Dec
07

Udder Nonsense

Eager to take advantage of fat margins dairy farmers around the world ramped up production in response to high prices. But, those same record prices weakened consumer demand for milk (down 4%), cheese (1.5%) and butter (2.5%). Now, the increased supply and decreased demand have resulted in 17% lower prices for milk! How many dairy farmers survive depends on how fast banks cut off credit to unprofitable farms.

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