Dairy Farmers Worldwide Are On the Brink of Crisis
- Billions in global stimulus not enough to stem the losses
- Reduction in U.S. dairy herd seen matching record levels
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The world’s dairy farmers are facing an existential crisis.
They’ve dumped millions of gallons of milk, slowed output and sold off older cows. Global governments stepped in with stimulus cash that provided some much-needed temporary relief, helping benchmark Chicago milk futures to almost double in two months. But once the aid money starts to dry up, many producers will confront tough choices again: suffer through losses, or pack it all in and shut the farm.