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By 1925, the United States had 1.5-2 million dairy cows, each producing an average of 4200 lb of milk per year. By 2007, there were 9.1 million dairy cows with an average milk production of over 20,000 pounds per year and eight pounds per gallon. [1]
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.
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.
For most of us who didn't study economics, inflation is a concept you notice only when the items you usually purchase are suddenly more expensive during your grocery shopping checkout. Primer ...
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 ...
The Food and Agriculture Organization (FAO) Food Price Index 1961–2021 in nominal and real terms. The Real Price Index is the Nominal Price Index deflated by the World Bank Manufactures Unit Value Index (MUV). Years 2014–2016 is 100. Food prices refer to the average price level for food across countries, regions and on a global scale. [1]
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Cow Milk Production by State in 2016 After a brief rise following the Great Recession of 2008-9, milk prices crashed again in the late 2010s to well under $3 a gallon at major grocers in the United States. Pennsylvania has 8,500 farms with 555,000 dairy cows. Milk produced in Pennsylvania yields an annual revenue of about US$1.5 billion. [70]