◂ Event Timeline

Dec 12, 2022REPORTUS

Over 60% of dairy fat goes to cheese, butter

In 2021, cheese absorbed 42.1% of US dairy fat and butter took 18.3%, a combined 60.5%. Beverage milk's share fell to 10.6%, the lowest in about 20 years.

Total US dairy fat production rose to 9.3 billion pounds.

WHY IT MATTERS

Growing butterfat output going mainly into cheese and butter reflects the structural shift away from fluid milk, which shapes where milk fat demand and prices are concentrated.

AFFECTSMilk (Class III)

SOURCE
hoards.comCorey GeigerDec 12, 2022

Price reaction & history

Milk (Class III)no directional readSO FAR1d 0.0%5d 0.0%20d -4.7%

After 664 past report events, Milk (Class III) moved a median -0.1% over 5 sessions (44% higher; middle half -0.7% to +0.5%), and -0.1% over 20.

May 25, 2023EU27 cheese gains at expense of butter, says USDA FAS - Dairy Industries International-3.5%
Dec 20, 2017Butter and cheese continue their upward trend as the world demands more dairy fat: USDA-0.1%
Jul 12, 2025Cheese production continues to grow - Dairy Star+0.5%
Jan 31, 2020Two thirds of EU milk used to make cheese and butter - Products Eurostat News - Eurostat-0.5%
Dec 30, 2025Dairy Markets Face Winter Blues: Will Inventory Data Spark Demand for Butter, Cheese and Cream? - Dairy Herd-4.9%

Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.

Milk (Class III) MILK · GP ▸

——— · ·

Loading…