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The international market price of wheat doubled from February 2007 to February 2008 hitting a record high of over US$10 a bushel. [92] Rice prices also reached ten-year highs. In some nations, milk and meat prices more than doubled, while soy (which hit a 34-year high price in December 2007 [93]) and maize prices have increased dramatically.
These purchase prices are set high enough to enable dairy processors to pay farmers at least the support price for the milk they use in manufacturing these products. The 2002 farm bill (P.L. 107-171, Sec. 1501) mandated a support price of $9.90/ cwt , effective through December 31, 2007, when the program by law was scheduled to expire.
Milk price per gallon of whole milk Corn vs ethanol production ... It was reported in 2007 that with increased worldwide prosperity and the competition of bio-fuel ...
The worst drought in New Zealand in 30 years has pushed the latest international milk prices up more than 60% since the beginning of the year. Meanwhile, China -- already importing about 25% of ...
Data from the Office for National Statistics showed the cost of low-fat milk had increased by 45.2% and olive oil by 44.6% in the past year.
In 2007 dairy farmers received a record $23.60 for 100 pounds (45 kg) (11.63 gallons at $2.03/gallon) of milk. This dropped in 2008 to $17 ($1.46/gallon). [12] The average dairy farm produced 1.3 million pounds of milk annually in 2008. [13]
(The Center Square) – One of Wisconsin’s largest dairy groups says the latest milk marketing proposal isn’t a win-win for Wisconsin dairy farmers, but it’s not a guaranteed loss either.
In 2007, rising demand and planned reforms were forecast to eliminate the oversupply of milk and butter eventually. [3] By 2009, the butter mountain had returned because of a steep decline in the price of dairy products. [ 4 ]