Today, Agriculture Secretary Tom Vilsack announced that the department would raise the prices paid for milk and cheddar cheese through a dairy support program. For the Associated Press story by Mary Clare Jalonick, click here. This increase will be in place until October and is expected to provide a $243 million boost to dairy farmers’ overall revenue.
According to the article,
[t]he price paid by dairy processors to farmers is set by the U.S. Department of Agriculture based on commodity markets that rise and fall with global demand. Dairies increased production when demand for U.S. milk exports soared last year, but once the global recession accelerated last fall, demand dropped and farmers were left with too much milk and too many cows. Wholesale prices crashed.To view the press release from USDA, click here.
Posted: 07/31/09
