Western powder is trading for mostly $1.35-$1.41, the lowest since the same week a year ago (see chart).

The California Weighted Average Price (CWAP) for last week was $1.3337, down 6.4¢ from the prior week. Volume was 26.9 million lbs., about double the usual sales.

“[NDM] buying interest slowed as purchasers assess the impact of current market price declines,” says DMN.

“Milk suppliers are noting that cheese producers are taking fewer milk loads than forecast, creating a bigger milk supply to be balanced by butter/powder producers. Stock levels vary by producer and are moderate to heavy.”

NDM futures were mostly unchanged today. The FEB through DEC contracts are between $1.3550 and $1.3900.

The whey market remains firm, though price increases are slowing. Midwestern dry whey is mostly 69.5¢-72.5¢, unchanged from last week. Western dry whey is mostly 69.5¢-74.0¢, up fractionally. “The current price is fueling some uneasiness amongst manufacturers and brokers as to how long these prices can be sustained,” DMN says.

“As some end-users reassess dry whey inventories, a few dry whey contract loads were pushed back and reoffered to the industry.” Whey futures declined today, with APR falling below 60¢ and JUL dropping below 50¢.