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Really, America has a cheese glut

Reuters/Lucy Nicholson
And there’s only one way out.
By Matt Phillips
Published Last updated This article is more than 2 years old.

US dairy farmers boosted production in recent years amid soaring global dairy prices. But now, a persistently strong dollar has hammered US dairy exports. The result? An America awash in relatively cheap cheese.

US commercial cold-storage stockpiles of cheese rose to 1.19 billion pounds in March, the last month for which data is available.

Things don’t look like they will turn around any time soon. In a chat with analysts earlier this month, the CEO of Dean Foods, the largest US dairy company, said “US butter and cheese prices remaining uncompetitive versus the international market. We continue to see a decline in overall U.S. dairy exports.”

In other words, America will have to go it alone as it attempts to whittle down its massive cheese hoard. And there’s only one way out. You know what to do.

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