Dry Whey Futures Settle Higher
US - Dry whey futures posted multi-cent gains today on the heals of the “NASS Dairy Products Prices” report released this morning, writes Alan Levitt, on 16 March 2012.
19 March 2012
1 minute read
The NASS dry whey price for the week ending Mar. 10 is 61.93¢, up 1.28¢ vs. the past week. This report, in tandem with yesterday’s Dairy Market News(DMN) report which showed the Central dry whey mostly range from 60.5¢ to 64.0¢ and the West dry whey mostly range from 50.0¢ to 61.0¢, helped drive dry whey futures higher today.
According to USDA’s latest “Dairy Products Summary,” there are 18 dry whey plants in the Central region, six in the Atlantic (East) and seven in the West. The Central region accounts for almost 50 per cent of total US whey production while the West’s share is slightly higher than 25 per cent.
As a result, the NASS dry whey price is influenced more by prices from the Central region than from the West. CME spot Cheddar block and barrel cheese prices closed unchanged at $1.5825/lb. in today’s quiet trading session which there were no bids, offers or trades.
The CME spot butter market also settled unchanged at $1.5150/lb. after a single trade. NASS cheese and whey prices released today for the week ending Mar. 10, were higher while NASS butter and NDM prices were lower vs. the prior week. NASS prices: cheddar blocks $1.4926 (+0.53¢); barrels $1.5146 (+0.81¢); butter $1.4150 (-0.84¢); nonfat dry milk $1.3410 (-2.32¢); dry whey $0.6193. (+1.28¢).
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