Export market for Cheddar Cheese in United States (12월, 2022)

November milk production increased by 1.3% compared to the previous year, marking the fourth consecutive month of year-over-year growth exceeding 1%. This growth is attributed to an increase in cow numbers and higher milk per cow. However, the total milk production for the year is expected to grow by only 0.3% due to a decrease in the average number of cows. The five leading dairy states showed varied results, with some experiencing increases in milk production while others, such as California, saw decreases. High milk production states like Georgia, South Dakota, Iowa, and Kansas, along with states like Michigan, Minnesota, and Pennsylvania, saw increases despite fewer cows due to increased milk per cow. On the other hand, Florida and New Mexico experienced significant decreases in milk production. Stronger milk production has led to a slight decrease in milk prices, with Class III and Class IV milk prices expected to average lower in 2023. Despite high feed prices, the USDA forecasts a slight increase in the average number of milk cows and milk per cow, resulting in a modest increase in total milk production in 2023. Dairy exports have been a positive factor for milk prices in 2022, with a notable increase in cheese exports for the seventeenth consecutive month. However, the potential for a recession in 2023 raises concerns about the growth in domestic milk and dairy product sales, making the outlook for milk prices in 2023 uncertain.