Dairy exports a "bright spot" according to Farm Bureau

Source: American Farm Bureau

Between January and April of this year, the United States imported $78.2 billion worth of agricultural products — the highest value on record. Over the same period, U.S. agricultural exports totaled just $58.5 billion, resulting in a record-setting agricultural trade deficit of nearly $20 billion in the first four months alone.

Despite this dim outlook, one bright spot stands out: dairy.

Image credit - American Farm Bureau

U.S. dairy exports exceeded $3 billion through April, marking a new record and outpacing dairy imports by more than $1 billion ($3 billion vs. $1.9 billion).

Today’s Market Intel underscores both the importance of foreign market access to dairy farm profitability, the potential for market expansion from the current trade negotiating dynamics, and the continued vulnerability of the sector to volatile and unresolved trade disputes and barriers, despite a strong start to the year.

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https://www.fb.org/market-intel/strong-start-fragile-future-u-s-dairys-trade-balancing-act