Thursday, March 28, 2024

US dairy exports lower for the fourth straight month

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US exports of cheese and whey products were at or near multi-year lows in August, pulling overall volumes down for the fourth straight month. Suppliers shipped 139,281 tonnes of milk powders, cheese, butterfat, whey and lactose in August, down 13% from a year ago and down 6% from July. Total overseas sales were valued at $390 million, down 33% from last year and down 6% from July. Export value was the lowest since February 2011 (on a daily-average basis).
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Cheese exports fell for the fifth straight month, dropping to 22,658t. This figure is down 28% from last year, and marks the lowest total in 31 months. Sales to every major customer were below a year ago, with a notable decline (-59%) in exports to Japan. Year-to-date exports to Japan were down 39% from last year. Shipments to South Korea have also slowed. In the May-August period, US exports to South Korea were down 37%.

With very weak global whey markets, US whey exports continued trending lower as well. Total whey export volume was just 32,843t, down 18% from last August and the second-lowest figure in the last five years (daily-average basis). Dry whey exports were off 22%; whey protein concentrate (WPC) exports were down 16% and whey protein isolate (WPI) exports were down 11% from year-ago levels. Overall whey sales to China were down 39% from last year, with dry whey exports of just 2087t, the lowest since May 2008. Meanwhile, shipments of WPI to China slowed to just 277t/month tons in the June-August period after averaging 2211t a month in the first five months of the year.

To use interactive charts with current and historical trade data, see usdec.org's page on US export data.

To download a printable pdf summary of the August trade data, click here.

  • Alan Levitt is vice-president of communications at USDEC and report on trends in global dairy markets. This requires careful analysis of many factors, such as global milk production, consumer demand, competitive dynamics, foreign trade regulations, currency exchange rates and geopolitical developments. His insight and commentary appears in USDEC’s monthly Global Dairy Outlook, as well as Export Council newsletters, industry trade publications, media presentations and seminars.
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