According to a report from the Global Agricultural Information Network, U.S. cream and butter exports to Canada are good. Overall, dairy sales in Canada are back to pre-pandemic levels now through September.
Canadian milk production was up nearly 3% year-over-year. That said, the country remains the top market for U.S. butter and milk fat, accounting for more than 30% of U.S. exports over the past five years. The recent flooding in Canada’s southwest, where roughly 9% of the country’s milk is produced, could also mean increased U.S. imports to end the year.
CELL CULTURED MEAT
The interest in cell cultured meat continues. An Israeli startup called Future Meat just raised nearly $350. It is the largest single fundraise for a cell cultured meat company ever. That’s according to Egg Funder. The investment includes major U.S. agribusinesses like ADM and Tyson. Future Meat is gaining interest after saying it can produce cultivated chicken breast for $7.70 per pound, which is down from $18 a pound just six months ago. It plans to use the money to build a production facility in the U.S.