U.S. Dairy Exports Update – Nov ’20
Executive Summary U.S. dairy export figures provided by the USDA were recently updated with values spanning through Sep ’20. Highlights from the updated report include:
- U.S. butterfat export volumes finished lower on a YOY basis for the first time in the past four months throughout Sep ’20, declining by 7.3%. Net butter trade remained at a negative level for the 29th consecutive month.
- U.S. cheese export volumes increased 4.2% on a YOY basis throughout Sep ’20, reaching a record high seasonal level, as cheddar cheese export volumes increased at a 29 month high growth rate. U.S. dry whey export volumes increased 52.3% on a YOY basis during Sep ’20, reaching a seven year high seasonal level, while whey protein concentrate export volumes increased 24.5% YOY throughout the month.
- U.S. nonfat dry milk/skim milk powder export volumes declined 5.9% on a YOY basis, finishing lower for just the second time in the past 13 months.