According to a recent report from the USDA, prices for dairy products have fallen in the past year by 1.8 percent. The decline is largely attributable to lower demand and reduced global milk production. To understand this trend better, we need to look at what happened with ice cream prices during that same time period: they increased 5%.
This means that even though consumers are paying less for their favorite frozen treat, it’s costing them more than ever before! So what exactly does that mean for ice cream lovers? Consider this: if you buy one pint of premium ice cream, it will cost you about $0.99 more than a year ago. As global milk production continues to be affected by low prices and changing demand patterns worldwide, consumers could see the price of their favorite frozen treat continue on an upward trend in 2019 and beyond.
That’s because even though cows are producing less milk today as they did last year, farmers require higher costs associated with feed (e.g., corn) for them to produce any amount at all. The bottom line is that while dairy products may have become cheaper in the short term due to reduced global supply, don’t expect your next trip .
