# Issuu

> USDA's May 2024 dairy market report shows US cheese exports up 20% year on year in Q1, with 8.1% of domestic cheese production exported. Domestic dairy consumption was weak in Q1, with most categories down, while cheese prices are showing strength and the DMC margin is near the $9.50/cwt Tier 1 level.

- Date: 2024-05-22 · published 2024-05-22T12:00:00.000Z
- Category: trade · region US · magnitude low
- Page: https://feedsoft.ai/events/30254-issuu
- Commodities: [Milk (Class III)](https://feedsoft.ai/c/MILK.md)

## Why it matters

Strong cheese exports support cheese prices and milk demand, a mildly bullish signal for milk. Weak domestic consumption and food-service softness cap the upside.

## Read by commodity

- MILK: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| MILK | 2019-11-05 | [Chinese dairy consumption is driving world milk prices higher](https://feedsoft.ai/events/10246-chinese-dairy-consumption-is-driving-world-milk-prices-higher.md) | -0.1% | -4.2% |
| MILK | 2023-11-09 | [US butterfat is experiencing a resurgence – and trade opportunities await](https://feedsoft.ai/events/33182-us-butterfat-is-experiencing-a-resurgence-and-trade-opportunities-await.md) | -0.3% | -5.1% |
| MILK | 2018-12-31 | [Higher milk prices expected in 2019](https://feedsoft.ai/events/7672-higher-milk-prices-expected-in-2019.md) | +2.2% | +1.1% |
| MILK | 2018-05-01 | [Class III milk could hit $16 by August](https://feedsoft.ai/events/5126-class-iii-milk-could-hit-16-by-august.md) | +5.4% | +4.6% |
| MILK | 2026-02-28 | [Record dairy exports in December - Dairy Star](https://feedsoft.ai/events/4600-record-dairy-exports-in-december-dairy-star.md) | +9.6% | +8.1% |

## Sources

- issuu.com: https://issuu.com/nationalycprogram/docs/dairy_market_report_-_may_2024_final

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.