Declining Milk Prices Causing Serious Economic Consequences
AAEA Member Available to Provide Expert Insight
The declining price of milk has become a major problem worldwide.
Recent numbers show the price for Class III milk (used to make cheese) is down 19% from this time last year, and 41% since September of 2014. Class I, or fluid, milk has seen a sharp decline in prices since the beginning of the year.
That’s led to a drop of prices at the grocery store. The national average for a gallon of milk is down almost 40 cents from a year ago.
The drastic drop in prices has forced some U.S. farmers to think about selling cattle. And just last week dairy producers in Bolivia were involved in violent clashes with police over the price of milk.
Is there any relief in sight in 2016 or will this multi-billion dollar industry continue to take an economic hit?
AAEA member Dr. John Newton is the Senior Director of Economic Research for the National Milk Producers Federation. In addition, Newton has ten years’ experience with the USDA in dairy policy and was a professor in the Department of Agricultural and Consumer Economics at the University of Illinois.
Dr. Newton is available for interviews about this important topic to the industry. To schedule an interview please contact Jay Saunders in the AAEA Business Office.
Contact: Allison Scheetz
Senior Communications Manager