What’s behind the milk glut?

Milk prices are falling, much to the detriment of dairy farmers. There’s a glut of milk on the market, say officials. So is demand for milk falling or are dairy farmers simply producing too much? Neither says Grist’s Jim Goodman. Full story

Milk prices, like the rest of the world economy, crashed because of a globalized, unregulated free market system, not because of surplus product. According to New York dairy farmer/market analyst John Bunting “dairy markets are run by an oligarchy—a few elite players—with little or no government oversight”. The parallels between the current dairy price crash and the Wall Street financial crash are pointedly exact.

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