U.S. Dry Product Stocks Update – Jul ’16
Dry Whey – Stocks Reach New Record Monthly High, Finish up 15.4% YOY
May ’16 month-end dry whey stocks of 87.1 million pounds increased on a YOY basis for the sixth consecutive month, finishing up 15.4% to a new monthly record high. Dry whey stocks finished 3.5% above the previous month’s volumes despite an 8.3% upward revision to the Apr ’16 month-end figure. Dry whey production increased on a YOY basis for the second consecutive month during May ’16, contributing to the increase in month-end stocks. May ’16 dry whey stocks finished 27.5% above three year average May figures.
NFDM – Stocks Finish at the Second Largest May Stocks Level on Record
May ’16 month-end NFDM stocks of 235.4 million pounds finished 9.9% below the previous year’s record May stocks level but remained at the second highest May figure on record. May ’16 month-end NFDM stocks declined MOM by 16.8 million pounds, or 6.6%, however, which was a contraseasonal move when compared to the ten year average April – May seasonal increase in NFDM stocks of 2.2 million pounds, or 1.2%. NFDM production declined on a YOY basis for the eighth consecutive month during May ’16, contributing to the decline in month-end stocks. May ’16 NFDM stocks finished 0.9% below three year average May figures.
May ’16 month-end dry whey stocks of 87.1 million pounds increased on a YOY basis for the sixth consecutive month, finishing up 15.4% to a new monthly record high. Dry whey stocks finished 3.5% above the previous month’s volumes despite an 8.3% upward revision to the Apr ’16 month-end figure. Dry whey production increased on a YOY basis for the second consecutive month during May ’16, contributing to the increase in month-end stocks. May ’16 dry whey stocks finished 27.5% above three year average May figures.
NFDM – Stocks Finish at the Second Largest May Stocks Level on Record
May ’16 month-end NFDM stocks of 235.4 million pounds finished 9.9% below the previous year’s record May stocks level but remained at the second highest May figure on record. May ’16 month-end NFDM stocks declined MOM by 16.8 million pounds, or 6.6%, however, which was a contraseasonal move when compared to the ten year average April – May seasonal increase in NFDM stocks of 2.2 million pounds, or 1.2%. NFDM production declined on a YOY basis for the eighth consecutive month during May ’16, contributing to the decline in month-end stocks. May ’16 NFDM stocks finished 0.9% below three year average May figures.