U.S. Dairy Exports Update – Jul ’18
Executive Summary U.S. dairy export figures provided by USDA were recently updated with values spanning through May ’18. Highlights from the updated report include:
- U.S. butterfat export volumes increased 104.7% YOY, finishing higher for the 13th time in the past 14 months and reaching a four year seasonal high for the month of May. Butterfat import volumes exceeded export volumes for the first time in the past three months during May ’18, however, as import volumes finished at a 14 year seasonal high.
- U.S. cheese export volumes declined on a YOY basis for just the second time in the past 20 months, finishing down 15.4%, as Mexican imports of U.S. cheese were particularly weak. U.S. dry whey export volumes remained higher on a YOY basis for the 21st time in the past 23 months, finishing up 25.5% while U.S. export volumes of whey protein concentrate and nonfat dry milk/skim milk powder each finished at record seasonal highs for the month of May, finishing up 51.7% YOY and 19.0% YOY, respectively, throughout the month.
- Net dairy trade on a percentage of total U.S. milk-solids production basis declined from the monthly record high experienced during the previous month but remained higher on a YOY basis for the seventh consecutive month, finishing up 19.2%. Export volumes on a percentage of milk-solids production basis remained at a record seasonal high level however import volumes also finished higher on a YOY basis throughout the month.