01-04-2014 04:37 AM | China

China milk thirst hands US dairies record 2014 profits

In a year when most American farmers can expect lower earnings than in 2013, U.S. milk producers are having a windfall.

Prices have never been higher, feed costs are down, and output is headed for an all-time high as exports surge to buyers from Mexico to China. While the average farm will see a 21 percent drop in net-cash income, led by declines for corn, wheat and soybeans, dairy farmers will earn 28 percent more at $334,100, the U.S. Department of Agriculture predicts.
Full Story : Bloomberg