U.S. Dairy Exports Update – Dec ’19
Executive Summary U.S. dairy export figures provided by USDA were recently updated with values spanning through Oct ’19. Highlights from the updated report include:
- Oct ’19 U.S. butterfat export volumes declined on a YOY basis for the eighth consecutive month, finishing down 62.4% to a four year seasonal low level, however Oct ’19 U.S. cheese export volumes increased 5.5% on a YOY basis throughout the month, reaching a record high seasonal level.
- Oct ’19 U.S. dry whey export volumes declined 40.1% on a YOY basis, reaching a 17 year seasonal low level, however whey protein concentrate export volumes increased 14.1% YOY, finishing higher for just the second time in the past 13 months. Oct ’19 U.S. nonfat dry milk/skim milk powder export volumes increased on a YOY basis for the second consecutive month, finishing up 16.6% and reaching the second highest seasonal level on record.
- Net dairy trade on a percentage of total U.S. milk-solids production basis declined YOY for the 12th consecutive month during Oct ’19, finishing down 1.6%. The YOY decline in net dairy trade on a percentage of milk-solids production was the smallest experienced throughout the 12 month period, however.