USDEC analysts are watching headwinds on the horizon for 2023.
Original content
U.S. dairy exports finished what was an already stellar year with gusto, according to a monthly market update from the U.S. Dairy Export Council (USDEC). Based on December and annual data summarized in the most recent U.S. Dairy Exporter Blog: Value basis: Year-over-year exports grew 21% in December (+$128 million), putting total 2022 value at over $9.6 billion, up 25% (+$1.9 billion). Volume basis: Compared to December 2021, most all major export products grew in December 2022, with cheese up 16%, nonfat dry milk/skim milk powder up 8%, whey products up a combined 20% and lactose up 30%. Of the major products, only butterfat and fluid milk/cream were down, about 4% each. Total annual volume topped 2.57 million metric tons (MT), up nearly 6% from a year earlier. Milk solids basis: December exports on a milk solids equivalent basis were up nearly 16%, pushing year-to-date exports to 2.4 million MT, up 5% from 2021. Export volume was equivalent to about 18% of U.S. milk produced ...
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