Dairy exports surged in June, reaching 18.7% of domestic milk solids production—the highest levels since 2022. Meanwhile, stocks of major dairy products held steady from May to June.

U.S. fluid milk sales rose 0.5% from a year earlier in June, while domestic yogurt consumption jumped 12.2%. Overall domestic commercial use of milk solids in all dairy products increased 3% year-over-year. Meanwhile, exports accounted for 18.7% of domestic milk solids production, a sharp rise compared with recent levels.

U.S. milk production growth accelerated in the second quarter, with milk solids composition also trending higher. Despite this, stocks of major dairy products held steady from May to June, as did the national average all-milk price. The Dairy Margin Coverage (DMC) margin improved by $0.70/cwt, supported by lower feed costs.

At retail, dairy prices have seen little change over the past three years, even as overall consumer prices including food and beverages have climbed at least 9% since peaking in 2022.

Source: NMPF / USDEC