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KANSAS CITY, Mo. (AP) - U.S. dairies are selling more milk but at much lower prices, creating a tough economic environment for the coming year, the nation's largest dairy network warned members at its annual meeting.
The Kansas City Star reported Wednesday that Dairy Farmers of America, with 20,000 farmer-owners, marketed a record 59.7 billion pounds of milk last year and generated $8.9 billion in revenue, a 5 percent increase over 2004.
But profits dropped 84 percent to $10.2 million, because the increased production forced down prices.
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