The Beer Institute’s estimate of domestic tax paid shipments by beer brewers for October 2024 shows a slight increase of 1.2% compared to October 2023. Year-to-date shipments through October are down 3.3%.
The October 2024 is 11,400,000 barrels, compared to October 2023 removals of 11,269,946. October was one of only four months so far this year that had an increase in domestic shipments. The biggest increase came in February which was up 9.9% versus February 2023.
The drop in shipments of 3.3% for the year-to-date through October represents a decline if 4,328,611 barrels, fueling the excess capacity that already existed in the industry at the end of 2023 by a significant amount.
See the Brewers association press release here.