MD_DA560

     Dry Whey - Eastern U.S.

     Report 14 - Released on April 08, 2021

     In the East, dry whey prices are firm. Market participants report there are no discounts for
     dry whey anywhere in the region. Buyers� demands have been strong at this time. Moreover,
     the overall whey protein complex is displaying solidity in domestic markets. Cheese
     operations are receiving a heavy flow of milk supply for strong Class III production.
     Manufacturers� whey powder production is fairly unchanged from active drying schedules.
     Inventory levels are balanced to slightly limited in the region.

     The March 2021 Dairy Market News monthly average for Northeast dry whey was $0.5640
     compared to $0.5160 one month ago.

     Prices for: Eastern U.S., All First Sales, F.O.B., Extra Grade & Grade A, Conventional, and
     Edible Dry Whey
     Price Range - Non-Hygroscopic; $/LB:                   .5900 - .6450


     Information for the period April 5 - 9, 2021, issued weekly

     Secondary Sourced Information:

     The March 2021 NDM monthly average price, at the CME Group, is $0.6027 compared to $0.5426
     the previous month.

     DAIRY PRODUCTS REPORT � WHEY SUMMARY
     Released April 1, 2021, by the National Agricultural Statistics Service (NASS), Agricultural
     Statistics Board, United States Department of Agriculture (USDA).

     Dry Whey (Human) Production � States and United States
                     Monthly Production (1000 pounds)   Percent Change from
                           FEB        JAN        FEB        FEB      JAN
     Region               2020       2021       2021       2020     2021
     United States      75,006     82,888     75,943        1.2     -8.4

      Atlantic          19,902     22,100     21,229        6.7     -3.9

      Central           35,855     38,667     36,811        2.7     -4.8
       Wisconsin        23,274     27,899     27,296       17.3     -2.2

      West              19,249     22,121     17,903       -7.0    -19.1

     Dry Whey � Cumulative Production January - February
                           (1000 pounds)   Percent Change from
     Dry Whey             2020       2021       2020
     Total1            160,762    161,013        0.2
     Human2            157,666    158,831        0.7
     1. Excludes all modified dry whey products.
     2. Values calculated from Dairy Products report data.

     Manufacturers' stocks end of month3
                     End of month stocks (1000 pounds)  Percent Change from
                           FEB       JAN         FEB        FEB      JAN
     Dry Whey             2020      2021        2021       2020     2021
     Human              73,739    66,668      69,535       -5.7      4.3
     Animal                766       680         844       10.2     24.1
     Total              74,505    67,348      70,379       -5.5      4.5
     3. Stocks held by manufacturers at all points and in transit.

     Published by:
     Dairy Market News - Madison, WI
     JESSICA MUELLER, 608-422-8589
     Email: jessica.mueller@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