That's definitely true if you've bet on consumption increases and preempted meeting that demand, but milk prices are pretty volatile, jumping +/- $4/cwt through

That's definitely true if you've bet on consumption increases and preempted meeting that demand, but milk prices are pretty volatile, jumping +/- $4/cwt throughout the year, which makes me think that COGs are padded enough to give you plenty of time to react. Gut feelings though. For comparison, red meat consumption in the US has fallen 15% in the last 10 years and Tyson stock$ is near it's 5 year high.