The upside potential for dairy demand faces some question marks moving into the new year. Dairy’s product sales should grow, led by natural cheese, butter and yogurt. But that growth will be at a slightly slower pace than the previous year. U.S. consumers will be pressured by reduced household savings, growing credit-card debt and increased interest rates. Growth in dairy sales could be tepid but the dairy aisle remains the largest sales category in U.S. grocery stores at more than $78 billion in annual sales, based on Circana sales data.
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Corey Geiger
Corey Geiger is the lead industry analyst with the Knowledge Exchange Division of CoBank.
CoBank is a $158 billion cooperative bank serving vital industries across rural America. The bank provides loans, leases, export financing and other financial services to agribusinesses and rural power, water and communications providers in all 50 states. It’s a member of the Farm Credit System. Visit www.cobank.com for more information.
