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Updated: 11:14 AM Jan 12, 2009
Cheese Prices Drop 40%; Wisconsin Dairy Farms In Downturn
Price Of Barrel Of Cheese Dropped 72 Cents A Pound In One Month
Posted: 10:00 AM Jan 12, 2009 |
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Wisconsin's 15,000 dairy farmers are struggling with declining milk prices caused by a dramatic drop in the price of cheese.
About 80 percent of the state's milk is used to produce cheese, so cheese prices largely determine milk prices paid to farmers.
The price of cheese has lost about 40 percent of its value in the last 30 days. The week ended on the Chicago Mercantile Exchange with the price of barrel cheddar cheese at $1.07 per pound. The month began with the price at $1.79 per pound.
At Quantum Dairy in the Town of Weyauwega, 1,750 cows produce 4 million pounds of milk per month. Quantum's Kurt Duxbury says they're shutting down one milking parlor to increase their efficiency. He says they have to find ways to sustain the business, even during severe downturns.
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