U.S. dairy exports in June were up 28% by volume and 22% by value, capping a first half of double-digit growth. This year’s gains have been all the more impressive in that they were achieved during one of the most disrupted dairy trade environments in history.
In June, U.S. suppliers shipped 206,411 tons of milk powders, cheese, whey products, lactose and butterfat, the most (on a daily-average basis) since April 2018. The value of all exports was $583.7 million.
On a total milk solids basis, U.S. exports were equivalent to 17.7% of U.S. milk solids production in June, the highest rate since April 2018. In the first half of the year, exports were 15.8% of production, up from 14.1% in the first half of 2019.
Headline highlights in June included record cheese exports, continued robust sales of nonfat dry milk/skim milk powder (NDM/SMP), ongoing recovery of whey sales, and record shipments of fluid milk/cream. Overall volume gains vs. a year ago came from Southeast Asia, China and the Middle East/North Africa (MENA) region, plus a welcome improvement in sales to Mexico.
Cheese exports in June were 38,427 tons, 29% more than last year and the most ever. Much of this volume represents deals booked in April and May when U.S. cheese prices were at historic lows. The unit value of shipments was just $3900/ton, the second lowest over the last nine years.
