Value of U.S. Dairy Exports Reach Five-Year High
The value of U.S. dairy exports sold January through August reached $3.92 billion, which is up 3% from the same period a year ago and the highest level in five years, reports the U.S. Dairy Export Council (USDEC). The gains were led by rebounding world prices for dairy commodities and ingredients.
The one downside: August export volumes lagged year-ago levels in most categories. By category:
Non-fat dry milk/skim milk powder (NFD/SMP). Volumes were down 18% from a year ago, with sales to Mexico off 23%. Shipments to the Philippines were down 62% and to China, down 91%.
Cheese: Cheese sales overall were down 6% from a year ago, though sales to Southeast Asia more than doubled (up 127%). Sales to Australia were off 46%, to Japan, 42%, and South Korea, 12%. Total whey exports were also down 21% from a year ago.
Whole milk powder. Whole milk powder exports were more than double a year ago, and the second highest monthly August total over the last nine years, reports USDEC. But volumes are low, with just 6,216 metric tons moving off-shore. (Note: NFD/SMP sales were nearly 51,000 metric tons in August.)
USDEC reports that on a total solids basis, U.S. exports were equivalent to 14.1% of milk production through the first eight months of the year.
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