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After a 8.4% milk price increase in 2022 – the largest since the CDC was created in 1967 – a C.D. Howe Institute commentary said not only are such large price rises undesirable for consumers, but they could be detrimental to the dairy industry if they lead to more illegal milk entering the market from the United States. [22]
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 monthly average retail price for a litre of milk in Canada was $2.96 in October 2023, according to Statistics Canada. [123] In February and September 2022, the Canadian Dairy Commission (CDC) raised the farm gate price of milk. [124] The Commission announced an additional increase which would bring the total increase to 10 cents per litre ...
January’s shop prices eased to 2.9% higher than a year ago, down from 4.3% in December, according to the BRC-NielsenIQ Shop Price Index.
Annual inflation increased to 8.3% in August 2022, in part due to rising grocery prices. [154] In September, the Fed increased the interest for a fifth time in the year reaching a 14-year high. [155] In November 2022, the year-over-year inflation rate was 7.1%, the lowest it has been since December 2021 but still much higher than average. [156]
According to The New York Times, if the current Farm Bill expires and the pricing equation reverts to its 1949 standard, the government will pay considerably more for milk.
Dairy farm near Bangor, Wisconsin. Dairy farming is a class of agriculture for the long-term production of milk, which is processed (either on the farm or at a dairy plant, either of which may be called a dairy) for the eventual sale of a dairy product. Dairy farming has a history that goes back to the early Neolithic era, around the seventh ...
Dairy industry in the United States. The dairy industry in the United States includes the farms, cooperatives, and companies that produce milk and cheese and related products, such as milking machines, and distribute them to the consumer. By 1925, the United States had 1.5-2 million dairy cows, each producing an average of 4200 lb of milk per year.