October 13, 2023: Exports Remain Challenged

While dairy prices are slowly moderating higher from the very low levels we witnessed this summer, a cooling demand for dairy globally continues to burden the marketplace. Much of this is due to worldwide inflation and uncertainty in countries traditionally importing a lot of dairy. The pandemic hit China harder than other regions of the world, and it still hasn’t fully returned to the global market. China is also continuing to see a growing domestic supply of dairy, which is also lowering its need to import dairy. At the same time, inflation hit developing countries harder than in the U.S. and more developed countries, limiting their ability to purchase dairy proteins now, compared with in the past.

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