U.S. Dairy Exports Update – May ’18
Executive Summary U.S. dairy export figures provided by USDA were recently updated with values spanning through Mar ’18. Highlights from the updated report include:
- U.S. butterfat export volumes increased 148.3% YOY, finishing higher for the 11th time in the past 12 months. U.S. butterfat export volumes reached a four year seasonal high for the month of March, exceeding import volumes for just the third time in the past three years.
- U.S. cheese export volumes increased on a YOY basis for the 17th time in the past 18 months, finishing up 8.7%, while U.S. dry whey export volumes increased 26.0% YOY, finishing higher for the 19th time in the past 21 months. U.S. whey protein concentrate export volumes increased 47.2% YOY, reached a new monthly record high, while nonfat dry milk/skim milk powder export volumes increased 37.2% YOY, finishing at a record seasonal high for the month of March.
- Net dairy trade on a percentage of total U.S. milk-solids production basis finished higher YOY for the fifth consecutive month, increasing by 36.2%. Export volumes on a percentage of milk-solids production basis reached a three and a half year high throughout the month while import volumes on a percentage of milk-solids production basis reached a three and a half year low.