Abstract: The invention relates to a process for preparing a dry, powdery milk product comprising one or a number of whey products, homogenized fat and at least one caboxylic acid that is soluble in water or in a cold aqueous product, there being no fat separated from the resultant solution after a few days, by homogenizing a fat in a milk liquid, drying the resultant liquid mixture and mixing the resultant dried mixture while forming an end product, at least 25% of the protein in the end product being derived from whey and from product derived from whey, the fat content of the end product is up to 17.5% by weight and at least 0.05% by weight of lecithin, based on the end product, being added. Further, the invention is directed to a process for preparing a liquid milk product by dissolving such a dry powdery milk product in cold water or a cold aqueous product and to a process for feeding mammals with such a liquid milk product.