Process of making low fat low cholesterol milk products

A method for producing a low fat, low cholesterol dairy product selected from the group consisting of cottage cheese, cheddar cheese, condensed whey, yogurt and buttermilk, wherein said dairy product has a taste and mouthfeel that approximates the taste and mouthfeel of a product prepared from whole or 2% milk, comprising:

• preparing a premix by combining about 50 to about 70% non-tropical vegetable oil, about 15 to about 20% food grade gum, about 6 to about 10% of a flavoring agent and about 6 to about 10% of a non lauric emulsifier;
• adding about 1% to about 5% of said premix to about 99% to about 95% skim milk to form a mixture of said premix and said skim milk;
• pasteurizing and homogenizing said mixture;
• and
• processing said mixture to produce a low fat, low cholesterol dairy product selected from said group of dairy products.