U.S. Dry Product Stocks Update – Mar ’16
Dry Whey – Stocks Finish up 32.6% YOY to a New Monthly Record High Jan ’16 month-end dry whey stocks continued to build, increasing by 14.8% MOM and 32.6% YOY, finishing at a new monthly record high. Jan ’16 dry whey stocks of 83.4 million pounds finished 2.8 million pounds, or 3.4%, above the previous monthly record high experienced in Aug ’15. The MOM increase of 10.8 million pounds, or 14.8%, was significantly larger than the ten year average December – January seasonal increase in dry whey stocks of 0.3 million pounds, or 1.8%. NFDM – Stocks Finish at the Second Largest January Stocks Level on Record Jan ’16 month-end NFDM stocks of 226.6 million pounds finished 5.7% below the previous year’s record January stocks but remained at the second largest January figure on record. Jan ’16 month-end NFDM stocks increased MOM by 22.4 million pounds, or 10.9%, which was significantly larger than the ten year average December – January seasonal increase in NFDM stocks of 2.6 million pounds, or 1.6%. The seasonally larger than average increase in stocks occurred despite NFDM production declining YOY for the fourth consecutive month in Jan ’16.