Gains across virtually all major product categories lift year-over-year volume by 10% .  

Robust global demand drove up year-over-year (YOY) U.S. dairy exports by 10% on a milk solids equivalent (MSE) basis in September. All product categories except anhydrous milkfat (AMF), lactose, and milk protein concentrate posted gains. 

Dairy’s affordable nutrition, taste, and functionality continue to drive consumption growth worldwide. Despite elevated dairy protein prices, the UN Food and Agriculture Organization Food Price Index shows dairy remaining relatively stable (and lower than 2024 and 2025) amid more rapidly rising prices for other food products, such as vegetable oils and cereals. 

Strong overall dairy trade results (including from the two top global suppliers, New Zealand and the EU) attest to dairy’s unique position. As USDEC’s latest International Demand Analysis points out, August was the 15^th straight month of YOY global dairy trade growth, and volume is tracking to almost certainly set a new record this year. If U.S. September numbers are any indication, September should be the 16^th straight month of growth. 

Reliable cheese 

Cheese remains the foundational product for the current era of U.S. dairy export growth. U.S. suppliers posted their 18^th straight month of YOY gains in September, as volume rose 12% (+6,555 MT). Growth was widespread, but Latin America especially stepped up in September. U.S. cheese shipments to Central America soared 54% (+2,350 MT) YOY, Mexico rose 11% (+1,967 MT), and South America increased 27% (+812 MT). While U.S. cheese is still facing war-related supply chain challenges in the Middle East, September volume to Saudi Arabia soared 221% (+2,148 MT). The only major blemish for cheese was Australia. U.S. exports to Australia fell 48% (-2,663 MT) YOY in September, after dropping 10% (-433 MT) in August. 

Butter bounces back, but AMF falls flat 

After YOY declines in July and August (the first monthly shortfalls in over two years), U.S. butter exports rebounded in September. Volume rose 29% (+2,003 MT), as Bahrain fully reestablished its position as the burgeoning butterfat market it was for U.S. suppliers prior to the beginning of the war in the region in March. Over the five months prior to March, U.S. suppliers had shipped 5,181 MT of butter to Bahrain. After March, volume fell to zero for five months. Following the restart of shipments in August (+945 MT), U.S. suppliers exported 1,797 MT in September. 

However, while butter exports bounced back, AMF exports plummeted 68% (-1,368 MT) to 630 MT. It was the first monthly decline in AMF exports (and the lowest monthly volume) since March 2024. Two key customers—Canada (-95%, -731 MT) and the Caribbean (-93%, -532 MT)—led the decline. 

Surprise NFDM/SMP performance 

U.S. nonfat dry milk/skim milk powder (NFDM/SMP) prices have been sky high most of the year, with the exception of a window from mid-June to mid-August. Savvy buyers seeking to capitalize on that short reprieve in pricing and restock pipelines likely drove the surprise increase in U.S. NFDM/SMP exports in September. Shipments rose 7% (+3,677 MT), fueled by strong demand from Latin America: Mexico (+19%, +5,553 MT), Colombia (+73%, +1,598 MT), and Central America (+41%, +743 MT). 

WPC80+ rises for first time this year 

Tight exportable supplies of U.S. high-protein whey (WPC80+) and high prices have kept U.S. exports in check all year—until September. For the first time in nine months, YOY WPC80+ shipments increased. (Note: USDEC adjusted whey shipments to China from March 2024 to May 2026 to account for misclassified products). Volume rose 7% (+472 MT), led by a 126% increase to Canada (+743 MT) and 23% growth to Japan (+341 MT). U.S. whey protein concentrate stocks (including low and high-protein) ticked up in August, turning WPC80 prices sharply downward, while prices for higher-protein versions plateaued. 

Learn more about global dairy markets

• U.S. dairy exports rise 9% in the first half
• Women making strides in dairy worldwide
• Women are reshaping global dairy—but the work isn’t done
• USDEC's Mid-Year 2026 Dairy Company News Review
  
  

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The U.S. Dairy Export Council fosters collaborative industry partnerships with processors, trading companies and others to enhance global demand for U.S. dairy products and ingredients. USDEC is primarily supported by Dairy Management Inc. through the dairy farmer checkoff. How to republish this p