U.S. Dairy Cold Storage Update – Jan ’21
Executive Summary U.S. cold storage figures provided by the USDA were recently updated with values spanning through Dec ’20. Highlights from the updated report include:
- U.S. butter stocks remained higher on a YOY basis for the 18th consecutive month, finishing up 44.4% and reaching a 28 year high seasonal level. The YOY increase in butter stocks was the largest experienced throughout the past four years on a percentage basis.
- U.S. cheese stocks finished 5.7% above previous year levels throughout Dec ’20, reaching a record high seasonal level. The YOY increase in cheese stocks was the largest experienced throughout the past eight months on a percentage basis.