Hope is returning to the battered dairy industry, as the price of milk begins to rebound around the country. Last year, the price of milk was as much as $7 below the cost of producing it. Shelly Mayer farms with her husband just south of Slinger, Wis. She says many producers had to take out huge loans last year to cover their losses.
“It’s going to take the dairy industry and dairy producers, my own business, it’ll take me years to get back on our balance sheet where I was prior to 2009. That’s the dairy business. You took on more debt, and you just do what you have to do to keep your business going because once you’re out of the dairy business, it’s very hard to get back in,” Mayer says.
Now, milk sales appear to be rebounding as U.S. sales improve and the export market recovers. For more on dairy ups and downs, WUWM’s Erin Toner spoke with Bob Cropp, a dairy economist at UW-Madison.
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