U.S. Dairy Exports Update – May ’20
Executive Summary U.S. dairy export figures provided by the USDA were recently updated with values spanning through Mar ’20. Highlights from the updated report include:
- U.S. butterfat export volumes declined on a YOY basis for the 13th consecutive month during Mar ’20, finishing down 24.4% and reaching a three year seasonal low level, while U.S. cheese export volumes declined 10.3% on a YOY basis throughout the month, finishing lower for the third time in the past four months.
- U.S. dry whey export volumes increased 8.8% on a YOY basis during Mar ’20, finishing higher for the second consecutive month, however whey protein concentrate export volumes declined 2.9% YOY, finishing lower for the first time in the past six months. U.S. nonfat dry milk/skim milk powder export volumes increased on a YOY basis for the sixth time in the past seven months, finishing up 3.6% and reaching the second highest seasonal level on record.
- Net dairy trade on a percentage of total U.S. milk-solids production basis increased on a YOY basis for the fifth consecutive month during Mar ’20, finishing up 3.0%.