With milk prices plunging to lows that haven’t been seen in nearly four years, dairy cooperatives are dumping the product to curb an oversupply.
While shoppers are clearing out milk cases at grocery stores, that’s not making up for the closings of restaurants and schools. U.S. cows are entering their most productive time of the year right now as the coronavirus is killing off a significant source of demand.
Some dumping usually occurs during the U.S. spring, but this year it will be “even more aggressive,” said Alyssa Badger, director of operations at HighGround Dairy in Chicago.
“There’s no way to offset how much loss we’re seeing with school closings and food-service demand in the form of cheese and butter, just because someone’s buying an extra gallon of milk,” Badger said.
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