American milk producers are enjoying a windfall thanks in part to surging exports to China, Bloomberg reported, citing US Department of Agriculture (USDA) data. While the average farm will see a 21% drop in net-cash income in 2014, dairy farmers will earn 28% more at US$334,100, the USDA predicts.
US dairy exports in January were up 19% from a year earlier, driven in part by the expansion of the middle class in China with its booming demand for cheese and milk-based products. Cheese shipments from the US to China doubled over the same period.
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