Report for July

Fallout from the developing tariff conflict between the United States and some of its major trading partners has already had a major, negative impact on the price outlook for U.S. dairy farmers. But these tariff actions began in June and have therefore not yet shown up in reported trade and consumption statistics, which have only been reported through May. Data to date show that U.S. dairy exports were mostly higher year-over-year through May. Commercial use of cheese was up over a year ago in the domestic market, while increased exports had the effect of reducing the measured consumption of most other products domestically.