U.S. Dairy Exports Update – Oct ’20
Executive Summary U.S. dairy export figures provided by the USDA were recently updated with values spanning through Aug ’20. Highlights from the updated report include:
- U.S. butterfat export volumes remained higher on a YOY basis for the third consecutive month throughout Aug ’20, increasing by 1.7%, however net butter trade remained at a negative level for the 28th consecutive month.
- U.S. cheese export volumes increased 16.8% on a YOY basis throughout Aug ’20, reaching a six year high seasonal level, as cheddar cheese export volumes increased at a 14 month high growth rate. U.S. dry whey export volumes increased 54.4% on a YOY basis during Aug ’20, reaching a seven year high seasonal level, while whey protein concentrate export volumes increased 11.5% YOY throughout the month.
- U.S. nonfat dry milk/skim milk powder export volumes increased 34.7% on a YOY basis, remaining at a record high seasonal level for the fourth consecutive month.