Export market for Cow Milk in Australia (12월, 2022)

U.S. dairy product exports have seen consistent growth for seven consecutive months, with a 24% increase in value compared to the same period last year in October. This growth is primarily driven by higher shipments of cheese, butter, and dairy products, with nonfat dry milk/skim milk powder experiencing its first year-over-year increase since November 2021. However, future growth may face challenges due to increased competition from Europe, domestic sales taking up supply, and economic pressures in Latin America driving demand for cheaper alternatives. Despite these challenges, the first 10 months of 2022 set a new record for U.S. dairy exports with a value of $8.08 billion. Additionally, the October report also highlighted a slight increase in beef replacement heifers exports and a steady export volume of dairy embryos, though exports of alfalfa hay and other hay products experienced a decline.