According to the U.S. Dairy Export Council, it appears that the total value of American dairy exports reached a four-year high in May at nearly $540 million. Analysts attribute the increased values to improved world prices along with an increase in cheese exports, which were 11 percent higher in May than compared to the same time last year.
Despite the current trade situation with China, May’s dairy exports increased six percent in value year over year for a total of $539.1 million. While value was the highest in four years, export volume declined. Overall dairy export volume was down 13 percent from 2018, largely attributed to China. Volume to China was down 67 percent and value was down 44 percent. In contrast, export volume to the rest of the world declined by only one percent. Through the first five months of the year American dairy export volume is on track for the third-best year on record, even with the precarious trade relationship with China.
Listen to the report below.