U.S. Dairy Farmers Dump Excessive Milk to deal with lower prices

U.S. Dairy Farmers Dump Excessive Milk to deal with lower prices

Dairy farmers in the United States have dumped excessive milk as the strong production has led to increase in stockpiles of cheese and other milk products. The excessive supply has also led to decline in prices, which has forced farmers to discard more than 43 million gallons of milk during the current year, as per Wall Street Journal report.

The report cited data from the U.S. Department of Agriculture informing that the price has reduced by nearly 36 percent from the average price over the last three years.

In order to help farmers, USDA has announced that the authority will buy cheddar cheese worth $20 million. Earlier as well, the USDA helped farmers by buying products from the market.

As the price of milk and milk products has dropped, farmers are staring at third consecutive reduction in their earnings.

Two years back, the prices had touched high and farmers increased production to meet the demand in the market. Now, the condition has reversed and with oversupply, the prices have softened.

“Everyone has dumped milk, from Minnesota to New England,” said Ken Nobis, head of the Michigan Milk Producers Association.



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