Tuesday April 03, 2007

Milk prices expected to rise 9 percent

news.yahoo.com :

Dairy economists predict the retail price of milk could rise as much as 30 cents per gallon - a 9% jump - by fall. The reasons include rising fuel and feed costs for farmers and increasing demand for milk products around the globe. The average retail price of whole milk could rise to $3.35 per gallon by October, up from $3.07 in January, said Ken Bailey, an agricultural economist at Penn State University who specializes in the dairy industry.

Logan Bower, president of the Professional Dairy Managers of Pennsylvania, said costs for farmers have risen so much recently that he is unsure whether even the predicted price increases will help. Costs have surged for fuel and petroleum-based products and for the corn used to feed dairy cows, a side effect of increases in the production of ethanol. Bower said he now pays about $180 a ton to feed his 500 dairy cows, up from $115 a ton a year ago, an increase of more than 50%.

See also :

1. Top energy scientists agree, Bush wrong on alternative fuels
2. As corn price rises, so could food bills
3. Starving the people to feed the cars

(2007-04-03 12:28:10 SGT) [Biz] Permalink Comments [1]

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