MD_DA751                                                         
DA                                                               
MD DA751 Casein - National                                       

MADISON, WI.  September 01, 2016 (REPORT 35)                     

CASEIN - NATIONAL    

Rennet and acid casein prices slightly firmed at the lower end of the 
price range. Virtually all current production is already committed, 
leaving little spot market activity this week and no GDT event to 
influence markets. However, active discussions are occurring 
concerning contracts for quarters 1, 2 and occasionally 3 of 2017. 
Some sellers are not willing to commit to prices now because they 
expect price firming and are wary of committing to prices lower than 
what may become established. To the extent that quarter 1 prices are 
discussed, they are higher than current pricing. European 
manufacturers are also wary as to volumes of milk that will be 
available to manufacture casein in 2017, also contributing to caution 
in setting prices now for significant percentages of manufacturing 
capabilities. Buyers without continuing relationships with casein 
manufacturers are less able to secure 2017 commitments as of now.                                         
                                                                 
                                                                 
SPOT SALES AND UP TO 3 MONTH CONTRACTS.  PRICES ARE F.O.B.,      
U.S. WAREHOUSE FOR EDIBLE NONRESTRICTED AND VARY ACCORDING       
TO MESH SIZE AND QUALITY.                                        
                                                                 
RENNET:                         2.8950 - 2.9200                  
ACID:                           2.9150 - 2.9800                  

1100CT eric.graf@ams.usda.gov 
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