SARATOGA SPRINGS, N.Y. -- Starting January 5, Stewart's Shops is lowering the price of a gallon of its milk by 30 cents and the cost of a half gallon of its milk by 16 cents, the company announced on its website and on social media.
On average, the price for a gallon of milk at Stewart's will fall by 30 cents, from $4.04 to $3.72, Stewart's Shops spokesperson Maria D' Amelia, toldThe Watertown Daily Times.
The last time the average price per gallon of milk at Stewart's was below Monday's $3.74 was in October 2013, when it was $3.72, she said. The highest price per gallon at Stewart's in 2014 was in May, when it peaked at $4.14, she said.
"Typically when we change our prices, it's within a 10-cent range. With this being such a dramatic change in milk prices, we felt this was a good piece of news that we wanted to share. I think it's an opportunity to celebrate," she told the newspaper.
D' Amelia said she expects other convenience store and grocery chains to follow suit.
A number of global and economic factors led to the price drop, the retailer said, but it was influenced most significantly by supply and demand. After a record year for milk supply to meet growing international demand, the tides have turned and global demand, including the need for U.S. exports, is lessening. The result is that the cost of milk is lower for the consumer.
Saratoga Springs, N.Y.-based Stewart's Shops picks up fresh milk daily from more than 30 dairy farms in Saratoga, Rensselaer and Washington counties. It processes that milk at its dairy in Greenfield, and is also used to make other Stewart's products such as ice cream, half and half and eggnog.
Stewart's customers can continue to receive additional savings with their milk club card, the company said.
Click here to view a Stewart's Shops video report. And click here to view the full Watertown Daily Times report.
Stewart's Shops operates more than 300 convenience stores located across upstate New York and southern Vermont.
Members help make our journalism possible. Become a CSP member today and unlock exclusive benefits, including unlimited access to all of our content. Sign up here.