U.S. exports for 9 months of the year increased in all major categories of dairy products – Agroexport

Источник: The DairyNews
U.S. exports for 9 months of the year increased in all major categories of dairy products. According to FreshAgenda estimates, in November the US dairy market was in conditions of low demand, as evidenced by weak September exports and declining domestic demand. Dry food and cheese markets are particularly susceptible to bearish pressure. This is stated in the review "World Market: Dairy products", prepared by Federal state budgetary institution Agroexport, writes The DairyNews.

The exception is highly concentrated whey products. Having met a slowdown in demand, the prices of CME futures for skimmed milk powder indicated a decline, butter futures also stopped growth.

The only exchange-traded product, the production of which increased in 9 months of 2021 in the USA, was cheese (+3%). The demand for cheese lags behind the production rates, which increased mainly due to the high demand for the obtained by-products (whey, whey protein concentrate, whey protein isolate). Cheese balances at the end of September were the highest in 5 years, +8% by 2020. Limited demand and high balances stop the increase in its production.

Stocks of whey powder in January - September were extremely small, thanks to growing exports, at the end of the period - 19% lower than last year.

The volume of production of skimmed milk powder and butter in the USA for the 3rd quarter this year decreased by 2%. The growth of skimmed milk powder exports (+13%) mitigated the effect of a drop in domestic consumption (-35% in September to September 2020).

According to the results of the three quarters of the year, the export of skimmed milk powder from the USA to Mexico increased by 23%, 2.4 times to China, 1.5 times to Vietnam.

Unlike the countries of Oceania and the European Union, the United States managed to increase butter exports (2.3 times) in 9 months of 2021, which was facilitated by the low level of export prices in comparison with other world trade centers.

Butter consumption in the US has increased by 2% since the beginning of the year. A fairly high level of balances was supported by an increase in imports (+8%).

Earlier, we reported that for 9 months of 2021, exports of EU countries decreased compared to the same period last year in most categories of dairy products, with the exception of processed milk and whey powder: -13% - skimmed milk powder, -24% - whole milk powder, -17% - butter, -1% - cheese, +5% - processed milk, +3% - whey. The reasons were both an increase in demand within the European Union (skimmed milk powder, butter) and global problems in export logistics (rising freight costs, delays in cargo handling by ports).



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