What was the price of milk in 1950?
Texas generally ranked in the top ten states of the nation in milk production during the 1970s and 1980s, and Texas farmers received a gross income of $504,583,000 from milk in 1980.
Until the 1950s Harris, Dallas, Tarrant, and Bexar counties usually led as milk producers. In the 1980s Hopkins, Erath, and Wise counties were leading; these three counties accounted for about 30 percent of the state’s product, and Hopkins County alone produced 16 percent of the Texas total.
Although its power was diminished in the 1970s, in the 1980s most Texas producers were still marketing milk as members of that organization. General price stability at profitable levels for efficient producers was the rule through the 1970s, but a growing national dairy surplus posed a threat to Texas milk producers.
The demand for milk increased, and so did prices. 1950: 83¢ per gallon In 1946, the federal government passed the National School Lunch Act, which required that every school lunch include 1/2 to 2 pints of whole milk. The price of milk skyrocketed by 20 cents in five years.
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For a bit of background, milk is one of the goods the BLS monitors for inflation, using it in calculating the overall change in consumer prices….Milk Prices By Year And Adjusted For Inflation.
1950: 83¢ per gallon.