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Entries in supermarket (2)

Thursday
Jul192012

Milk Prices May Rise as Drought Spreads

Noel Hendrickson/Digital Vision/Thinkstock(NEW YORK) -- The devastating heat and drought that now covers more than half the continental U.S. is taking its toll on farmers and their crops.  The price of soybeans and corn have hit a new high and wheat prices are at their highest levels in more than four years.

But how will this affect consumers?

Supermarket prices for some foods may rise, but it’s not yet clear how big the increase will be.  Some of the first products that will likely be hit with higher costs are milk and cheese, since cows are producing less milk.

But for now, “milk prices are actually the lowest they’ve been in 18 months because of surpluses built up over an ultra-mild winter and spring," reports USA Today.

Meat prices will likely follow, rising later this year.  And while grain price increases will have some impact on consumers, they make up a relatively small share of processed food costs.

Copyright 2012 ABC News Radio

Saturday
Jul022011

Winning Mega Millions Ticket Bought at Virginia Supermarket 

Justin Sullivan/Getty Images(HERNDON, Va.) -- A single ticket matching all six numbers in this week's Mega Millions jackpot worth an estimated $107 million was purchased in Virginia, lottery officials said.

The winning numbers from Friday's drawing were: 12, 17, 30, 35, 47, and mega ball number 26.

The winning ticket was purchased at a Giant Food store in Herndon, Va., according to the Virginia Lottery website.

The store is expected to get a $50,000 bonus for selling the lucky ticket.

The holder of the winning ticket could choose to take the entire jackpot amount in 26 annual payments or a single cash option of an estimated $68.1 million.

Friday's jackpot is one of the largest won in 2011.

In March, several New York state government workers won a $319 mega millions jackpot; while two months prior to that, two tickets holders from Washington and Idaho split a $380 million jackpot.

The upcoming drawing on Tuesday is estimated to have a jackpot of around $12 million with a lump sum cash option of $7.6 million. It will roll over to the next drawing if there is no winner.

The biggest jackpot game in the nation, Mega Millions is played in 41 states and in Washington, D.C.

Other smaller jackpots range from $2 to $250,000, depending on how many numbers are matched.

The biggest Mega Millions jackpot ever won was $390 million in March 2007.

Copyright 2011 ABC News Radio







ABC News Radio