When other countries do well economically, so too does the U.S. dairy industry now that 18% of the U.S. milk supply is sent overseas in the form of dairy products. In February, U.S. dairy exports bested prior-year levels for the first in a year, noted Monica Ganley, analyst with the Daily Dairy Report and principal of Quarterra, an agricultural consulting firm in Buenos Aries.
According to USDA, U.S. exporters sent 501.1 million pounds of dairy products abroad in February, up 5.5% compared to a year-earlier, after adjusting for leap day. February’s exports were the first time ever that dairy exports exceeded 500 million pounds in February, Ganley said.
“Stronger cheese shipments played a crucial role in boosting overall exports, and the insatiable appetite of Mexican buyers played a key role in the strong cheese figures,” she said. “Furthermore, lower prices at the CME late last year, when February’s exports sales were likely booked, helped to increase the competitiveness of U.S. cheese in international markets.”
By FRAN HOWARD
April 5, 2024
