More Milk Sales Won’t be Enough to Offset Losses
March 25, 2020
For the dairy industry, more buys at the grocery store likely won't be enough to offset losses, as the world economy slows.
The National Milk Producers Federation (NMPF) is forecasting losses over the last five weeks to be 2.85 billion dollars.
In a letter to Ag Secretary Perdue, NMPF made several requests including additional dairy product purchases, compensation for milk disposal and re-opening signup for the Dairy Margin Coverage program.
NMPF said participation declined in 2020 because of forecasts for higher prices that have been radically revised due to the coronavirus.