US exports weak in July

by | Sep 13, 2023 | Global, Volume trends

US dairy exports declined across all major product categories we track in July, except milk powders. We estimate that July shipments fell 8.3% YOY in milk solids equivalent (MSE) terms – the 6th consecutive monthly decline.

Cheese exports were 36,897t in July, down 1.2% YOY, reflecting weaker shipments to South Korea and SE Asia, and despite growth in exports to Mexico and China & HK. Exports of dry whey also declined for the 6th consecutive month in YOY terms, down 39.2% driven by weaker shipments to China & HK – an 18-month low at 14,050t. At 2,369t, exports of butter were down 61.2% YOY.

NFDM/SMP exports rose 2.8% YOY in July to 65,549t, reflecting an increase in shipments to Mexico and the Middle East, and despite weaker exports to other markets led by China & HK.