U.S. dairy exports maintained growth trend in October 2022
Dairy
United States
Published Dec 13, 2022
Tridge summary
Strength across all product categories supported seventh straight month of year-over-year growth.
Original content
U.S. dairy product exports stayed on a growth curve for a seventh consecutive month in October, according to a monthly market update from the U.S. Dairy Export Council (USDEC). Most product categories posted gains, including nonfat dry milk/skim milk powder (NFDM/SMP), which recorded its first year-over-year increase since November 2021. Based on data summarized in the most recent U.S. Dairy Exporter Blog: Value basis: Compared to a year earlier, the value of U.S. dairy exports rose 24% to $818.7 million in October, attributed to increased shipments of high-value cheese and butter as well as higher dairy prices in general. Through 10 months, the value of 2022 U.S. dairy exports stood at $8.08 billion, already an annual record, topping the 12-month total of $7.7 billion set in 2021. Volume basis: NFDM/SMP exports grew 11%, ending 11 straight months of year-over-year shortfalls. Fueling the gain were shipments to Mexico, up 37% and the second straight month of double-digit ...
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