U.S. Dry Product Stocks Update – Feb ’17
Dry Whey – Stocks Decline on a YOY Basis as Production Remains Weak, Finish Down 2.3%
Dec ’16 month-end dry whey stocks of 65.6 million pounds increased 8.2% MOM but finished lower on a YOY basis, declining by 2.3%. Dry whey stocks finished lower on a YOY basis despiteprevious year stock figures being revised 7.5% lower during the most recent report. Dry whey production volumes declined 13.3% YOY throughout Dec ’16, contributing to the decline in stocks. The MOM increase indry whey stocks of 5.0 million pounds, or 8.2%, was lower than the ten year average November – December seasonal increase in dry whey stocks of 5.5 million pounds, or 12.2%. Despite the lower than average seasonal increase, dry whey stocks remained 2.4% above three year average figures for the month of December.
Nonfat Dry Milk – Stocks Remain Higher on a YOY Basis, Finish up 11.8% YOY
Dec ’16 month-end nonfat dry milk (NFDM) stocks of 228.4 million pounds remained higher on a YOY basis for the fifth consecutive month, finishing 11.8% higher than the previous year. NFDM production finished higher on a YOY basis for the fourth consecutive month during Dec ’16, contributing to the increase in stocks. The MOM increase in NFDM stocks of 12.6 million pounds, or 5.8%, was significantly smaller than the ten year average November – December seasonal increase in NFDM stocks of 23.1 million pounds, or 23.5%, however. Despite the lower than normal seasonal build, Dec ’16 NFDM stocks finished 18.8% above three year average figures for the month of December.
Dec ’16 month-end dry whey stocks of 65.6 million pounds increased 8.2% MOM but finished lower on a YOY basis, declining by 2.3%. Dry whey stocks finished lower on a YOY basis despiteprevious year stock figures being revised 7.5% lower during the most recent report. Dry whey production volumes declined 13.3% YOY throughout Dec ’16, contributing to the decline in stocks. The MOM increase indry whey stocks of 5.0 million pounds, or 8.2%, was lower than the ten year average November – December seasonal increase in dry whey stocks of 5.5 million pounds, or 12.2%. Despite the lower than average seasonal increase, dry whey stocks remained 2.4% above three year average figures for the month of December.
Nonfat Dry Milk – Stocks Remain Higher on a YOY Basis, Finish up 11.8% YOY
Dec ’16 month-end nonfat dry milk (NFDM) stocks of 228.4 million pounds remained higher on a YOY basis for the fifth consecutive month, finishing 11.8% higher than the previous year. NFDM production finished higher on a YOY basis for the fourth consecutive month during Dec ’16, contributing to the increase in stocks. The MOM increase in NFDM stocks of 12.6 million pounds, or 5.8%, was significantly smaller than the ten year average November – December seasonal increase in NFDM stocks of 23.1 million pounds, or 23.5%, however. Despite the lower than normal seasonal build, Dec ’16 NFDM stocks finished 18.8% above three year average figures for the month of December.