USDA Adjusts December Dairy Balance Sheet
Much of the movement in USDA's December dairy outlook was a shoring up of import and export forecast for this calendar year as well as next. World agricultural outlook board chair Mark Jekanowski said when it comes to 2022 fat solid imports.
“We raised about 300 million pounds based on higher imports of butter as well as some cheese export forecast. We raised as well by the same amount based on higher exports also of butter as well as butter containing products.”
And in the skim solid category Jekanowski noted.
“Import forecast raise 100 million pounds based on cheese imports. For 2023 we did reduce our skim solids basis export forecast by about 100 million pounds, mainly on reduced sales of lactose given pretty stiff international competition there.”
Jekanowski added that most built category and class prices were adjusted up compared to the previous month.
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