US: Value of dairy exports hits record in February

Published 2022년 4월 13일

Tridge summary

In February, US dairy exports experienced a 23% increase in value, reaching a record $696.8 million, despite a 1% drop in export volume. This growth was primarily driven by high international commodity prices and strong sales of higher-value products such as cheese, butter, and lactose. However, exports of milk powder and whey saw declines. The US saw record shipments of butterfat and lactose, while cheese exports to several major markets saw significant growth. Despite challenges, global demand for cheese remains strong, and US suppliers are benefiting from favorable prices and competitive pricing strategies. However, the recovery of US dairy exports to Mexico, a key market, has stalled, with overall export volume to Mexico falling by 10% while value increased by 28%. The article also discusses the potential impact of domestic milk production issues in Mexico on US dairy imports.

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

Original content

Year-over-year, the value of US dairy exports increased 23% in February, driven by high international commodity prices and strong sales of higher-value products such as cheese. With $696.8 million, US suppliers set a record in February. US export volume, however, posted its third consecutive monthly deficit. Strong US cheese, butter and lactose shipments nearly offset declines in milk powder and whey (WPI). The result: a 1% drop in US export volume (milk solids equivalent) over the previous year. US butterfat shipments rose 75% to 6,755 tonnes swt. That was the biggest month for US butterfat exports in nearly eight years, since April 2014. US lactose exports grew 15% to 28,776 tonnes swt, and cheese rose 9% to 32,953 tonnes swt. Exports of skimmed milk powder fell 11% (-8,200 tonnes) to 63,382 tonnes. Declines in the two main U.S. milk powder markets – Mexico (-5%, -1,296 tonnes swt) and Southeast Asia (-12%, -3,528 tonnes swt) – led the decline, but shipments declined for most ...

Source: Milkpoint