I've made both evaporated milk and sweetened condensed milk at home. It's not exactly the same as when it's done commercially, but pretty darn close.
Here's the method I followed. I suggest not letting it come to a simmer..it's very easy to scorch. Also, rather than pulling off the skin, I just whisked it in and strained it when finished. Seemed easier to me.
http://pioneervalleyma.blogspot.com/2011/11/diy-evaporated-milk.html
i recently made a pumpkin pie recipe from martha stewart's website, replacing evaporated milk with regular 3% milk (we don't have that magical canned stuff here where i live), and it turned out great! it was roughly 1 small can pumpkin, 3 eggs, 1 cup milk, 1T cornstarch, 3/4c sugar, etc... worked fine for me...
Another note: We've read that you can cook down 2 1/4 cups of regular milk until it yields one cup. We haven't tried this, but if you don't have access to a store, this may be your best bet!
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Here's the method I followed. I suggest not letting it come to a simmer..it's very easy to scorch. Also, rather than pulling off the skin, I just whisked it in and strained it when finished. Seemed easier to me.
http://pioneervalleyma.blogspot.com/2011/11/diy-evaporated-milk.html