U.S. Dairy Cold Storage Update – Aug ’19
Executive Summary U.S. cold storage figures provided by USDA were recently updated with values spanning through Jul ’19. Highlights from the updated report include:
- Jul ’19 U.S. butter stocks increased contraseasonally from the previous month, reaching a 12 month high and finishing 3.6% above previous year figures. The YOY increase in butter stocks was the first experienced throughout the past seven months.
- Jul ’19 U.S. cheese stocks declined contraseasonally for the third consecutive month while finishing 3.5% below previous year levels, declining on a YOY basis for the second consecutive month. Cheese stocks had finished higher on a YOY basis over 55 consecutive months prior to the two most recent YOY declines.