July 12, 2023: Dairy Week In Review

US dairy exports fell 13 percent year-over-year in May, with oversea shipments at the equivalent of 29,295 metric tons of milk solids. Nearly all products fell below prior-year levels. Cheese exports fell 18 percent, with US prices struggling to compete with global dairy prices right now. It was the largest year-to-year volume decline since 2015. However, cheese exports to Mexico were up 21  percent in May. Nonfat dry milk and skim milk powder exports were down 3 percent. Year to date, total exports are down 4 percent in volume and down 7 percent in value. Almost every major category is down in volume year to date, with butterfat and whole milk powder showing the greatest declines, at –40 and –38 percent. Cheese exports are down 4 percent year to date, while dry  whey products are down 10 percent. Skim milk and nonfat dry milk powders are down 2 percent. Read More