Lower dairy product prices and a higher proportion of lower-valued products pulled down the average unit value of exported products.
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After a surprisingly strong January, U.S. dairy exports came back down to earth in February, according to a monthly market update from the U.S. Dairy Export Council (USDEC). Based on February data summarized in the most recent U.S. Dairy Exporter Blog, U.S. export value declined from the same month a year earlier for the first time in over two years, as lower dairy product prices and a higher proportion of lower-valued products pulled down the average unit value. On a milk solids basis, U.S. dairy export volume gained just 0.8%, with the increase driven almost entirely by lactose and whey protein concentrate (WPC). Export drivers, challenges In general, weaker dairy product prices will likely result in depressed export value performance relative to volume in the year ahead, especially given the challenging environment for cheese and butter exports. Strong competition from Europe and New Zealand, combined with weaker economic performance around the world, is creating a challenging ...
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