August’s slight rise in U.S. dairy export volume positions year-to-date export volume growth at 0.1%, the first time in all of 2024 where volumes have surpassed the no-growth threshold.

Gains made across all categories helped U.S. dairy exports post a 9.6% year-over-year rise in milk solids equivalent in July. The month’s success set the tone for an optimistic second half of the year. Here’s Progressive Dairy’s 30,000-foot view of dairy-related export categories.

Analysts at Rabobank are expecting supply from the seven major milk-producing regions of the world to increase modestly over the second half of 2024 due to recent improvements in milk prices and cheaper feed.

In economic news this week: U.S. exporters’ secure rights to use common food names in Chilean market. Global dairy trade, FSA interest rates and farmer sentiment shift downward, and the USDA launched an online debt consolidation tool.

To date in 2024, total dairy exports are valued at $5.9 billion with the fiscal year-end forecast at $8 billion.