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.
August 18, 2023
edairynews.com
Comments