U.S. Dairy Exports Update – Aug ’18
Executive Summary U.S. dairy export figures provided by USDA were recently updated with values spanning through Jun ’18. Highlights from the updated report include:
- U.S. butterfat export volumes increased 3.4% YOY, finishing higher for the ninth consecutive month and reaching a four year seasonal high for the month of June. Butterfat import volumes exceeded export volumes for the second consecutive month during Jun ’18, however, as import volumes finished at a 14 year seasonal high.
- U.S. cheese export volumes increased on a YOY basis for the 19th time in the past 21 months, finishing up 11.8%, as strong Mexican imports more than offset a slight decline in volumes destined to all other countries. U.S. dry whey and nonfat dry milk/skim milk powder export volumes each increased on a YOY basis for the eighth consecutive month, finishing up 14.0% and 24.1%, respectively, while U.S. whey protein concentrate export volumes increased 5.3% YOY, finishing higher for the ninth consecutive month.
- Net dairy trade on a percentage of total U.S. milk-solids production basis continued to decline from the Apr ’18 record high but remained higher on a YOY basis for the eighth consecutive month, finishing up 26.2%. Export volumes on a percentage of milk-solids production basis finished at a four year seasonal high for the month of June while import volumes declined to a four year seasonal low.