Milk prices soaring in Midwest

VIDEO CNNfn's Ceci Rodgers looks at soaring milk prices in the Midwest Play video (QuickTime, Real or Windows Media)

CHICAGO (CNN) -- With the cost of a gallon of milk approaching $4, Chicago-area shoppers are paying the highest prices anywhere in the United States -- up to 30 percent more than the rest of the country.

The price hike comes despite the plummetting price of raw milk -- down as much as 40 percent in some parts of the United States.

"It's more (that) they (grocery stores) want to make money on this product, because they're lowering their prices on other things," says brokerage firm analyst Morgan Paisley of Alaron Trading Corp.

Anti-trust regulators in Illinois are investigating.

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