On a total milk solids basis, exports were the equivalent of 17.7% of milk production in June. Year-to-date through June, exports equated to 15.8% of milk production, up from 14.1% in the first half of 2019.
Cheese exports jumped some 29% over last year, somewhat the result of low U.S. cheese prices spring. “Much of this volume represents deals booked in April and May when U.S. cheese prices were at historic lows,” say USDEC analysts. “The unit value of [these] shipments was just $3,900/ton, the second lowest over the last nine years.”
Mexico’s cheese purchases were up 62% from a year ago in June, South Korea’s were up 56% and China more than doubled its June cheese buy.
Nonfat dry milk/skim milk powder (NFD/SMP) June exports exceeded 75,000 tons for the second straight month, up 77% from last year. Growth came from Malaysia, the Philippines, Indonesia and Vietnam while Mexico made its largest NFD/SMP purchase in eight months.
Other results for June:
• Milk protein concentrates: +28%
• Fluid milk/cream: +17%
• Butterfat: +15%
• Whey: +8%.
• Lactose: -4%
• Whole milk powder: -2%
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