Skip to content
800-884-8290

|

Client Login

|

Open an Account
  • About Us
  • Services
    • Futures & Options Brokerage
    • Organic Grain Swaps
    • Margin Management
    • Commodity Marketing Education
    • Consulting & Insurance
  • Research
    • Dairy
    • Livestock
    • Grain & Oilseeds
    • Ethanol & Biodiesel
  • Account
  • Quotes
  • Contact Us

U.S. Dairy Dry Product Stocks Update – Feb ’20

  • February 5, 2020
  • by Belinda Przybylski
Executive Summary U.S. dairy dry product stock figures provided by USDA were recently updated with values spanning through Dec ’19. Highlights from the updated report include:
  • Dec ’19 U.S. dry whey stocks declined contraseasonally but remained 2.0% higher on a YOY basis, finishing at the third highest seasonal level on record.
  • Dec ’19 U.S. nonfat dry milk stocks increased seasonally from the previous month but remained 10.2% lower on a YOY basis, reaching a three year low seasonal level.
Additional Report Details Dry Whey – Stocks Decline Contraseasonally but Remain 2.0% Higher YOY Dec ’19 month-end dry whey stocks declined 8.4% MOM but remained 2.0% higher on a YOY basis, finishing at the third highest seasonal level on record. The YOY increase in dry whey stocks was the fourth experienced in a row. The MOM decline in dry whey stocks of 6.7 million pounds, or 8.4%, was a contraseasonal move when compared to the ten year average November – December seasonal build in dry whey stocks of 4.8 million pounds, or 10.3%. Dry whey production finished 7.1% higher on a YOY basis throughout Dec ’19, increasing for the fifth consecutive month. On a days of usage basis, Dec ’19 U.S. dry whey stocks also finished higher YOY. When assuming 12-month rolling average YOY changes in usage rates and known stock values for the month of December, dry whey stocks on a days of usage basis finished up 9.3% YOY, increasing on a YOY basis for the fourth time in the past five months. Nonfat Dry Milk – Stocks Remain Significantly Lower on a YOY Basis, Finish Down 10.2% Dec ’19 month-end nonfat dry milk (NFDM) stocks increased 11.6% MOM but remained 10.2% lower on a YOY basis, finishing at a three year seasonal low level. NFDM stocks have finished lower on a YOY basis over seven consecutive months through Dec ’19. The MOM increase in NFDM stocks of 25.8 million pounds, or 11.6%, was fairly consistent with the ten year average November – December seasonal build in NFDM stocks of 15.6 million pounds, or 11.7%. NFDM production finished 15.3% higher on a YOY basis throughout Dec ’19, increasing for the eighth consecutive month. On a days of usage basis, Dec ’19 U.S. NFDM stocks also finished lower YOY. When assuming 12-month rolling average YOY changes in usage rates and known stock values for the month of December, NFDM stocks on a days of usage basis finished down 10.7% YOY, declining on a YOY basis for the fourth consecutive month. Combined Dairy Product Stocks – Stocks Remain at a Three Year Seasonal Low, Finish Down 2.4% YOY Dec ’19 combined stocks of butter, cheese, dry whey and NFDM remained lower on a YOY basis for the third consecutive month, finishing down 2.4%. Combined dairy product stocks reached a three year seasonal low level but remained 1.6% above three year average seasonal figures.  
U.S. Dairy Product Production Update – Feb ’20
U.S. Dairy Exports Update – Feb ’20
Dairy
Ethanol
Livestock
Grain

Recent Dairy Research

  • Food Service Sales Update – Mar ’24
  • U.S. Dairy Trade Update – Sep ’23
  • Food Service Sales Update – Dec ’22
  • Global Dairy Trade Update 11-15-22
  • Dairy Products Production – Jul ’29
Atten Babler Commodities LLC
11406 US Route 20 W
Galena, IL 61036
800-884-8290
Privacy Policy
Atten Babler Commodities, a DBA of Pinion Futures LLC is a CFTC registered Introducing Broker and NFA Member (NFA #0284447) is a fully owned subsidiary of Pinion Risk Management LLC. Information contained herein is believed to be reliable, but cannot be guaranteed as to its accuracy or completeness. Past performance is no guarantee of future results or profitability. Futures and options trading involve substantial risk of loss and is not suitable for all investors. Clients may lose more than their initial investment. All information, communications, publications, and reports, including this specific material, used and distributed by PF shall be construed as a solicitation for entering into a derivatives transaction. PF does not distribute research reports, employ research analysts, or maintain a research department as defined in CFTC Regulation 1.71.


Atten Babler Insurance Services a DBA of Pinion Commodities Solutions LLC is an equal opportunity provider and employer. The U.S. Department of Agriculture (USDA) prohibits discrimination against its customers, employees, and applicants for employment on the bases of race, color, national origin, age, disability, sex, gender identity, religion, reprisal, and where applicable, political beliefs, martial status, familial or parental status, sexual orientation, or all or part of an individual's income is derived from any public assistance program, or protected genetic information in employment, or in any program or activity conducted or funded by the Department. (Not all prohibited bases will apply to all programs and/or employment activities. This publication is brought to you by Atten Babler Insurance Services and is intended for informational purposes only. Nothing contained herein can or should be interpreted to take precedence over policy language, Federal Crop Insurance Corporation/Risk Management Agency regulation, and Underwriting or Loss Adjustment rules.
© Copyright 2025 Atten Babler Commodities LLC