U.S. dairy exports rallied impressively in February after 12 straight months of year-over-year (YOY) volume declines. YOY milk solids equivalent (MSE) volume grew 3.7%, setting a new February record. Gains in milk powder, cheese and whey lift YOY volume for the first time since January 2023.
While there were some positive signs of improving demand for U.S. dairy at the close of last year, February marked the first time since January 2023 that the United States’ three primary products—milk powder, cheese and whey—all posted YOY gains.
U.S. cheese exports starred, with YOY volume rising 27% to 41,854 MT—only the seventh time in history that U.S. cheese topped 40,000 MT in a single month. On a daily basis, February was the strongest month ever for U.S. cheese exports. Latin America continued to drive sales, but U.S. suppliers saw optimistic developments in Japan and the Middle East and ongoing growth in China as well.
Nonfat dry milk/skim milk powder (NFDM/SMP) exports rose 3.4% to 65,214 MT. It was the biggest YOY gain since August 2023. A rebound in sales to Southeast Asia (39%, +6,512 MT) fueled the increase. U.S. shipments to Mexico fell short of the volume record set in February 2023 but were still a respectable 29,465 MT.
See the full export report here
Source: U.S. Dairy Export Council
