Dairy Products on U.S. Market
A recently updated annual USDA report on the American dairy situation reveals optimistic results. Following the data reported on the 15th of September 2020, American dairy consumption reached an all-time high in 2019. Products that have seen the biggest growth in consumer’s interest are cheese, butter, and yogurt. Comparing data from 2010, the consumption of the mentioned goods rose by, as follows: 19%, 24%, and 7%. As the International Dairy Foods Association claims “Overall, ERS data show American dairy per capita consumption across products consistently increasing each year, with 2019 up 6% over the past five years, 10% over the past 15 years, and 16% over the past 30 years.”. Moreover, according to USDA data, American fluid milk prices decreased another -1.75% in 2019, in comparison to the year before. Despite such a drop, it is worth noting that the decline is the smallest it has been since 2016.
According to other USDA data, overall butter sales in the last decade have grown by 25%.In 2019, the average citizen consumed 6.2 pounds of butter. Such a figure is the highest it has been since 1965. Referring to the forecast for Changes in Consumer Food Price Indexes, 2018 through 2021; dairy products prices rose by 4,4% year-over-year July 2019 to July 2020. Such an outcome is significant, especially in comparison to the 20-year historical average, when the change, fluctuated situating on 1,6 level. In general, prices in most food categories went up but dairy is one that has not changed as dramatically, as opposed to meat prices that have changed drastically.