U.S. Dry Product Stocks Update – Aug ’16
Dry Whey – Stocks Decline Sharply, Remain at Second Largest June Stocks Level on Record
Jun ’16 month-end dry whey stocks of 75.0 million pounds declined sharply from the record high experienced during the previous month, finishing lower on a YOY basis for the first time in seven months. Dry whey stocks declined by 12.7 million pounds, or 14.5%, from the previous month while finishing 3.1% below the previous year’s volume. A 7.7% YOY decline in dry whey production contributed to the decline in stock volumes. Despite the sharp decline, dry whey stocks remained at the second largest stocks level on record for the month of June while finishing 7.9% above the three year average June figures.
Nonfat Dry Milk – Stocks Finish at the Second Largest June Stocks Level on Record
Jun ’16 month-end nonfat dry milk (NFDM) stocks of 237.6 million pounds finished 9.4% below the previous year’s record June stocks level but remained at the second highest June figure on record. Jun ’16 month-end NFDM stocks increased MOM by 5.4 million pounds, or 2.3%, compared to the three year average May – June seasonal increase in NFDM stocks of 2.6 million pounds, or 1.2%. NFDM production declined on a YOY basis for the ninth consecutive month during Jun ’16, contributing to the decline in month-end stocks. Jun ’16 NFDM stocks finished 1.0% below three year average June figures.
Jun ’16 month-end dry whey stocks of 75.0 million pounds declined sharply from the record high experienced during the previous month, finishing lower on a YOY basis for the first time in seven months. Dry whey stocks declined by 12.7 million pounds, or 14.5%, from the previous month while finishing 3.1% below the previous year’s volume. A 7.7% YOY decline in dry whey production contributed to the decline in stock volumes. Despite the sharp decline, dry whey stocks remained at the second largest stocks level on record for the month of June while finishing 7.9% above the three year average June figures.
Nonfat Dry Milk – Stocks Finish at the Second Largest June Stocks Level on Record
Jun ’16 month-end nonfat dry milk (NFDM) stocks of 237.6 million pounds finished 9.4% below the previous year’s record June stocks level but remained at the second highest June figure on record. Jun ’16 month-end NFDM stocks increased MOM by 5.4 million pounds, or 2.3%, compared to the three year average May – June seasonal increase in NFDM stocks of 2.6 million pounds, or 1.2%. NFDM production declined on a YOY basis for the ninth consecutive month during Jun ’16, contributing to the decline in month-end stocks. Jun ’16 NFDM stocks finished 1.0% below three year average June figures.