The report found that U.S. dairy exports are setting records this year in terms of value.
The report covers January through October 2022 and says this increase was driven by strong prices for dairy products. Overall values are up 25 percent. Whey exports led the way with a 37 percent increase since last year.
USDA says the increase in export value didn’t necessarily coincide with an increase in export volume. In fact, nonfat dry milk export volume dropped eight percent while the value went up by 27 percent. Ice cream and dry whole milk and cream saw a decrease in export volume by one and two percent, respectively. On average, volumes rose by five percent. Butter and milk fat were the only categories where volume growth outpaced growth in value. Volume increased 43 percent while the value rose 30 percent.
