Jan 28, 2009 — Dairy farmers will tell you milk prices are a roller coaster of highs and lows. Well, right now, the price farmers are paid for their milk is plummeting down a stomach-turning slope. The price of fluid milk tumbled 5 dollars per hundredweight in a month. It's down 50% from this time last year. The drop is trickling down to consumers, too. Stewart's Shops is dropping the price of 1% milk 30 cents to $2.49 a gallon. To understand why the price of milk has fallen so far so quickly, we turn to Andy Novakovic. He's a professor of agricultural economics at Cornell University. He told David Sommerstein the basic problem is there are too many cows in the United States. He says that's causing a bottoming out of milk prices not seen in 30 years.