[blackdog]

A gallon of milk. The input costs and distribution represent less than five days form the cow eating her corn. The contracts for delivery buffer this somewhat, but not much because the processor assigns their direct costs immediately.

Watch dry nonfat milk contracts. Those give a better long term picture without the sawtooth daily bounces.

[WorldviewDad]

For me the time is even shorter...I bought the cow. We now have plenty of milk and have had to learn how to make butter, yogurt, cheese, and ice cream with our extra milk.

Several years ago I saw the inflation in food coming and started using my hobby farm to get prepared. Besides the milk we produce for our consumption; eggs, chicken, duck, beef, and lamb. And a byproduct of the lamb is wool that we use to cloth the family.

I am sure that inflation will affect us but hopefully we will have a small buffer for awhile.