U.S. dairy product exports ending 2022 strong

Published 2023년 1월 10일

Tridge summary

U.S. dairy exports hit a record high in November 2022, with a 23% increase in sales compared to the same month the previous year, reaching just under $800 million. This growth is expected to continue into 2023, with the total value of January-November 2022 exports reaching nearly $8.9 billion, a 25% increase from the previous year. The export of dairy heifers, however, remains challenging due to supply issues both in the U.S. and globally. Despite this, exports of dairy embryos saw a significant increase in November. The U.S. trade balance for agriculture was positive for the second consecutive month in November 2022, with a trade balance of over $1.4 billion for the month, the highest since December 2021.

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

Original content

While U.S. dairy product export reports lag the calendar change to a new year, November data showed U.S. dairy exports will certainly set another record in 2022 and are prepared to keep on growing into 2023, according to a monthly market update from the U.S. Dairy Export Council (USDEC). Based on data summarized in the most recent U.S. Dairy Exporter Blog: Value basis: At just under $800 million, November 2022 sales were up 23% (+148 million) compared to the same month a year earlier, building on what already was an annual record set in October. The value of January-November 2022 U.S. dairy exports rose 25% to almost $8.88 billion. Volume basis: At 37,495 metric tons (MT), U.S. cheese exports extended their year-over-year growth streak to 17 straight months in November, a 13% increase over the previous year and easily a record for the month. In addition to increased cheddar, Gouda and other natural cheese sales, November also benefited from the continued rebound in U.S. grated ...

Source: Progressivedairy