U.S. Dairy Cold Storage Update – Jul ’20
Executive Summary U.S. cold storage figures provided by the USDA were recently updated with values spanning through Jun ’20. Highlights from the updated report include:
- U.S. butter stocks declined seasonally from the 26 year high level experienced throughout the previous month but remained higher on a YOY basis for the 12th consecutive month during Jun ’20, finishing up 10.8% and reaching a 27 year high seasonal level for the month of June.
- Jun ’20 U.S. cheese stocks declined contraseasonally for the second consecutive month but remained 2.6% higher on a YOY basis, reaching a record high seasonal level.