Dairy demand is not just an Australian thing

Dairy demand is not just an Australian thing. In a year when most American farmers can expect lower earnings than in 2013, US 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. Milk futures in Chicago are up 24% this year and cheddar cheese gained 19%, with both reaching records last month. Bloomberg reports, US dairy exports reached 162,999 tons in January, up 19% from a year earlier, while the value rose 35% to $583.7 million. Estimates are that China's dairy imports rose 30% last year. Dairy costs tracked by the United Nations are the highest since the data began in 1994, after climbing 9.8% in the three months through February, outpacing the 1.2% gain for all foods. Full report here: (VIEW LINK)