I've been making veal stock for about a year, and really enjoy the process. It generally takes me two days: the first to generate a base stock, the second to reduce it. I've noticed that when I refrigerate the product of either day overnight, a layer of particulate settles on the bottom of pot. Poured carefully through a cheesecloth, I can generally decant the dark, almost transparent liquid off the particulate.
What have I wrought? Have I just lurched my way to a low-grade consomme, or am I doing something to degrade the flavor of the stock? I assume the particles are denatured proteins, but honestly I haven't the slightest idea.