By: Bob Meyer
Dairy markets have been nudging higher over the past few weeks mainly in response to the powder market. Then on Monday the USDA monthly Livestock, Dairy and Poultry Outlook gave the markets a bigger push when it reported 2013 will be the fourth consecutive year of record dairy exports and projecting 2014 will be even bigger. While the recovering global economy is a contributing factor, the big player in all of this is China and the fact Oceania and Europe just won’t be able to meet Chinese demand…and that means a good opportunity for U.S. dairy producers. Dr. Allan Gray is Director of the Center for Food and Agricultural Business at Purdue.
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