U.S. Dairy Exports Update – Jul ’20
Executive Summary U.S. dairy export figures provided by the USDA were recently updated with values spanning through May ’20. Highlights from the updated report include:
- U.S. butterfat export volumes finished 6.9% lower on a YOY basis, reaching a three year low seasonal level, however U.S. cheese export volumes increased 7.9% on a YOY basis throughout the month, reaching a record high seasonal level.
- U.S. dry whey export volumes increased 26.4% on a YOY basis during May ’20, finishing higher for the fourth consecutive month, while whey protein concentrate export volumes increased 5.6% YOY, finishing higher for the seventh time in the past eight months. U.S. nonfat dry milk/skim milk powder export volumes increased to a new record high monthly level, finishing 24.6% higher on a YOY basis.
- Net dairy trade on a percentage of total U.S. milk-solids production basis increased on a YOY basis for the seventh consecutive month during May ’20, finishing up 31.2%. The May ’20 YOY increase in net dairy trade was the largest experienced throughout the past two years.