Prices dip during Easter-shortened trading week

MIELKE, from pg. 15 dairy exports fell below a year ago for the first time since January 2022. While the second largest February ever, the total, at 458.5 million pounds, was down 0.3 percent, according to the USDA’s latest data.

HighGround Dairy cited, “Higher dairy product prices at the end of 2022, when these exports were booked, and weaker international dairy demand, which slowed sales. Shipments to Mexico, the top dairy export market with nearly 30 percent share, grew again in February compared to prior year lev- els. Exports to China also increased year-over-year. However, dairy products sailing to other Asian markets, such as Japan, South Korea, Indonesia, and the Philippines, fell.”

Cheese exports totaled 72.5 million pounds, down 0.2 percent from February 2022, but up 6.8 percent year-to-date. Butter totaled 7.6 million pounds, down 31.8 percent from a year ago and down 21 percent year-to-date. Nonfat-skim milk powder totaled 139 million pounds, off 0.5 percent from a year ago, but 6.5 percent ahead year-to-date. There was 35.6 million pounds of dry whey exported, up 9.4 percent from a year ago, and up 9.1 percent year-to-date.