On a milk solids equivalent, April 2023 dairy product exports had their worst year-over-year decline in four years.

Not all of the dairy economic news is cloudy: The U.S. dairy industry grew significantly over the past two years, adding jobs, increasing wages and boosting its total impact on the U.S. economy.

On a milk solids equivalent, March 2023 dairy product exports fell below the same month a year earlier, ending an 11-month streak of year-over-year gain.

Compared to last month, the USDA raised the U.S. milk production estimate for 2023 slightly, but also raised Class III and all-milk price forecasts.

While still historically low, February 2023 exports of most U.S. hay products rebounded slightly from January.

• February FMMO milk class prices back to 2021 levels
• Global dairy product prices declined in February
• Dairy margins ended February modestly higher
• RaboResearch: The dairy squeeze is on

Following the U.S. Food and Drug Administration’s (FDA) proposed guidance allowing plant-based beverages to use "milk” in labels and marketing, multiple dairy state lawmakers have introduced a bill to nullify it.