U.S. Dry Product Stocks Update – Dec ’16
Dry Whey – Stocks Increase on a YOY Basis for the First Time in Five Months, Finish up 6.6%
Oct ’16 month-end dry whey stocks of 60.9 million pounds rebounded by 18.2% MOM from the three and a half year low experienced during the previous month while also increasing 6.6% YOY, finishing at an eight year high for the month of October. The YOY increase in dry whey stocks was the first experienced in the past five months, driven by a significant increase in dry whey production experienced throughout the month. The MOM increase in dry whey stocks of 9.4 million pounds, or 18.2%, was a contraseasonal move when compared to the three year average September – October seasonal decline in dry whey stocks of 6.4 million pounds, or 8.9%. Oct ’16 NFDM stocks finished 8.2% above three year average figures for the month of October.
Nonfat Dry Milk – Stocks Finish at the Largest October Stocks Level on Record, up 25.2% YOY
Oct ’16 month-end nonfat dry milk (NFDM) stocks of 225.4 million pounds increased 25.2% YOY, finishing at the highest October figure on record. NFDM stocks finished higher on a YOY basis for the second consecutive month, driven higher by increased production volumes. NFDM production increased on a YOY basis for only the second time in the past 13 months during Oct ’16, finishing up 18.0%. Oct ’16 month-end NFDM stocks increased MOM by 9.1 million pounds, or 4.2%, which was a contraseasonal move when compared to the three year average September – October seasonal decline in NFDM stocks of 16.3 million pounds, or 9.5%. Oct ’16 NFDM stocks finished 41.6% above three year average figures for the month of October.
Oct ’16 month-end dry whey stocks of 60.9 million pounds rebounded by 18.2% MOM from the three and a half year low experienced during the previous month while also increasing 6.6% YOY, finishing at an eight year high for the month of October. The YOY increase in dry whey stocks was the first experienced in the past five months, driven by a significant increase in dry whey production experienced throughout the month. The MOM increase in dry whey stocks of 9.4 million pounds, or 18.2%, was a contraseasonal move when compared to the three year average September – October seasonal decline in dry whey stocks of 6.4 million pounds, or 8.9%. Oct ’16 NFDM stocks finished 8.2% above three year average figures for the month of October.
Nonfat Dry Milk – Stocks Finish at the Largest October Stocks Level on Record, up 25.2% YOY
Oct ’16 month-end nonfat dry milk (NFDM) stocks of 225.4 million pounds increased 25.2% YOY, finishing at the highest October figure on record. NFDM stocks finished higher on a YOY basis for the second consecutive month, driven higher by increased production volumes. NFDM production increased on a YOY basis for only the second time in the past 13 months during Oct ’16, finishing up 18.0%. Oct ’16 month-end NFDM stocks increased MOM by 9.1 million pounds, or 4.2%, which was a contraseasonal move when compared to the three year average September – October seasonal decline in NFDM stocks of 16.3 million pounds, or 9.5%. Oct ’16 NFDM stocks finished 41.6% above three year average figures for the month of October.