In the ongoing maturation of the U.S. dairy industry as a global player, we took another step forward in 2012.
Ask any of the 100+ members of the U.S. Dairy Export Council and they’ll tell you market conditions were challenging last year. In the first half of the year, favorable weather and high previous year returns brought forth heavy milk production worldwide, which pushed global prices, on average, around 20% lower than the prior year. In the second half of the year, the U.S. summer drought pinched U.S. supplies and drove our prices above our overseas competitors’ offerings.