US: December concludes year of limited dairy export growth in 2023

Published 2024년 2월 12일

Tridge summary

U.S. agricultural export data for December 2023 reveals a mixed picture. Despite a 16% decrease in the value of dairy exports, finishing at $8.11 billion, replacement heifer exports ended the year at the second-highest total since 2018. Cheese exports and nonfat dry milk/skim milk powder saw a modest increase of 1%. However, alfalfa hay exports fell to a nine-year low, largely due to reduced sales to China, and other hay exports also declined. The U.S. ended 2023 with a record-high agricultural trade deficit of $20 billion.

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

Original content

December 2023 U.S. agricultural export numbers revealed that despite limited growth in the dairy products sector, replacement heifer exports finished the year at the second-highest total since 2018. Here’s Progressive Dairy’s 30,000-foot view at dairy-related export categories. Dairy product export growth limited Full-year export volume gains in high-protein whey and lactose, up 18% and 5%, respectively, were not enough to offset declines in other categories. The value of U.S. dairy exports finished the year at $8.11 billion. While the second-largest value in history, it is down 16% from 2022’s record year, according to the U.S. Dairy Export Council’s monthly market update. Trends impacting U.S. dairy exports did not waiver in the year’s end. Elevated inflation, sluggish demand with economic conditions in crucial export markets (China), increased milk output from competing suppliers (the European Union and New Zealand), along with domestic U.S. dairy product prices that were ...

Source: Progressivedairy