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Thursday, October 18, 2012

Got Milk? Drought Threatens to Push Up Dairy Prices

Time to start really relishing those Oreos everyone, because soon milk could be a delicacy too expensive to pair with the bicolored cookie.
Milk prices are on track to jump as much as 15 percent in the beginning of 2013, an industry group said Wednesday, thanks in large part to the worst drought since 1956, which has sent animal feed prices soaring.
Searing temperatures and sparse rain in the nation's corn-producing regions have led to the biggest drop in corn output in 17 years, which has in turn put a premium on livestock feed, a big component of which, of course, is corn.
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