U.S. Dairy Exports Update – Aug ’20
Executive Summary U.S. dairy export figures provided by the USDA were recently updated with values spanning through Jun ’20. Highlights from the updated report include:
- U.S. butterfat export volumes finished 9.6% higher on a YOY basis throughout Jun ’20, reaching a 16 month high level, however net butter trade reached an 18 year low level as imports continued to exceed export volumes.
- U.S. cheese export volumes increased 29.0% on a YOY basis throughout Jun ’20, reaching a record high level. Cheddar cheese export volumes remained lower on a YOY basis for the sixth time in the past seven months, however, declining by 5.6%. U.S. dry whey export volumes increased 42.4% on a YOY basis during Jun ’20, reaching a 22 month high level, however whey protein concentrate export volumes declined 19.6% YOY throughout the month.
- U.S. nonfat dry milk/skim milk powder export volumes declined slightly from the record high level experienced throughout the previous month but remained higher on a YOY basis for the fourth consecutive month, finishing up 77.3% and reaching a record high seasonal level for the month of June.