Milk Could Hit Record High Price

2 years 2 months 1 week ago February 19, 2014 Feb 19, 2014 Wednesday, February 19 2014 Wednesday, February 19, 2014 5:36:00 PM CST in News
By: Alexandra Pierce, KOMU 8 Reporter

COLUMBIA - Grabbing a gallon of milk at the grocery store could hurt your wallet come March.

NBC reports that dairy analysts estimate store milk prices could go up 60 cents next month reaching their highest cost to date.  The average price of milk is $3.50 per gallon.

Strong global demand has led to increased exports of U.S. dairy products in recent months.  This increase has generated more money for dairy farmers but could also result in price hikes of up to 20 percent in some stores.

Joe Horner a dairy economist said there's a number of reasons why prices might go up.

"The demand shock has come from China, Asia and northern Africa, we've seen a really strong export demand this year.  We're now exporting milk from one in six cows in America," Horner said.

He also points to the drought in California as a reason for why consumers might see a price increase.

Production of alfalfa which is a key feed for cows has been affected by the drought out west.

Cheese is also to blame.  A short supply caused cheese to jump from $1.80 to $2.36 a block in January.  That increase is another driving force for the March spike in milk prices.

Horner said it's unsure how long prices will stay high.  He said a lot of it depends on when the West gets rain but eventually the prices will cycle.

Reuters reports the trend is reversing itself and price spikes should be short-term.

More News

Grid
List
COLUMBIA — The Missouri State Highway Patrol (MSHP) said Saturday a man who they arrested on Wednesday has died. ... More >>
3 hours ago April 30, 2016 Apr 30, 2016 Saturday, April 30 2016 Saturday, April 30, 2016 8:53:00 AM CDT in News
MEXICO — Parents, teachers and potential foster parents are taking the opportunity to offer their kids a better life by... More >>
5 hours ago April 30, 2016 Apr 30, 2016 Saturday, April 30 2016 Saturday, April 30, 2016 6:15:00 AM CDT in News
BALLWIN (AP) — Republicans are choosing 40 of the 57 Missouri delegates to their national convention and many may not... More >>
5 hours ago April 30, 2016 Apr 30, 2016 Saturday, April 30 2016 Saturday, April 30, 2016 5:56:00 AM CDT in News
COLUMBIA - A town hall meeting to explain an updated development code for the city of Columbia was held Saturday... More >>
7 hours ago April 30, 2016 Apr 30, 2016 Saturday, April 30 2016 Saturday, April 30, 2016 4:23:00 AM CDT in News
COLUMBIA — What was supposed to be a simple meet and greet resulted in a change of location and some... More >>
15 hours ago April 29, 2016 Apr 29, 2016 Friday, April 29 2016 Friday, April 29, 2016 8:09:00 PM CDT in News
COLUMBIA — High school students from all over the state traveled to Columbia for the MSHSAA Music Festival, the state-level... More >>
15 hours ago April 29, 2016 Apr 29, 2016 Friday, April 29 2016 Friday, April 29, 2016 8:01:00 PM CDT in News
COLUMBIA — Missouri residents will see more insects this Spring and Summer because temperatures did not hit below freezing enough... More >>
16 hours ago April 29, 2016 Apr 29, 2016 Friday, April 29 2016 Friday, April 29, 2016 7:07:00 PM CDT in News
COLUMBIA — The City of Columbia utility department recently sent out 8,000 incorrect utility bills. Assistant Director Jim Windsor... More >>
18 hours ago April 29, 2016 Apr 29, 2016 Friday, April 29 2016 Friday, April 29, 2016 5:36:00 PM CDT in News
COLUMBIA — The Columbia Senior Activity Center began its two-day spring garage sale on Friday. The annual garage sale... More >>
18 hours ago April 29, 2016 Apr 29, 2016 Friday, April 29 2016 Friday, April 29, 2016 5:35:00 PM CDT in News
COLUMBIA — KOMU 8 News is always trying to find new ways to reach our audience. Following a fatal... More >>
18 hours ago April 29, 2016 Apr 29, 2016 Friday, April 29 2016 Friday, April 29, 2016 5:00:00 PM CDT in Your View
JEFFERSON CITY (AP) — Gov. Jay Nixon has signed a mid-year increase to Missouri's budget that adds more than $460... More >>
19 hours ago April 29, 2016 Apr 29, 2016 Friday, April 29 2016 Friday, April 29, 2016 4:08:53 PM CDT in News
FULTON — A student organization from Westminster College was recently recognized at the Clinton Global Initiative University meeting held at... More >>
19 hours ago April 29, 2016 Apr 29, 2016 Friday, April 29 2016 Friday, April 29, 2016 3:59:00 PM CDT in News
COLE COUNTY — Firefighters rescued a man who was trapped by floodwaters from the Missouri River on Friday morning, according... More >>
20 hours ago April 29, 2016 Apr 29, 2016 Friday, April 29 2016 Friday, April 29, 2016 3:43:00 PM CDT in News
COLUMBIA — With moving season almost in full swing, the Better Business Bureau is warning customers to be cautious as... More >>
20 hours ago April 29, 2016 Apr 29, 2016 Friday, April 29 2016 Friday, April 29, 2016 3:42:00 PM CDT in News
COLUMBIA — In an email to faculty, staff and students Friday, MU Interim Chancellor Hank Foley announced a diversity leader... More >>
20 hours ago April 29, 2016 Apr 29, 2016 Friday, April 29 2016 Friday, April 29, 2016 3:09:00 PM CDT in News
ST. LOUIS (AP) — A man accused of shooting at several people in a St. Louis park, including a park... More >>
21 hours ago April 29, 2016 Apr 29, 2016 Friday, April 29 2016 Friday, April 29, 2016 2:34:01 PM CDT in News
COLUMBIA (AP) — A federal judge for now is leaving in place a preliminary injunction barring the state from revoking... More >>
21 hours ago April 29, 2016 Apr 29, 2016 Friday, April 29 2016 Friday, April 29, 2016 2:31:49 PM CDT in News
COLUMBIA — Doctors, educators and activists from all over the country met Friday for a conference, with the goal of... More >>
21 hours ago April 29, 2016 Apr 29, 2016 Friday, April 29 2016 Friday, April 29, 2016 2:19:00 PM CDT in News
Columbia, MO
Broken Clouds 63°
12pm 66°
1pm 70°
2pm 72°
3pm 73°

Select a station to view its upcoming schedule:

Coming Up Next

11:30a
English Premier League Soccer
1:30p
Premier League Goal Zone
2:00p
2016 NHL Stanley Cup Playoffs
11:30a
Hatched
12:00p
Are We There Yet?
12:30p
Are We There Yet?

Tonight's Schedule

7:00p
2016 NHL Stanley Cup Playoffs
7:00p
Family Guy
7:30p
Family Guy
8:00p
Bob's Burgers
8:30p
Bob's Burgers
9:00p
KOMU 8 News @ Nine on The CW
9:30p
Seinfeld