Let’s do this right!
By Michael Marsh, CEO, Western United Dairymen - - During the Great Recession of 2008-2010, nearly 2 billion dollars in federal and industry funds were spent trying to stem the tide of red ink hemorrhaging from US dairy farms. According to the Congressional Budget Office (CBO), total federal outlays on dairy unleashed during those three years amounted to just over $1.5 billion. Funds were expended under the Dairy Product Price Support Program, the Milk Income Loss Contract program, and the Dairy Export Incentive Program, as well as dairy donations to feeding programs around the country. Additionally, Cooperatives Working Together (CWT), operated by National Milk Producers Federation, pumped out additional monies for herd retirements and export assistance in excess of $250 million. <more> Aug. 5, 2011 WUD Friday Update