 23 - Released on June 06, 2019

     Whey protein concentrate 34% prices moved higher at the bottom of the range and top of the
     mostly price series. Inventories are generally tighter, and some end users say it has gotten
     more difficult to find lower priced WPC34% in the marketplace. A few feed buyers suggest
     they have had to make buys well within the range of the price series, and a few other
     contacts report infant formula sales well above published prices. WPC34% demand is steady
     and some international buyers are eager to assure coverage. Production is a bit stronger.
     The market tone for WPC34% seems to be firmer presently, however some industry contacts are
     more circumspect of their view of the WPC34% market. Current demand and prices for higher
     whey protein concentrations have fallen back quickly in the last month, and there is some
     concern those conditions could find their way back into the WPC34% market.


     DAIRY MARKET NEWS Monthly Averages
     The May 2019 Dairy Market News average of the mostly price series for Central and West whey
     protein concentrate 34% was $0.9074, compared to $0.9025 one month ago and $0.7502 one year
     ago.
     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 - 1.0750
     Mostly Range - 34% Protein; $/LB:                      .8500 - .9900

     Information for the period June 3 - 7, 2019, issued weekly

     Secondary Sourced Information:

     NASS Dairy Products Report - Whey Derivatives Summary
     Released June 4, 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
                              Apr.       Mar.       Apr.       Apr.     Mar.
     Product                  2018       2019       2019       2018     2019
     Whey Protein Concentrate, human and animal
       25.0-49.9 percent    15,321     15,177     16,500        7.7      8.7
       50.0-89.9 percent    26,566     27,592     24,913       -6.2     -9.7
     Whey protein isolates, 90.0 percent or greater
                            10,034      9,341      8,943      -10.9     -4.3

     Selected Whey Derivatives ± Cumulative Production January - April
                    Cumulative Production (1000 pounds)  Percent Change from
     Product                  2018       2019                  2018
     Whey Protein Concentrate, human and animal 1
       25.0-49.9 percent    68,328     64,660                  -5.4
       50.0-89.9 percent   109,461    101,987                  -6.8
     Whey protein isolates, 90.0 percent or greater 1
                            39,009     38,905                  -0.3
     1. Values are calculated from Dairy Products report data.

     Manufacturers' stocks end of month 2
                      End of month stocks (1000 pounds)  Percent Change from
                              Apr.       Mar.       Apr.       Apr.     Mar.
     Product                  2018       2019       2019       2018     2019
     Whey Protein Concentrate, human and animal
       25.0-49.9 percent    24,046     26,817     24,541        2.1     -8.5
       50.0-89.9 percent    51,674     35,077     34,367      -33.5     -2.0
     Whey protein isolates, 90.0 percent or greater
                            25,270     20,049     19,458      -23.0     -2.9
     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@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/