U.S. Dairy Exports Face Year-End Headwinds Despite Strong November Performance
Source: The DairyNews
U.S. Dairy Exports Face Year-End Headwinds Despite Strong November Performance, writes USDEC (U.S. Dairy Export Council).
In a noteworthy turnaround, U.S. cheese suppliers experienced a robust November, achieving a record shipment of 38,610 metric tons—a notable 4% surge compared to the previous year.
Despite this positive trend in the cheese sector and the continuous growth in high-protein whey exports (WPC80+), these gains proved insufficient to counterbalance declines across almost all other dairy product categories.
Examining the broader picture, U.S. dairy exports encountered an 8.1% year-over-year decrease in milk solids equivalent (MSE) terms for November, contributing to a 7.4% decline year-to-date (YTD).
While exports of high-value items such as cheese and whey proteins demonstrated growth, the impact of lower commodity prices resulted in a substantial 21% drop in U.S. dairy export value, amounting to $631 million in November.
Consequently, the overall export value witnessed a 16% decline YTD, totaling $7.481 billion with just one month remaining in the year.
Despite signs of improvement and a moderation in the rate of decline, U.S. dairy exports are still trailing behind the peak levels of 2022 both in terms of volume and value, posing challenges as the industry approaches the year-end.
Despite this positive trend in the cheese sector and the continuous growth in high-protein whey exports (WPC80+), these gains proved insufficient to counterbalance declines across almost all other dairy product categories.
Examining the broader picture, U.S. dairy exports encountered an 8.1% year-over-year decrease in milk solids equivalent (MSE) terms for November, contributing to a 7.4% decline year-to-date (YTD).
While exports of high-value items such as cheese and whey proteins demonstrated growth, the impact of lower commodity prices resulted in a substantial 21% drop in U.S. dairy export value, amounting to $631 million in November.
Consequently, the overall export value witnessed a 16% decline YTD, totaling $7.481 billion with just one month remaining in the year.
Despite signs of improvement and a moderation in the rate of decline, U.S. dairy exports are still trailing behind the peak levels of 2022 both in terms of volume and value, posing challenges as the industry approaches the year-end.
