U.S. Dairy Exports Remain Strong, Exports to China Decline…
According to USDA, the total value of all U.S. dairy exports in April ’14 fell slightly MOM but continued the trend of strong YOY increases. The total value of all U.S. dairy exports declined 0.8% on a daily average basis, but increased 25.5% YOY. Export volumes of butterfat, cheese, and dry whey were down MOM, but increased YOY. Cheese exports experienced the largest YOY gain (18.1 million lbs), followed by butterfat (9.9 million lbs), and dry whey (6.3 million lbs). Powder exports continue to increase MOM, with exports of NFDM/SMP up 7.0 million lbs on a daily average basis, however NFDM/SMP exports declined 3.7% YOY vs. all-time record high exports of NFDM/SMP experienced in April ’13.
The value of U.S. exports to China declined 31.6% MOM in April ’14 on a daily average basis, confirming reports that China has covered short-term needs. The value of U.S. exports to China remained up 32.2% YOY, but declined 9.5% against the previous 12 month average exports to China. U.S exports to China as a percentage of total exports declined from 12.8% of total exports in March ’14, to 8.8% of total exports in April ’14. Excluding exports to China, U.S. exports increased 0.4% MOM.
April ’14 U.S. cheese exports of 74.7 million lbs were down slightly from March’s record levels, but were still the second-highest figure ever and 32.1% higher than last year. Cheese exports to South Korea, Japan, and Mexico accounted for over half of total shipments in April. Shipments to South Korea and Japan exceeding shipments to Mexico for the first time since July ’11 and November ’02, respectively.
April ’14 U.S. NFDM/SMP exports of 117.2 million lbs were the third largest monthly total ever, trailing only April- May ’13. Over two thirds of April shipments were destined to Southeast Asia and Mexico.
April ’14 U.S. butterfat exports of 154.5 million lbs slowed to the lowest level in ten months, but were still over double last year’s level. Butterfat exports were down 27.1% MOM on a daily average basis but were up 105.2% YOY. The majority of butterfat exports went to the Middle East and North Africa regions, led by Morocco for the first time in nearly four years.
According to the U.S. Dairy Export Council (USDEC), U.S. exports on a total milk solids basis were equivalent to 16.9% of U.S. milk solids production in April ’14, down from the March ’14 record high of 17.7%. Imports were equivalent to 3.0% of production. See the table below for a summary of key U.S. dairy product exports as a percentage of production in April ’14.
The value of U.S. exports to China declined 31.6% MOM in April ’14 on a daily average basis, confirming reports that China has covered short-term needs. The value of U.S. exports to China remained up 32.2% YOY, but declined 9.5% against the previous 12 month average exports to China. U.S exports to China as a percentage of total exports declined from 12.8% of total exports in March ’14, to 8.8% of total exports in April ’14. Excluding exports to China, U.S. exports increased 0.4% MOM.
April ’14 U.S. cheese exports of 74.7 million lbs were down slightly from March’s record levels, but were still the second-highest figure ever and 32.1% higher than last year. Cheese exports to South Korea, Japan, and Mexico accounted for over half of total shipments in April. Shipments to South Korea and Japan exceeding shipments to Mexico for the first time since July ’11 and November ’02, respectively.
April ’14 U.S. NFDM/SMP exports of 117.2 million lbs were the third largest monthly total ever, trailing only April- May ’13. Over two thirds of April shipments were destined to Southeast Asia and Mexico.
April ’14 U.S. butterfat exports of 154.5 million lbs slowed to the lowest level in ten months, but were still over double last year’s level. Butterfat exports were down 27.1% MOM on a daily average basis but were up 105.2% YOY. The majority of butterfat exports went to the Middle East and North Africa regions, led by Morocco for the first time in nearly four years.
According to the U.S. Dairy Export Council (USDEC), U.S. exports on a total milk solids basis were equivalent to 16.9% of U.S. milk solids production in April ’14, down from the March ’14 record high of 17.7%. Imports were equivalent to 3.0% of production. See the table below for a summary of key U.S. dairy product exports as a percentage of production in April ’14.