Lifeway Hit By Raw Milk Prices
Last summer's spike in raw milk prices affected small dairy companies the same way it affected the nation's largest processor, Dean Foods.
Third quarter income for the Morton Grove, Ill.-based Lifeway Foods fell 27.3% to $515,109, compared with $709,196, in the third-quarter 2003. Sales in the quarter ended Sept. 30 rose 7.8% to a record $4.14 million but the company attributed the drop in income to higher costs for milk.
Lifeway makes a dozen flavors of kefir, including varieties with no added sugar and low carbohydrates.
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