U.S. Dairy Cold Storage Update – Dec ’20
Executive Summary U.S. cold storage figures provided by the USDA were recently updated with values spanning through Nov ’20. Highlights from the updated report include:
- U.S. butter stocks declined seasonally to a ten month low level throughout Nov ’20 but remained higher on a YOY basis for the 17th consecutive month, finishing up 39.4% and reaching a 27 year high seasonal level. The YOY increase in butter stocks was the largest experienced throughout the past four years on a percentage basis.
- U.S. cheese stocks rebounded contraseasonally from the previous month’s ten month low level throughout Nov ’20 while finishing 1.7% higher on a YOY basis.