Wal-Mart's (WMT) Dairy and Meat Products
Wal-Mart raised prices on a number of groceries this years, particularly dairy and meat products, CFO Charles Holley said in May. The retail behemoth raised grocery prices in response to rising commodity costs, especially for corn and for grain that is used for cattle feed. Whole milk prices averaged a cost of $3.597 per gallon in April, up 15% year-over-year, according to the Bureau of Labor Statistics. The average retail price of cheddar cheese rose nearly 3% year-over-year to $5.204 per pound this spring, the highest price since the early 1980s. Nationwide retail prices for meat are expected to grow 6% to 7% in 2011, year-over-year, with beef prices expected to rise 7% to 8%. As of April beef prices were already 12% higher than they were a year ago.