Care will be exercised in using the terms "price" and "value."  The "prices" at which livestock or livestock products are sold are not necessarily their "value."  The terms are not synonymous and must not be used interchangeably.

Butter which is packaged in one-pound or smaller pieces.

Used to compute advanced prices as well as class and component prices that set the minimum price paid to milk producers in all federal milk orders.  The formulas consist of weighted average product prices, make allowances, and yield factors.  The product prices are those published in the National Dairy Products Sales Report (a mandatory survey conducted by AMS) for butter, NDM, cheese, and dry whey.

Approximately 130,000 to 160,000 pounds.

These terms may be used to indicate the actual or estimated deliveries of the particular item being reported.  "Total receipts" refer to all animals or animal products unloaded for whatever purpose.  "Receipts" indicate the number of the particular item available for sale on a particular day at each market regardless of whether it is received at the market that day.  Generally, the "receipts" include holdovers from previously counted or estimated livestock.  Acceptable terms to be used in reference to the supply/offerings are: "light," "moderate," and "heavy."

Comment used to describe mature cows or heifers that are being purchased to be placed in a cow/calf operation.

Transactions that reflect product that has been purchased and resold (can be more than once).  Trades can occur above, below, or at spot prices depending on current market conditions.  These trades are not reported in spot price ranges but may be included in comments.

Market Channel type.

A marketing channel that sells dairy products directly to the consumer for personal or household consumption.

1. An international market term often used interchangeably for NDM.

2. A term used in the United States for a dry product made from a blend of condensed skim and another condensed dairy product(s) generally for export sales.  This product does not meet USDA standards for NDM.

The solids in milk other than milkfat.  Also known as nonfat solids.