Foreign demand for U.S. replacement heifers is spreading.
Original content
April 2023 U.S. trade data showed dairy product export sales weakened substantially. At the same time, demand for dairy replacement heifers is much stronger as countries seek to rebuild herds following foot-and-mouth disease (FMD) outbreaks. Here’s a look at Progressive Dairy’s monthly ag trade summary. Dairy products While dairy product export performance was expected to weaken in April, the scale of the pullback and the variety of products impacted was a surprise, according to a monthly market update from the U.S. Dairy Export Council (USDEC). On a milk solids equivalent (MSE), April 2023 dairy product exports had their worst year-over-year decline in four years. Market softness impacted almost all the major product categories, especially cheese, with only high-quality whey protein concentrate posting a small increase. The 13% drop in April shipments pulled year-to-date export performance down to -0.3% MSE. With prices lower, export value took an even greater hit, falling 17% ...
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