Pipelines Sufficient, as Sentiment Softens

The U.S. Dairy Export Council is pleased to share the latest Global Dairy Market Outlook, our take on global dairy trade, international market drivers and U.S. performance.

Global dairy markets are generally balanced, but sentiment is weaker on record-high New Zealand milk production, resilient European supply, ample inventories and mild overall import demand. Buyers are comfortable with their holdings and pipelines are in good shape. Global demand continues to grow steadily, but in cyclical fits and starts, keeping prices from breaking out in either direction.

In the first seven months of 2018, U.S. export value was $3.34 billion, up 5 percent from the year before. U.S. exports were equivalent to 16.6 percent of U.S. milk solids production.

To read more in the latest issue of Global Dairy Market Outlook, click here.