US: July exports climb after unassertive first half of 2024

Published 2024년 9월 11일

Tridge summary

U.S. dairy exports experienced a 9.6% year-over-year increase in July, with all categories seeing growth, particularly low protein whey which surged by 27%. There was also significant growth in high protein whey, nonfat dry milk and skim milk powder, and cheese. Sales to Southeast Asia and China were notable, with China's imports of low-protein whey increasing by 35%. Despite global headwinds, experts remain optimistic for the second half of the year. However, the trade balance deficit continued to grow, with a deficit of $4.5 billion in July and $23.338 billion fiscal year-to-date.

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

Original content

Gains made across all categories helped U.S. dairy exports post a 9.6% year-over-year rise in milk solids equivalent in July. The month’s success set the tone for an optimistic second half of the year. Here’s Progressive Dairy’s 30,000-foot view of dairy-related export categories. Dairy product exports rise in all categories Growth was seen in all U.S. dairy product export categories in July, which helped the month in a 9.6% year-over-year climb in milk solids equivalent, according to the U.S. Dairy Export Council’s monthly market update. July’s remarkable outcome is due in part to low protein whey leading with a 27% growth, marking the fourth consecutive month of growth for that product. Other categories saw respectable increases, all adding momentum to the month: high protein whey at 23%, nonfat dry milk and skim milk powder at 11% despite declines in production, and cheese at 10%. As cheese purchases from Mexico continued soaring regardless of a weaker peso, two other regions ...

Source: Progressivedairy