U.S. Dairy Cold Storage Update – Jul ’18
Executive Summary U.S. cold storage figures provided by USDA were recently updated with values spanning through Jun ’18. Highlights from the updated report include:
- Jun ’18 U.S. butter stocks increased on a YOY basis for the fourth consecutive month, finishing 8.5% above the previous year. Butter stocks finished at a 25 year seasonal high for the month of June.
- Jun ’18 U.S. cheese stocks increased 5.8% YOY, finishing at a new monthly record high level. Other-than-American cheese stocks increased 16.3% on a YOY basis throughout the month, more than offsetting a 0.9% YOY decline in American cheese stocks. Total cheese stocks have finished higher on a YOY basis over 44 consecutive months through June.