US dairy exports surged in March, accounting for 18% of national milk production – a 10-month high. US cheese exports rose 12.9% YOY in March to 41,925t, the highest monthly volume on record in our database which starts in January 2010. In YOY terms, shipments have now increased in each month since July 2020.
The exceptionally strong March result was driven by increased shipments to Mexico, South Korea and Central America. Dry whey exports were also higher in March by 0.6% YOY at 52,418t, despite weaker shipments to Asia. This was more than offset by increased exports to Japan and North America. Among other major dairy products, exports of fats (butter and AMF) also increased in March, up by 46% YOY and 177% YOY respectively.
NFDM/SMP exports declined for the fourth consecutive month however, down 7.3% YOY to 80,596t (the highest monthly volume since July 2021), mostly reflecting weaker sales into Northern Africa. Sales to the Middle East and China & HK also declined more than offsetting stronger import demand from Mexico. March lactose shipments were also lower by 5.4% YOY, while MPC sales 1.7% YOY – the third consecutive monthly decline.