U.S. dairy exports set new records in 2022

Published Feb 10, 2023

Tridge summary

U.S. dairy exports experienced a significant growth in 2022, with a 21% increase in December leading to a total value of over $9.6 billion, a 25% increase from the previous year. Despite this, nonfat dry milk/skim milk powder exports saw a decrease due to production and supply limitations. The year also saw record highs in cheese exports and the percentage of U.S. milk production exported overseas. However, the industry faces challenges such as increased competition and questions about Chinese demand in 2023. The National Milk Producers Federation also noted the positive trade balance for a third consecutive month in December, despite trade deficits in eight months throughout the year.

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

Original content

U.S. dairy exports finished what was an already stellar year with gusto, according to a monthly market update from the U.S. Dairy Export Council (USDEC). Based on December and annual data summarized in the most recent U.S. Dairy Exporter Blog: Value basis: Year-over-year exports grew 21% in December (+$128 million), putting total 2022 value at over $9.6 billion, up 25% (+$1.9 billion). Volume basis: Compared to December 2021, most all major export products grew in December 2022, with cheese up 16%, nonfat dry milk/skim milk powder up 8%, whey products up a combined 20% and lactose up 30%. Of the major products, only butterfat and fluid milk/cream were down, about 4% each. Total annual volume topped 2.57 million metric tons (MT), up nearly 6% from a year earlier. Milk solids basis: December exports on a milk solids equivalent basis were up nearly 16%, pushing year-to-date exports to 2.4 million MT, up 5% from 2021. Export volume was equivalent to about 18% of U.S. milk produced ...

Source: Progressivedairy