DAIRY MARKET PRICES

Report for April

Fluid milk sales showed the lowest volume decline in almost a year during November 2016–January 2017. American-type cheese consumption continued to outpace that of other cheeses during the same period. American-type cheese exports showed positive growth for the first time in more than a year during December 2016–February 2017. U.S. exports of dry ingredient products continued to grow by double-digit percentages during the same period, as they have since the second half of 2016. U.S. milk production continued to grow by around 2½ percent, as cow numbers have crept up. Product inventories are building and beginning to erode the gains in milk prices registered during the second half of 2016.