U.S. Dairy Exports Update – Sep ’19
Executive Summary U.S. dairy export figures provided by USDA were recently updated with values spanning through Jul ’19. Highlights from the updated report include:
- Jul ’19 U.S. butterfat export volumes declined on a YOY basis for the fifth consecutive month, finishing down 68.9% to a ten year seasonal low level, however Jul ’19 U.S. cheese export volumes increased 0.7% on a YOY basis throughout the month, reaching a five year seasonal high level.
- Jul ’19 U.S. dry whey and whey protein concentrate export volumes finished lower on a YOY basis on weak Chinese demand, declining by 27.9% and 3.0%, respectively. U.S. whey export volumes destined to China declining by 40.2% on a YOY basis throughout Jul ’19, more than offsetting a 7.7% YOY increase in whey export volumes destined to all other countries. Jul ’19 U.S. nonfat dry milk/skim milk powder export volumes declined on a YOY basis for the ninth consecutive month, finishing down 9.0%.
- Net dairy trade on a percentage of total U.S. milk-solids production basis declined YOY for the ninth consecutive month during Jul ’19, finishing down 19.7%. Export volumes on a percentage of milk-solids production basis remained lower on a YOY basis for the ninth consecutive month, finishing down 10.0%, while import volumes remained higher on a percentage of milk-solids production basis for the tenth consecutive month, finishing up 21.9%.