U.S. Dairy Cold Storage Update – Dec ’19
Executive Summary U.S. cold storage figures provided by USDA were recently updated with values spanning through Nov ’19. Highlights from the updated report include:
- Nov ’19 U.S. butter stocks declined seasonally to an 11 month low level but remained higher on a YOY basis for the fifth consecutive month, finishing up 17.1% and reaching a 26 year seasonal high level.
- Nov ’19 U.S. cheese stocks declined to a 21 month low level, finishing 2.1% lower on a YOY basis. Cheese stocks remained 4.7% above three year average seasonal levels, however.