Exports of U.S. dairy products are way up. china has increased imports to dairy products from the U.S. by nearly 48%. This has not really helped the U.S. dairy farmers financially. Meanwhile, much of the rise in feed costs can be attributed to corn and soy exports to China.
China has some worries: http://blogs.wsj.com/chinarealtime/2010/11/26/china%E2%80%99s-inflationary-food-fight/
There have been riots, small riots in China over food prices. The Chinese government can always call out the army but, the stability of the government depends upon the people prospering. Things look worrisome.
When the world financial crisis hit, the American dairy farmer took a hit. This was because, those in power could take it out of the farmers hide. Meanwhile, there has been no change in dairy pricing policy. As the clock ticks, what looks like the future is NMPF plan to essentially maintain the status quo. Too bad!