By Tyler Durden | 26 January 2022
ZERO HEDGE — Breakfast is the most important meal of the day, as it replenishes the body’s supply of glucose to boost energy until lunch while providing other essential nutrients. The first meal of the day usually consists of eggs, bacon, toast, fresh-squeezed orange juice, coffee, and milk.
Today, breakfast foods are becoming expensive as food inflation soars to a decade high. Earlier this week, we noted how orange juice prices are rocketing higher due to supply woes in Florida. Now consumers must prepare for ‘milkflation’.
This week, a new industry report from the National Milk Producers Federation warns milk supply is falling and isn’t going to recover in the near term, which could unleash dairy inflation.
The dominant features of the basic U.S. dairy situation continue to be tighter milk production, record export volumes, higher prices, sluggish domestic consumption, and dropping inventories.
Total dairy cows and total milk production in the United States were both lower than a year earlier during the September-November rolling quarter. […]