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China Milk Thirst Hands U.S. 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.