Elsie the Cow’s glory days may be behind her. Borden Dairy Company owns that mascot and said Sunday it was filing for bankruptcy.
The price of raw milk is going up, but grocery store prices are falling. Plus, cow’s milk is facing increasing competition from drinks made from oats, nuts, even bananas.
According to the National Milk Producers Federation, only 20% of the milk produced in the U.S. is consumed as milk, and that’s the segment that suffering. Other milk products, like cheese and yogurt, are doing better.
Borden’s bigger rival Dean Foods also got bankruptcy protection late last year. The ongoing trade war has put added strain on the dairy industry.
Stories You Might Like
There’s a lot happening in the world. Through it all, Marketplace is here for you.
You rely on Marketplace to break down the world’s events and tell you how it affects you in a fact-based, approachable way. We rely on your financial support to keep making that possible.
Your donation today powers the independent journalism that you rely on. For just $5/month, you can help sustain Marketplace so we can keep reporting on the things that matter to you.
