With so many pandemic related variables, it’s been a balancing act for U.S. dairy exports. At this point, anything is possible.
Normally, things such as economic and population growth, price levels, price spreads, changes to trade agreements/tariffs and available supply in each of the exporting regions would be the main drivers for the U.S. export outlook. While those are still very important drivers, there are wide possible ranges for those variables, and there are big unknowns such as when a widely available vaccine will be available.