Dairy Export Council outlines growth areas
A trade analyst says low global inventories of skim milk powder will likely benefit U.S. exports in the year ahead.
William Loux with the U.S. Dairy Export Council tells Brownfield while China has continued to build its stocks, other regions have not.
“Southeast Asia, the Middle East/North Africa have not built up significant inventories and by our calculations, it really looks like both the Middle East and Southeast Asia really need product right now,” he says.
Loux says that should be pretty bullish for U.S. prices as New Zealand and the European Union are down for production.
As for cheese exports, “We should see rising demand in cheese in the year ahead, consistent with what we’ve seen historically,” he forecasts.
And for whey, Loux says demand has been huge and will likely grow with increased consumer interest in high protein health products.