2022 December Board Book

Business Development, December 2022

Domestic Retail

The first chart below is for TTL US and the second is for California. On the left is the latest 52 weeks, with the timeframe progressively shorter until the last column, which is the last 4 weeks, through 10-2-22.

Year-to-date California is trending better than TTL US for yogurt and frozen novelties. Milk and cottage cheese declines are virtually equal between CA and TTL US. California's declines in natural cheese and butter are deeper than national trends. On a more recent 4-week basis TTL US butter consumption is up +2.5%. In California, natural cheese consumption was up in the 4- and 12-week periods through August, and recent declines are likely due to consumer stocking up during promotions. We know from the recent USDA report that per-capita consumption of total dairy was up in 2021 and we’ll need a strong holiday period to match ’21 consumption levels. With the recession and consumers scaling back consumption in many areas, that will be a tough bar to reach this year.