Significant export growth was posted by all types of cheese and by whey protein concentrate and isolate, with dry whey showing a smaller increase. Overall, however, aggregate domestic use was flat during the period.
U.S. milk production was below year-ago levels during each of the 12 months from July 2023 through June 2024, with a average drop during those months of 0.8 percent from production during the prior 12 months. Total milk solids production increased by 0.4 percent and milkfat production was up by 1.7 percent during this period.
Dairy product and farm-level prices, as well as margins over feed costs, have continued to rise in recent months as supply has kept pace with demand.
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