Local milk prices are in full-on deflation. A news story on local teevee told of a small local dairy operation that is getting no more than $1.00 per gallon for their milk. They say it costs them $1.70 produce it.
I'm not sure I have this right, but I think I heard that it has to do with milk prices in Asia. Australian milk production had fallen to critical levels and US milk was helping to meet the demand void. China also stepped up production and then Australia came back on line. Add worldwide deflation to the mix, and milk prices have plummeted.
I only buy a quart of milk a week for my cappuccinos so I never pay attention to milk prices. Has anyone else noticed falling milk prices? How about other dairy products?
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