MD_DA771

     Whey Protein Concentrate - Central and Western U.S.

     Report 49 - Released on December 06, 2018

     Whey protein concentrate 34% prices are generally steady aside from the bottom of the range
     moving slightly lower. Demand continues to be a mixed bag. Favorite brands are generating
     solid buyer interest, but WPC 34% that can easily be swapped for other protein sources is
     getting only a lukewarm reception. Overall production is steady, but some manufacturers are
     opting to maintain production flexibility to respond to price movements throughout the whey
     protein complex and to meet immediate buyer needs. Inventories remain tight, with favored
     brands in short supply and more availability for commoditized WPC34%.


     DAIRY MARKET NEWS Monthly Averages
     The November 2018 Dairy Market News average of the mostly price series for Central and West
     whey protein concentrate 34% was $0.8817, compared to $0.8658 one month ago and $0.7757 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:                       .8250 - 1.0475
     Mostly Range - 34% Protein; $/LB:                      .8375 - .9325

     Information for the period December 3 - 7, 2018, issued weekly

     Secondary Sourced Information:

     NASS Dairy Products Report - Whey Derivatives Summary
     Released December 4, 2018, 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
                             Oct.       Sep.       Oct.       Oct.     Sep.
     Product                 2017       2018       2018       2017     2018
     Whey Protein Concentrate, human and animal
       25.0-49.9 percent     15,551     15,757     16,173      4.0      2.6
       50.0-89.9 percent     25,245     26,263     24,973     -1.1     -4.9
     Whey protein isolates, 90.0 percent or greater
                              9,697     10,242     10,799     11.4      5.4

     Selected Whey Derivatives ± Cumulative Production January - October
                         Cumulative Production    Percent Change
                              (1000 pounds)        from
     Product                 2017       2018       2017
     Whey Protein Concentrate, human and animal 1
       25.0-49.9 percent     149,748    152,667     2.0
       50.0-89.9 percent     252,063    262,506     4.1
     Whey protein isolates, 90.0 percent or greater 1
                              98,116     97,819    -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
                             Oct.       Sep.       Oct.       Oct.     Sep.
     Product                 2017       2018       2018       2017    2018
     Whey Protein Concentrate, human and animal
       25.0-49.9 percent     23,803     17,479     19,533     -17.9   11.8
       50.0-89.9 percent     52,733     40,766     38,480     -27.0   -5.6
     Whey protein isolates, 90.0 percent or greater
                             28,585     25,915     25,096     -12.2   -3.2
     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: http://www.ams.usda.gov/market-news/dairy
     DMN Database Portal: http://www.marketnews.usda.gov/mnp/da-home