Business Services Industry
U.S. Agriculture Department lowers wholesale price for milk.
Knight Ridder/Tribune Business News, June, 2004
By Mark Minton, The News & Observer, Raleigh, N.C. Knight Ridder/Tribune Business News
Jun. 25--Milk prices are about to come down. Relieved consumers can smile and say cheese.
A collapse in the price of cheddar has prompted the U.S. Department of Agriculture to lower the wholesale price it sets for milk by 27 cents starting July 1, with some observers expecting more cuts ahead.
Grocery stores say they will respond by reducing prices of the milk on their shelves.
"We do anticipate lowering milk prices," said Jeff Lowrance, a spokesman for Food Lion grocery stores, based in Salisbury. "We don't know by how much yet, but that USDA action should reduce retailers' cost to some extent."
Other grocers are also expected to...
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