Tridge summary
In February, US dairy exports saw a significant recovery, ending a year-long decline with a 3.7% increase in milk solids equivalent volume, setting a new record for the month. This growth was led by a 27% increase in cheese exports, notably to Latin America, Japan, the Middle East, and China, marking only the seventh time in history volumes exceeded 40,000 tonnes. The article also highlights a surge in US cheese exports to Japan, driven by changing consumer preferences, trade agreements, and targeted efforts by US producers. Additionally, there was an uptick in skimmed milk powder exports, primarily to Southeast Asia, and notable growth in exports of WPC80+ and low-protein whey to Brazil, China, and Indonesia. This positive trend in early 2024 suggests a robust recovery for US dairy exports, buoyed by favorable pricing and rebounding demand in key markets, with broader implications for international trade relations and the dairy industries of both the US and Japan.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.
Original content
To continue reading the article, log in with your account or register with MilkPoint. Get access to exclusive content! US dairy exports made an impressive recovery in February after 12 consecutive months of year-over-year volume declines. Milk solids equivalent volume grew 3.7%, setting a new record in February. While we saw some positive signs of improving demand for U.S. dairy products late last year, February marked the first time since January 2023 that the top three U.S. products—milk powder, cheese and whey—recorded annual earnings. US cheese exports were the stars, with annual volume increasing 27% to 41,854 tonnes – just the seventh time in history that US cheese has surpassed 40,000 tonnes in a single month. On a daily basis, February was the strongest month ever for U.S. cheese exports. Latin America continued to drive sales, but US suppliers saw optimistic developments in Japan and the Middle East and continued growth in China as well. Exports of skimmed milk powder ...
Source: Milkpoint
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