US to Buy 11 Million pounds of cheese, worth $20 Million dollars to boost dairy prices
The U.S. Department of Agriculture plans to buy $20 million of stockpiled cheese to distribute to food banks and pantries nationwide in an attempt to stem farmer losses after dairy prices plummeted amid a global milk glut earlier this year.
The purchase of about 11 million pounds of cheese, which the USDA reported Tuesday in a statement, comes in addition to $11.2 million in subsidies for dairy producers announced earlier this month. A dairy lobbying group had asked for as much $150 million in cheese purchases. – READ MORE