“Fast forward to 2009 and there was not only a strong downturn in the U.S. economy, but also strong downturns in many global economies. We went from a situation where the United States was commercially exporting (dairy products) to one where we weren’t. That sent milk prices from record highs to near-record lows in a short period of time.”
A steep drop in milk prices has left the U.S. dairy industry in precarious shape. Across the nation, dairy operations are going bankrupt as under-pressure farmers point to price manipulation and poorly designed government programs as chief culprits.