Snow, drought driving dairy prices to record highs

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(KPLR) – Wholesale prices for milk, cheese and other dairy products hit all-time highs Monday.

The price of milk could rise by as much as a dollar a gallon. Nasty weather in the Midwest has put a lid on production in recent months. California, which produces a fifth of the nation’s milk, is still recovering from a drought. Surging demand for milk in Asia is also squeezing supplies.