Food industry specialists and economists are warning that milk could jump as much as 60 cents a gallon putting the dairy staple at its most expensive per gallon cost ever.
Several factors are contributing to the rise in prices. From cheese production, to the harsh winter the Midwest is experiencing, to other market forces, milk could reach an average as high as $4.10 per gallon. Even higher in some regions.
Cheese production sagged late last year causing prices to jump as stocks dwindled and cheese makers ramped up production. Cheese is a large market for liquid milk. Also, international trade in cheese is growing by leaps and bounds, especially in China.
Winter weather was also a factor in lower milk production. For instance, Wisconsin milk production was down 1.9 percent due to the weather.
Read more: Breitbart