Dry Whey – Stocks Finish up 45.9% YOY to Record High Levels Aug ’15 month-end dry whey stocks continued to increase on a YOY basis, finishing 45.9% higher than the previous year as production continues to expand. Aug ’15 total dry whey stocks of 81.0 million lbs set a new monthly record high and finished 51.1% higher than the three year average August dry whey stocks. NFDM – Stocks Decline YOY for First Time in Nine Months, Remain High on Historical Basis Aug ’15 month-ending NFDM stocks declined 14.4% MOM from the record high experienced in Jul ’15 as powder production continued to remain below the previous year’s levels. Aug ’15 NFDM stocks also declined YOY by 2.3% which was the first YOY decline experienced in 14 months. On an absolute basis, NFDM stocks reached a nine month low, however Aug ’15 NFDM stocks remained significantly higher than the three year average August NFDM stocks, finishing up 29.2%.