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Soaring foreign demand raises milk prices
Posted By -NO AUTHOR- On 02/20/2014 @ 5:07 pm In Money,World | No Comments
(Reuters) Picking up a gallon of milk at the grocery store is getting pricier, and the cost could hit a record high for U.S. consumers in March, analysts warned.
Strong global demand and stagnant production in other countries has led to increased exports of U.S. dairy products in recent months, generating more money for dairy farmers but resulting in likely price hikes of 10 to 20 percent at the retail level in some markets, according to analysts.
That could add as much as 60 cents to the price of a gallon of milk.
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