High dairy prices projected to be slightly lower in 2008

High dairy prices projected to be slightly lower in 2008

U.S. Department of Agriculture economists say strong domestic and global demand for dairy products, along with tight supplies, have pushed milk prices sharply higher.

The USDA’s “all-milk” price, which was $12.90 per hundred pounds in 2006, will jump 47.3 percent to $19 in 2007. High milk prices have even exceeded the pace of soaring feed and energy costs and helped to make producers profitable in 2007. That has translated into larger milk output, up 3.2 percent during the year’s thir

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