The U.S. Department of Agriculture (USDA) last week said dairy exports for fiscal year 2014 (FY14) are expected to climb to another record high.
Projected dairy exports for FY14 (October 2013-September 2014) were raised $400 million from the previous forecast, to $6.3 billion, as strong global demand continues to support high prices.
U.S. dairy exports were valued at $6.13 billion in FY13.
The stronger U.S. economy in 2014 is also expected to lift U.S. import demand at the same time U.S. exports rise. The FY14 U.S. dairy import forecast was raised $100 million, to $3.2 billion. The forecast for FY14 cheese imports was unchanged at $1.3 billion.
Milk production mixed
Milk production in the 23 major states...