MD_DA751                                                         
DA                                                               
MD DA751 Casein - National                                       

MADISON, WI.  August 03, 2017 (REPORT 31)                        

CASEIN - NATIONAL   

       Casein prices are steady to lower, both acid and rennet. 
Awareness of possible higher milk production is leading to sensitivity 
to potential future price impacts. Early anecdotal reports are that 
June milk production in New Zealand is up 19 percent from June last 
year.  However, this percentage may be misleading, because June is 
often the lowest volume milk producing month each year. As a result, a 
relatively small change in absolute milk production tons in June can 
greatly magnify the percentage variation, far more than the same 
change in tons in a far higher production month. While the indicator 
of a higher June production percentage may be notable, the magnitude 
should not be over cited as a seasonal predictor. 	                                                                
       At GDT event 193 on August 1, the rennet casein all contracts 
price declined 4.4 percent and the September contract declined 5.6 
percent. Early anecdotal reports are that June milk production in New 
Zealand is up 19 percent from June last year. 

 
                                                                 
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:                         2.7000 - 2.8000                  
ACID:                           3.4000 - 3.6000                  


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