US Whiskey Inventory Plateaus as Producers Work Towards Equilibrium

Dear Client: "Adjustment" and "right-sizing" are the name of the game when it comes to inventory levels. In a note published today, Bernstein pointed out an encouraging trend in the US whiskey space, with lower production levels and broadly flat inventories so far this year.  CURRENT STATE OF THE MARKET, PRODUCTION SLOWING. US whiskey inventories (i.e. maturing stock in barrels) reached an all-time high in 2024 at 1.45 billion proof gallons, with an annual production of about 286 million proof