Dairy farmers enjoyed higher milk prices in 2024 due to lower milk output for much of the year, and that same market force caused retail milk prices to climb to a new high. The average price for a gallon of conventional whole milk in the U.S. last year was a record $4.39, up 5 cents from 2023.
That number is based on a survey federal order market administrators collect from large grocery store chains and dairy or convenience store chains each month in 30 cities or metro areas around the country. Last year, the average monthly price was lowest in March at $4.32 per gallon and highest in November and December, which both recorded an average of $4.48 per gallon. That is a narrow 16-cent window compared to the wide swings dairy farmers witness for their highly perishable raw product.
The locations with the lowest and highest average prices for a gallon of whole milk were unchanged from 2023. Customers paid the least for their whole milk gallon in Louisville, Ky., at an average of $3.29 per gallon. However, that was 35 cents higher than the city’s 2023 average price of $2.94 per gallon.
By Katelyn Allen
January 23, 2025
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