US: Dairy exports slip in March despite another cheese run

Despite climbing U.S. cheese shipments in March, U.S. dairy exports fell into the red with a 7% slip from a strong year-over-year performance in February. Here’s Progressive Dairy’s 30,000-foot view at dairy-related export categories. Mexico proves to be reliable cheese customer March’s U.S. dairy export performance could not keep up with the strong markets of February, falling 7% compared to March 2023. Additionally, total milk solids equivalent exports were down 3.1% in the first quarter of 2024 for a grim 10% decline in U.S. export value compared to the year prior at just over $2 billion. However, much like February, cheese sales surged. U.S. cheese shipments jumped 20% in March to 50,222 metric tons of product, becoming the first time product export volume surpassed 50,000 metric tons in a single month. Mexico continues to demand cheese product with shipments up 8%, adding to an unheard of 33-month streak of year-over-year gains for exports to that country. As noted in the ...