U.S. milk and butter prices have risen to record levels this year.

The Department of Agriculture's final report for 2012 says farm income increased despite the drought, because of high prices for crops that made it to market. But the drought is continuing into winter and could affect next year's harvests.

The drought has already affected livestock feed prices. Holiday dinner shopping list prices may be next.

Weather, speculation, and the economy all impact food prices. So are you paying more for groceries today than in decades past? Find out with the Marketplace Grocery Shop Simulator.

The Federal Reserve wraps up its two day policy meeting today. It's expected to announce whether it will pump more stimulus money into the U.S. economy. Meanwhile, we just got inflation numbers for August. Wholesale prices increased 1.7 percent last month — the biggest jump in three years.

Global food prices are expected to rise in the long term as population grows, but a new study warns that severe weather events like this year's drought in the U.S. could spike prices higher suddenly.

A top U.N. official says countries like the U.S. will have to adjust their agricultural policies. But some say the leader's latest statement is too little, too late.

Lobster prices are at rock bottom lows. And that's causing a cross-border fight between Maine lobstermen and Canadian ones. The Canadian lobstermen have been blocking their American counterparts from dropping off their catch at Canadian processing plants.

Agriculture Secretary Tom Vilsack discusses what the drought will mean for farmers and food prices, and the administration's plans to try and help.