Got Milk Money?
Good news for dairy farmers is translating into bad news for consumers as the retail price of a gallon of milk moves towards 4 dollars. As a middle man in the milk business, Stephen Schwartz saw it first and these are the highest prices he's ever seen
"The price of milk is going up astronomically!"
"Yes, yes! And it's scary. I can't believe IÔŅĹm going to be seeing milk selling for over 4 dollars a gallon in the supermarkets over the summer."
Call For Action has learned that last year when milk prices were near record lows, some dairy farmers went out of business and sold off parts of their herds. Now suddenly there's not enough milk to meet the demand. And it's not just milk you're going to be paying more for. It's going to affect every dairy product on your kitchen table
Chris Galen, National Milk Producers Federation:
"Because those cows frankly were worth more for their beef value than they were for their milk production.
"And they're skyrocketing. They're going up even more this month."
Paula Lambert who runs a cheese company already had to raise her prices
"ItÔŅĹs certainly been an impact on our bottom line. When you see the price of your raw ingredients increase 70% over a period of 4 months."
So expect some sticker shock in the dairy case soon. Because for the farmers at least, milk has become a cash cow again.