Cheddar cheese
Year-to-date change: 47.7%
Several factors have rocketed the price of cheese higher in short order. First, higher feed costs for cattle (corn, oats) have made their way to the end product.
Second, attractive slaughter cow prices appear to be encouraging much heavier culling of cows from the herd.
And third, Australia and New Zealand, which account for 40% of the world's dairy trade, have scaled back milk production forecasts for 2011 due to adverse weather negatively impacting pastures.
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Last updated February 28 2011: 7:24 AM ET
