(click on image to enlarge)
Trade data was released today and for the most part there is little to get excited about. The U.S. actually exported 19% more NFDM/SMP than in October 2008. October exports were the highest of the year for all dairy products.
USITC reports a year-to-date positive trade balance in dairy of $234 million (this does not include casein). Although 2008 was much higher, most years there in not a positive trade balance.
All kinds of butter (HTS 0405) imports were slightly higher this October. The table above shows the joys of globalism, in the butter category for 2009.
Thought we had a "surplus"? Why would we import that much if we already have too much? I may be off, but I come up with the equivalent of 1,479,747,984 lbs of milk. If I'm right that's .8% of our projected domestic production, just in butter imports. ???????DWCovert
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