Record Dairy Export Pace Continues in October

December 10, 2013 06:27 AM
Record Dairy Export Pace Continues in October

At the current pace, U.S. dairy exports will top $6.6 billion this year, nearly 30% over the 2012 total.

Source: U.S. Dairy Export Council

With two months left to go in 2013, the value of U.S. dairy exports already topped the full-year total for 2012 and established a new high.

January-October exports were valued at $5.54 billion, compared with $5.12 billion in all of 2012. At the current pace, U.S. exports will top $6.6 billion this year, up close to 30% from the 2012 total.

Exports have been steady on a month-to-month basis since June, averaging $602 million per month over the last five months. This figure is 47% higher than last year.

In October alone, export value was up 52% from last year. As has been the case throughout 2013, the three fastest-growing markets (by value) for U.S. suppliers in October were China (+96% vs. prior year), Southeast Asia (+ 93%) and Middle East/North Africa (+186%).

On a volume basis, exporters shipped 163,785 tons of milk powder, cheese, butterfat, whey and lactose during October, up 27% from the prior year. Volumes were slightly higher than September (on a daily-average basis), led by gains in nonfat dry milk/ skim milk powder (NDM/SMP), cheese and dry whey.

Pricing relationships remain favorable for U.S. suppliers and global demand is steady. Oceania and European supply is recovering, creating more competitive pressure, but the United States has continued to gain share of the global market throughout 2013.

On a total-solids basis, exports were equivalent to 16.3% of U.S. milk production in October. Meanwhile, imports as a percent of milk-solids production in October were 3.4%.

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