11-03-2014 03:38 AM | USA

Asian dairy demand lifts US milk prices

By Nat Rudarakanchana - Demand for milk within Asian countries, particularly China, has led to spikes in milk prices in the relatively small $1.8 billion milk futures market, reports the Wall Street Journal.

That has translated into higher prices for global buyers of milk contracts, like big dairy processors and companies, but has also led to slightly higher U.S. retail prices for milk. Government data show retail milk prices rose 1.5 percent in January from a year ago, with forecasts for price hikes of 3.5 percent this year.
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