U.S. dairy exports increase in October for seventh consecutive month

Published 2022년 12월 15일

Tridge summary

US dairy exports have seen a consistent increase for the seventh month in a row, with October marking a 9% growth. The first 10 months of the year have also seen a 4% increase in export volume and a 24% increase in export value, reaching a record $8.08 billion. This growth is attributed to higher high-value cheese and butter exports, with notable increases in skim milk powder, whey, cheese, and butter. Exports to Mexico and Japan have seen particular growth, despite challenges such as reduced exports to China and increasing competition from Europe. The US Dairy Export Council remains optimistic for the future of these exports, citing continued investment as a key strategy to overcome the challenges ahead.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

October US dairy exports increased 9% on a milk solids equivalent basis, marking the seventh straight month of growth. Most product categories posted gains, including skim milk powder, which posted its first annual increase since November 2021. In the first 10 months of the year, US export volume increased by 4% milk solids equivalent. The value of US exports rose 24% to $818.7 million in October. The 10-month figure stood at $8.08 billion, already an annual record, beating the 12-month total of $7.70 billion set in 2021 as a result of increased high-value cheese and butter exports. , as well as higher dairy prices in general. US October gains were broadly based for most major products including skim milk powder, whey, cheese and butter. Exports of skimmed milk powder grew by 11% (+6,975 tons), ending 11 consecutive months of deficit compared to the previous year. Exports to Mexico increased by 37% - the second consecutive month of double-digit increases. US whey exports increased ...

Source: Milkpoint