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Total export volume in June unfortunately trailed prior year levels by 13 percent or -28,260 metric tons on a milk-solids-equivalent basis. Value continued to be hampered by reduced prices, resulting in a 28 percent decrease for the month. A significant portion of the total export decline can be traced to weak purchases from China, dampening reduced-protein whey exports, as well as reduced European prices undercutting U.S. cheese exports – resulting in a 19 percent decline for the month of June.

Positively, though, June’s cheese exports did rebound compared to May. Whey-protein-concentrate-80+ volumes continued to impress. And Mexico’s demand is still surging, which has helped exports of nonfat-dry-milk and skim-milk powder hold steady.

The mixed performance in June mirrored the first-half results. Through June, U.S. export volume decreased 5 percent and value declined 10 percent, driven by declines in reduced-protein whey and cheese – even as nonfat-dry-milk and skim-milk powder held steady, lactose moved and whey-protein-concentrate-80+ volumes rebounded sharply.

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Published by: Cloe Desirée Juarez

August 18, 2023

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