2023 September Board Book

Processor Highlight – Yummy Cheese

Success story of innovation from Yummy Cheese entering into the Excelerator competition and how CMAB was a key player in their success. Guest speaker from Yummy will be presenting at the Sept Board Meeting. Michael Vickerman will talk about the company history and the road to success. They won the Snackcelerator competition in 2020 and from there, with CMAB’s support and guidance have increased their market presence in many major retailers. Circana reports that total dairy (all categories) dollar sales from January to July of 2023 outpace dollar sales in 2022. From the beginning of the year until July 30 th , sales have increased a total of $5.1B or an 11% increase over the last year. Inflation is still weighing heavy on the minds of consumers as many looks back to their receipts from a year ago noticing the price of their home staples have gone up as high as 40%. The top 3 categories driving the sales increase are Cheese, Milk and Yogurt with Frozen Novelties gaining more traction over traditional Ice Cream. Dairy Performance Report

Total Dairy Dollar Sales Total US MULO+C YTD Ending July 30

$- $1,500,000,000 $3,000,000,000 $4,500,000,000 $6,000,000,000 $7,500,000,000 $9,000,000,000 $10,500,000,000

$8.95Billion

$8.16Billion

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2022

2023