U.S. Dairy Cold Storage Update – Mar ’20
Executive Summary U.S. cold storage figures provided by the USDA were recently updated with values spanning through Feb ’20. Highlights from the updated report include:
- U.S. butter stocks remained higher on a YOY basis for the eighth consecutive month during Feb ’20, finishing up 24.2% and reaching a 27 year seasonal high level. The YOY increase in butter stocks was the largest experienced throughout the past three years on a percentage basis.
- Feb ’20 U.S. cheese stocks remained lower on a YOY basis for the eighth time in the past nine months, finishing down 0.5%. Cheese stocks remained 4.3% above three year average seasonal levels, however.