Breast feeding when is a child to old to breast feed?

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What age do you think a child should stop breast feeding? I think a year 10 to 12 months is old enough, I have heard and seen people breast feeding a 2 year old and talking about feeding their child until they were 5. Am I wrong to think this is to old or are they just crazy. If you are one of these parents please tell me the reason why you still feel this is okay