In February, U.S. dairy exports posted their highest levels since the second quarter of 2012, says the U.S. Dairy Export Council.
Source: USDEC’s "Global Dairy Market Outlook"
U.S. dairy exports continued to improve in February, posting their highest levels since second quarter of 2012, says the U.S. Dairy Export Council.
Overall volumes were up for the second straight month -- 8% higher vs. January on a daily-average basis, USDEC says in the April 23 edition of its "Global Dairy Market Outlook" newsletter. Value rose for the fourth straight month, and 9% above January.
Pricing relationships were more favorable for U.S. suppliers in February, and anticipated tight supply from competing exporters has buyers looking to the U. S., says USDEC. Nonfat dry milk/skim milk powder (NDM/SMP), cheese, butterfat, lactose and fluid milk volumes all are trending higher.
"The improvement of NDM/SMP is particularly encouraging: February volumes were 35,152 tons, up 23% from January (daily average) and the most since last August," USDEC notes. "Volumes are still below a year ago, but recent advances represent a change in the trend. Exports were equivalent to 43% of production for the month, just below the five-year average."
Cheese exports in February were 21,638 tons, up 9% from January (daily average) and the most since last June. Exports were equivalent to 5.4% of total cheese production. Butterfat exports in in February were 4,426 tons, a nine-month high. Volume was up 9% from January (daily average).
Dry whey exports were on par with prior months, with slight improvement in WPC and a slight decline in dry whey. Lactose exports were 28,057 tons, the most ever on a daily-average basis.
In February, exporters shipped $439.3 million worth of dairy products. Exports were equivalent to 13.5% of U.S. milk solids production. Meanwhile, imports as a percent of milk solids production were 3.0%.