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The following is an archived video story. The text content of that video story is available below for reference. The original video has been deleted and is no longer available.

Experts Predict $5 Gallon Of Milk in 2015

WASHINGTON TOWNSHIP -- Grab your wallet because the cost of milk is on the rise again and it jumped more this year than in 2013.

"The prices are increasing moreso than what they did last year...forecasts are up over 2013," says Tim Smith.

Smith is the Dairy Manager for Dorothy Lane Market in Washington Township, he's been there for 12 years and hopes experts are wrong in predicting $5 a gallon for milk in 2015.

"It scares me to even think of that five dollar number."

Smith says the average cost of a gallon of milk in the Miami Valley is $3.29 to $3.49.

While drought across the U.S is hurting farmers and dairy production, Smith says a overseas demand is another major factor.

"Lot of it due to the exporting, U.S. is doing a lot more exporting now to China, some of the other countries we're sending out to, Australia, particularly," says Smith.

And milk is not alone, dairy products like cheese, yogurt, butter and ice cream are also more expensive.

"Cheese has really began to rise, it hasn't affected butter yet as much, but butter will go up, cheese has gone up as much as $2.70 a pound," says Smith.

Some grocey shoppers say even though the price is high, they will continue to buy it because they drink it everyday.

"Now that I've gotten older I always try to drink dairy because of the benefits of calcium. I think I'm going to have to look closely at the cost of gas vs. milk and try to shop closer to home but I know I'm always going to buy dairy," says retired librarian Nancy McAlpin.

Smith says he is looking for prices to dip a bit in the fall of 2014 as the price of feed comes back down and he says Dorothy Lane Market will continue to price its products to the competition.


 
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