USDA: Dairy Exports Hit Record Levels
USDA’s Foreign Agricultural Service released its biannual report on America’s dairy exports. The report found that U.S. dairy exports are setting records this year in terms of value. The report covers January through October and says this increase was driven by strong prices for dairy products.
Overall values are up 25%. Whey exports led the way with a 37% increase since last year.
USDA said the increase in export value didn’t necessarily coincide with an increase in export volume. In fact, nonfat dry milk export volume dropped 8% while the value went up by 27%. Ice cream and dry whole milk and cream saw a decrease in export volume by 1% and 2%, respectively. On average, volumes rose by 5%. Butter and milk fat were the only categories where volume growth outpaced growth in value. Volume increased 43% while the value rose 30%.
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