Enclosed are copies of the latest nonfat dry milk, bulk butter, Cheddar cheese and dry whey powder processing costs for the period of January through December 2006. The processing cost data does not include the cost of raw product nor does it include Any cost of marketing finished product. For each of the four manufactured products, the cost data are presented in a table that shows actual weighted-average cost of plants grouped by efficiency. Also enclosed is a summary table showing the weighted-average manufacturing cost for nonfat powder, butter and Cheddar cheese as published since February 2000. In addition, the weighted average manufacturing for whey is shown for 2004 - 2006. Cost includes packaging, processing labor, processing non-labor, general and administrative cost, return on investment and, for butter and Cheddar cheese, miscellaneous ingredients.