The state of Wisconsin lost 10 percent of its dairy farms in 2019, Dairy Herd Management reported last week. The loss of 818 dairies was the largest decline in Wisconsin history.
Exports of U.S. dairy to China dropped by more than 50 percent in 2019, according to CNBC. The dairy industry is also facing competition from alternative products such as almond, rice, and soy milk.
In related news, Borden Dairy Co. filed for bankruptcy earlier this month, becoming the second major U.S. milk producer to do so in recent months. The filing comes less than two months after Dean Foods Co. filed for Chapter 11 in Houston.
Sources: The National Memo, Bloomberg