2023 May Board Book

Processor Partnerships Update

Dairy Performance Reports

IRI/Circana reports that total dairy (all categories) dollar sales in the first three months of 2023 continue to outpace same time period prior year. Jan, Feb, Mar sales in total increased $1.6B or an 8% increase over last year. Higher retail prices (inflation) is a key contributor and we are seeing sales lifts across every category. Top 3 categories in cheese, milk and yogurt drove the majority of sales along with the continued high demand in cream/creamers, butter, and weight control products (milk powders, diet bars, etc.).

Total Dairy Dollar Sales Total US MULO+C

$8.00Billion

$6.34Billion $6.44Billion $6.38Billion

$6.50Billion

$5.83Billion $5.88Billion $5.85Billion

$5.00Billion

$3.50Billion

$2.00Billion

$.50Billion

January

February

March

January

February

March

2022

2023

Data through March26 2023