MD_DA540 DA MD DA540 Dry Whey - West MADISON, WI. January 12, 2017 (REPORT 2) DRY WHEY - WEST The full western whey price range and the bottom of the mostly price series moved higher. Industry contacts describe whey stocks as tight or highly committed. Manufacturers have opted to make high end whey protein concentrations in lieu of dry whey over the last few months. As a result, dry whey production has not been able to keep pace with current demand. Western whey contacts report good demand from domestic and Mexican buyers. Some industry contacts feel market prices of whey and high end whey proteins could soon reach a tipping point when manufacturers may decide it is advantageous to make whey in lieu of higher whey proteins. NASS reports that November 2016 U.S. human whey production, 71.4 million pounds, is down 7.5% from a year ago, and down 12.6% from October 2016. The Western region produced 14.2 million pounds of edible dry whey during November, down 37.3% from last year, and down 41.3% from October. Month ending stocks for U.S. human whey, at 60.6 million pounds, are 8.2% higher than one year ago and up 1.6% from October 2016. NONHYGROSCOPIC: .4000 - .5500 MOSTLY: .4350 - .4750 U.S. Dry Whey Exports. H.S. Code 0404104000(FAS) 2016 Exports % Change From (Million Lb.) 1 Year Ago November Total 38.5 + 52 TOTAL, JAN - NOV 381.1 + 4 1 China 133.7 + 41 2 Canada 38.2 - 4 3 Mexico 35.9 - 15 4 Vietnam 28.2 + 73 5 Philippines 25.9 - 12 1100CT Mike.Bandli@ams.usda.gov (608) 557-7010 USDA/AMS/Dairy Market News, Madison, Wisconsin Dairy Market News website: http://www.ams.usda.gov/market-news/dairy Dairy Market News database portal: http://www.marketnews.usda.gov/mnp/da-home