According to the U.S. Department of Agriculture (USDA) U.S. agricultural exports will reach a record value of $140 billion, with dairy exports reaching an all-time record value of $5.8 billion in the fiscal year ending September 2013. The increase in dairy exports is found to be due to a drop in dairy production in the EU. This marks a $500 million increase for dairy from fiscal year 2012. As global production and values moderate next year, the USDA predicts that U.S. dairy export values will decrease to $5.6 billion in fiscal year 2014. Total U.S. agricultural exports are expected to drop to a value of $135 billion in FY 2014. Little change is expected for livestock, poultry and dairy however, oilseeds are forecast to drop in value by $5.4 billion due to lower prices. Grain and feeds are expected to drop by $1.7 billion due to lower wheat, rice and feed and fodder exports. Agricultural exports to China are expected to decline by $2 billion in FY 2014 from FY 2013 and Canada is expected to once again become the top U.S. market for agricultural goods.
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