Food Business News - April 28, 2020 - 48

INGREDIENT MARKETS

Dairy Products

Dry products
f.o.b. plant, $ per lb
Apr. 24
.34 @ .39
.30 @ .40

Whey powder
Lactose
Whey protein concentrate
(34% edible)
.89 @ 1.09
Nonfat dry milk high-heat
Central/East
.95 @ 1.15
West
1.00 @ 1.15
Nonfat dry milk medium-low heat
Central/East
.85 @ .92
West
.84 @ .92
Nonfat dry milk
CME
.81
Buttermilk powder
.80 @ 1.00
Casein - acid
3.90 @ 4.09
Casein - rennet
4.20 @ 4.45
Butter
$ per lb, Central
Butter 93AA (CME)

-3c

.80

-
+2c

-
+10c

1.09
1.12

-1c
-

-2c
-1c

1.00
.98

-4½c
-7c
-
-17c

-8¾c
-15c
-
-17c

1.04
1.00
3.10
2.93

- Change from -
Apr. 17 Apr. 10
-4¼c
-10¼c

Apr. 24

- Change from -
Apr. 17 Apr. 10

1.05
1.07
1.30
1.65
1.27¾

Year
ago
.34
.26

-

Apr. 24
1.14½

Cheese
$ per lb, Central
CME cheddar barrels
CME cheddar blocks
Cheddar (Blocks 40#)
Mozzarella
American 5# loaf

- Change from -
Apr. 17 Apr. 10
-
+1c
+2c
+2c

+4½c
+5¾c
-10¼c
-10¼c
-5¼c

Year
ago
2.27

Year
ago

+5c
+1½c
-29¼c
-29¼c
-18¾c

1.63
1.68½
1.95 Nonfat dry milk high-heat Central/East
2.29¾
per lb, CME
1.84¼
$1.50

Fluid products

$1.40

$ per cwt, Central
Apr. 24
CME class III milk
CME class IV milk

Dairy products showed mixed price
changes last week, even though the
overall market remained under a bearish
cloud from the loss of a major segment of
demand - foodservice - due to closings
related to the coronavirus.
The US government announced a
$19 billion aid package for agriculture,
which included $2.9 billion in direct payments beginning by the end of May and
$100 million per month in purchases of
dairy products. It was considered only a
"first step" by the industry and was not
expected to have a major immediate impact on prices with current milk supply
exceeding demand by at least 10%.
The greatest impact remained on
butter and cheese, which depend heavily
on foodservice. Increased retail sales have
fallen short of replacing lost foodservice
sales and were beginning to slow from
the surge a few weeks back. Production
of both was active as processors sought
to use as much excess milk and cream as
possible to avoid waste. Inventories were

13.19
11.42

- Change from -
Apr. 17 Apr. 10
-22c
-

Year
ago

$1.30
$1.20

-37c
-15c

15.98
15.82 $1.10

Compiled from private sources, U.S. Department of Agriculture and
Chicago Mercantile Exchange.

$1.00
A

J

O

J

building, and storage space was limited.
CME Group butter prices fell to $1.10
a lb, an 11-year low. CME Group cheddar prices firmed but were only slightly
above multi-year lows, and wholesale
prices dropped another 10¢ a lb.
The US Department of Agriculture's
Market News did notice a glimmer of
hope in a slight week-to-week uptick in
cheese orders from foodservice in some
areas thought to be the result of increased delivery and take-out options.
Dry dairy product prices were mixed
with weakness in low/medium-heat
nonfat dry milk, the most-produced dry
product, still setting a generally bearish
tone. Nonfat dry milk production was
active, trading was slow, and inventories
were growing. Earlier buying to take
advantage of low prices has ebbed as food
manufacturers were unsure of demand for
their own products. An increase in export
interest from Asia was noted. Limited
drying time for high-heat nonfat dry milk
further tightened supplies, which were
mostly committed, and supported prices.
Dry buttermilk prices were sharply
lower on continued pressure from nonfat
dry milk. Production was limited, stocks
were tight, but demand was light. The
USDA said some condensed buttermilk
was discarded due to lack of drying space,
which was focused on nonfat dry milk.
Lactose prices were higher as domestic and export sales increased with product
being air freighted to Southeast Asia. FBN

Keep your ingredient costs in line.
With our risk management program, we've been bringing you quality
ingredients at competitive prices for over 100 years.
* AA Butter - Salted & Unsalted (Domestic & Imported)
* AMF/Butteroil (Domestic & Imported)
* Whole Milk Powder (Domestic & Imported)
* Nonfat Dry Milk
* Pasteurized Grade A Fluid Sweet Cream
* Cheeses - Cheddar, Mozzarella & Cream Cheese

48

Food Business News

Contact: Fred Smith
800-441-1001
P.O. Box 335, 1407 New Road,
Linwood, NJ 08221
Email: fsmith@clofinedairy.com
www.clofinedairy.com
April 28, 2020


http://www.clofinedairy.com

Food Business News - April 28, 2020

Table of Contents for the Digital Edition of Food Business News - April 28, 2020

Food Business News - April 28, 2020 - 1
Food Business News - April 28, 2020 - 1
Food Business News - April 28, 2020 - 2
Food Business News - April 28, 2020 - 3
Food Business News - April 28, 2020 - 4
Food Business News - April 28, 2020 - 5
Food Business News - April 28, 2020 - 6
Food Business News - April 28, 2020 - 7
Food Business News - April 28, 2020 - 8
Food Business News - April 28, 2020 - 9
Food Business News - April 28, 2020 - 10
Food Business News - April 28, 2020 - 11
Food Business News - April 28, 2020 - 12
Food Business News - April 28, 2020 - 13
Food Business News - April 28, 2020 - 14
Food Business News - April 28, 2020 - 15
Food Business News - April 28, 2020 - 16
Food Business News - April 28, 2020 - 17
Food Business News - April 28, 2020 - 18
Food Business News - April 28, 2020 - 19
Food Business News - April 28, 2020 - 20
Food Business News - April 28, 2020 - 21
Food Business News - April 28, 2020 - 22
Food Business News - April 28, 2020 - 23
Food Business News - April 28, 2020 - 24
Food Business News - April 28, 2020 - 25
Food Business News - April 28, 2020 - 26
Food Business News - April 28, 2020 - 27
Food Business News - April 28, 2020 - 28
Food Business News - April 28, 2020 - 29
Food Business News - April 28, 2020 - 30
Food Business News - April 28, 2020 - 31
Food Business News - April 28, 2020 - 32
Food Business News - April 28, 2020 - 33
Food Business News - April 28, 2020 - 34
Food Business News - April 28, 2020 - 35
Food Business News - April 28, 2020 - 36
Food Business News - April 28, 2020 - 37
Food Business News - April 28, 2020 - 38
Food Business News - April 28, 2020 - 39
Food Business News - April 28, 2020 - 40
Food Business News - April 28, 2020 - 41
Food Business News - April 28, 2020 - 42
Food Business News - April 28, 2020 - 43
Food Business News - April 28, 2020 - 44
Food Business News - April 28, 2020 - 45
Food Business News - April 28, 2020 - 46
Food Business News - April 28, 2020 - 47
Food Business News - April 28, 2020 - 48
Food Business News - April 28, 2020 - 49
Food Business News - April 28, 2020 - 50
Food Business News - April 28, 2020 - 51
Food Business News - April 28, 2020 - 52
Food Business News - April 28, 2020 - 53
Food Business News - April 28, 2020 - 54
Food Business News - April 28, 2020 - 55
Food Business News - April 28, 2020 - 56
Food Business News - April 28, 2020 - 57
Food Business News - April 28, 2020 - 58
Food Business News - April 28, 2020 - 59
Food Business News - April 28, 2020 - 60
Food Business News - April 28, 2020 - 61
Food Business News - April 28, 2020 - 62
Food Business News - April 28, 2020 - 63
Food Business News - April 28, 2020 - 64
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