U.S. Whole Fresh Milk Export Price per Ton August 2022

In August 2022, the whole fresh milk price per ton stood at $1.1 per kg, growing by 1.7% against the previous month. Over the last seven months, it increased at an average monthly rate of +1.5%. The most prominent rate of growth was recorded in July 2022 when the average export price increased by 13% against the previous month. The export price peaked in August 2022.

Average prices varied somewhat for the major external markets. In August 2022, the country with the highest price was Taiwan (Chinese) ($1.2 per kg), while the average price for exports to Canada ($849 per ton) was amongst the lowest.

From January 2022 to August 2022, the most notable rate of growth in terms of prices was recorded for supplies to Mexico (+2.4%), while the prices for the other major destinations experienced mixed trend patterns.

U.S. Whole Fresh Milk Exports

For the third consecutive month, the United States recorded decline in shipments abroad of whole fresh milk, which decreased by -9.5% to 10K tons in August 2022. Over the period under review, total exports indicated a buoyant increase from January 2022 to August 2022: its volume increased at an average monthly rate of +7.0% over the last seven months. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on August 2022 figures, exports decreased by -26.3% against May 2022 indices. The most prominent rate of growth was recorded in February 2022 with an increase of 59% against the previous month. Over the period under review, the exports attained the peak figure at 14K tons in May 2022; however, from June 2022 to August 2022, the exports remained at a lower figure.

In value terms, whole fresh milk exports reduced to $11M (IndexBox estimates) in August 2022. Overall, total exports indicated a prominent expansion from January 2022 to August 2022: its value increased at an average monthly rate of +8.6% over the last seven months. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on August 2022 figures, exports decreased by -13.5% against May 2022 indices. The pace of growth appeared the most rapid in February 2022 when exports increased by 67% against the previous month. The exports peaked at $13M in May 2022; however, from June 2022 to August 2022, the exports stood at a somewhat lower figure.

U.S. Whole Fresh Milk Exports by Country

Taiwan (Chinese) (5.9K tons), Canada (3.5K tons) and Mexico (516 tons) were the main destinations of whole fresh milk exports from the United States, with a combined 97% share of total exports.

From January 2022 to August 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Taiwan (Chinese) (with a CAGR of +13.3%), while the other leaders experienced mixed trend patterns.

In value terms, Taiwan (Chinese) ($7.1M) remains the key foreign market for whole fresh milk exports from the United States, comprising 64% of total exports. The second position in the ranking was taken by Canada ($3M), with a 27% share of total exports.

From January 2022 to August 2022, the average monthly growth rate of value to Taiwan (Chinese) amounted to +14.4%. Exports to the other major destinations recorded the following average monthly rates of exports growth: Canada (+2.1% per month) and Mexico (+2.3% per month).

Source:  https://www.indexbox.io/blog/whole-fresh-milk-price-per-ton-august-2022/