Records were made to be broken -- just ask traders in corn, soybeans, and live cattle futures, all of which hit all-time highs this year.

Milk futures haven't joined that club -- yet. But with dwindling production and solid demand, it's likely only a matter of time before they do. And the ride won't be short. In fact, investors can expect to skim profits off milk throughout most of next year, even though prices might wobble a bit once they reach the stratosphere. "The bullish elephant in the room is that global milk-production growth has come to a standstill," says Shawn Hackett, president of Hackett Financial Advisers, even with prices already near record highs.