Dairy analysts estimate store milk prices could go up 60 cents in March, reaching their highest ever.

“The cupboards are dry,” said dairy economist Mary Ledman.

Blame cheese. Short supply pushed cheese to a new peak in January, going from $1.80 to $2.36 a block. That jump is driving the March increases for “fluid milk.”

Moreover, in early 2013, farmers responded to higher feed costs by cutting back on herd growth. Coupled with growing international appetite, especially from China, that’s led to tighter supplies and higher prices.