Jack Gourley can remember another, easier time, before a wrenching recession stripped him and countless others of their financial security.
A time when people wanted his milk, when international demand for dairy products soared and people spent their paychecks on meals out — buying the cheeseburgers and pizzas that keep dairy farms like this one in business.
In 2007 and early 2008, many dairy farmers were riding a wave of high bulk-milk prices.
But the sense of security turned to dust as the market dried up. The economy crashed, U.S. milk production began to outpace consumption, bulk milk prices plunged to levels they were at 18 years earlier, and farmers were left with too many cows and too much milk. A spike in the price of fuel and feed only compounded the problem.
Now, many farmers aren’t even making what it costs them to produce the milk they sell. Read More
Have no worry, Obama can turn a speech into milk and honey! These farmers are going to have a rough time ahead, their cattle feed (corn) being turn into fuel createing a shortage, and if they have to provide health care insurance for their farm hands along with the last Democrats fed wage increase, how will they stay in business?