Dairy prices have hit near record highs across the nation and could climb even higher this summer. The price is climbing to $3 a gallon nationwide, and even higher in some states.
The cost of making milk products like yogurt and cheese will also get a lot more costly. It’s because milk is suddenly in short supply.
Just a year ago, the price of milk hit a 25-year record low and forced some money-losing dairy farmers to send their cows to slaughter. That helped cause a shortage of milk-producing heifers. In fact, there are now 150,000 fewer cows producing milk than this time last year.