CME: Powder Exports Slower in December

US - US exports of NDM/SMP were slightly slower in December, falling to their lowest level since July 2010 (daily-average basis), writes Alan Levitt, in Friday's dairy report.
calendar icon 13 February 2012
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Shipments were 33,675 tons (74.2 million lbs.), down 12.7% from November, according to USDA’s Foreign Agricultural Service (see chart).

In addition, NDM/SMP exports in December were below 40% of production for the first time since April 2010. Since May 2010, the United States has exported 53% of the milk powder produced.

Cheese exports remained active. December shipments were 20,343 tons (44.8 million lbs.), down 2% from November (daily-average basis). It was the ninth time in the last 13 months that US cheese exports topped 40 million lbs.

Butterfat shipments, on the other hand, remained slow. December sales were just 3,224 tons (7.1 million lbs.), down 21% from November. Export volumes in the second half of the year were down 43% from first-half volumes. Butterfat imports in December (3,755 tons; 8.3 million lbs.) topped exports for the first time since August 2009.

NASS dairy product prices for the week ending Feb. 4: cheddar blocks $1.5587 (-2.45¢ vs. the prior week); barrels $1.5409 (-3.73¢); butter $1.5470 (-4.27¢); nonfat dry milk $1.3853 (-0.83¢); dry whey 66.48¢ (-1.03¢).

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