Come fall, when the kids head back to school, Mom and Dad are likely to find that a gallon of milk for cereal will cost them more than the gas that got them to the store to buy it.
The national average price for the calcium-rich drink that "does a body good" could hit a record $5 a gallon by September, MarketWatch reported Tuesday. The current average price is about $3.50 a gallon nationally, say dairy experts. That's more than the current national average gas price, which is $2.975 a gallon, according to AAA.
High fuel prices, drought and a spike in the cost of feed and dairy operations are all kicking up the price of the frothy, white beverage. Booming international sales and last year's lower farm milk prices, which slowed its production in the United States, are adding to the soaring costs.
"So many things play into it," said Auburn University dairy expert Boyd Brady. "The price is going to increase a little bit more than what it is right now, that's for sure."
2007-06-28
07:14:10
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