U.S. Dairy Exports Update – Jan ’21
Executive Summary U.S. dairy export figures provided by the USDA were recently updated with values spanning through Nov ’20. Highlights from the updated report include:
- U.S. butterfat export volumes declined to a five year low seasonal level, finishing 3.4% lower on a YOY basis. Net butter trade remained at a negative level for the 31st consecutive month.
- U.S. cheese export volumes declined 15.8% on a YOY basis throughout Nov ’20, remaining at a five year low seasonal level for the second consecutive month. U.S. dry whey export volumes increased 35.7% on a YOY basis throughout Nov ’20, however, reaching a three year high seasonal level, while whey protein concentrate export volumes increased 9.5% YOY throughout the month, also reaching a three year high seasonal level.
- U.S. nonfat dry milk/skim milk powder export volumes declined 7.7% on a YOY basis throughout Nov ’20 but remained at the second highest seasonal level on record.