Severe price fluctuations in 2007 and 2008 were chaotic for the dairy industry, and there are signs that this could happen again soon
For many U.S. consumers, declining food prices have been one bright spot in the current economy. Although 2009 has been a very difficult year for many homes and businesses, it is no small consolation that the economy did not enter the period of “stagflation” that it appeared headed for in 2007 and 2008, when incomes and employment levels were flat or down, even as prices for necessities like food and fuel kept rising. During that time, fluid milk topped $5 per gallon in several U.S. ...
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