
U.S. dry whey prices reached a record in October, the highest since CME trading began in 2018. Exports accounted for 68% of U.S. production in August, up from 49% a year earlier; shipments to Southeast Asia rose 94%, while exports to Canada nearly quadrupled.
Processing shifts toward higher-value whey protein concentrates also reduced dry whey available to domestic buyers.
Strong export demand and competition for dairy proteins are tightening U.S. dry whey availability and lifting prices. That can raise feed and ingredient costs for buyers using whey, though elevated prices may eventually temper demand.
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