Just heard that milk and beef prices will be going way up. The reason is a lot of things sort of happening at once. Of course, this will mean cheese and other meat prices will rise as well.

The supply of dairy cows is at a 5 year low due to the price of milk last year being too low, a lot of farmers weren't making money, or were losing money, so they reduced their herd size. Then Mad Cow came along and we stopped importing cows from Canada, so no new herd growth. Of course, demand has gone up and the result is... more demand than supply so prepare to bleed from the wallet for awhile. The good news is, the farmers who stuck around are going to rack it in!

I'm sure the price of pork and chicken will go up as people who used to eat beef will switch to other meats.