Dean Foods hit by rising milk prices

Dallas, Texas: Dairy processor Dean Foods has warned that rising milk prices and the over-supply of organic milk will hit its full-year profit. It was increasingly likely that raw milk prices would hit an all-time high in the third quarter, said chairman and CEO Gregg Engles. The company's Horizon Organic milk brand, he added, was facing a significant over-supply of raw organic milk following a change in regulations. This had forced prices lower, which would affect short-term profitability.