Bloomberg: Milk Seen Surging 15% on Drought Feed Costs Before Demand Slows
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Following an interview with Dairy Management Inc. Chief Executive Officer Tom Gallagher, Bloomberg reports retail milk prices will rise as much as 15 percent by the first quarter of 2013 after the worst U.S. drought since 1956 sent livestock-feed costs to a record high.

Meanwhile, retail food prices are forecast by the U.S. Department of Agriculture to rise from 2.5 percent to 3.5 percent this year. Read the full report via Bloomberg.

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