Wednesday, September 30, 2009
(click on image to enlarge)
Today, I noticed in my local supermarket whole milk price at $2.75 per gallon. Not in line with NY’s milk price gouging law.
However, today a reader sent a photograph of Wal-Mart’s NFDM price. Every pound of solids-not-fat in one hundred pounds of farm milk makes a pound of NFDM. Then to that you add 4.3 pounds of butter from the same hundredweight of milk.
All of which adds up to over $50 per hundredweight at you local friendly Wal-Mart. Probably, farmers got $9.90 for the milk that went into Wal-Marts NFDM product. H. Lee Scott, Jr., CEO of Wal-Mart reportedly makes $5.99 million. One has to wonder how many Chinese peasants and how many American dairy farmers it takes to get Mr. Scott up to the level he so richly deserves.