Milk Rally Spurs Dairy Output Gain as Wal-Mart Raises Price
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U.S. dairies are generating record production as farmers seek to benefit from a rally in milk prices that is boosting costs for shoppers at Wal-Mart Stores Inc. and eroding profit for Starbucks Corp.
Milk output totaled 16.662 billion pounds in April, up 1.5 percent from a year earlier, and the highest ever for the month, the U.S. Department of Agriculture said today in a report. Last week, the agency forecast record domestic output through next year.