Good news for U.S. dairy as exports surged higher in June, reaching 18.7 percent of domestic milk solids production, the highest level since 2022.
Meanwhile, stocks of major dairy products held steady from May to June.
U.S. fluid milk sales rose 0.5 percent from a year earlier in June, while domestic yogurt consumption jumped 12.2 percent.
Overall, domestic commercial use of milk solids in all dairy products increased by three percent year-over-year.
Meanwhile, exports accounted for 18.7 percent of domestic milk solids, a sharp rise compared with recent levels.
U.S. milk production growth accelerated in the second quarter, with milk solids composition also trending higher.
Despite this, stocks of major dairy products held steady from May to June, as did the national average all-milk price.
The Dairy Margin Coverage margin improved by 70 cents per hundredweight, supported by lower feed costs.
Retail dairy prices haven’t changed much in three years.
