Borden Dairy Co. filed for bankruptcy late Sunday, becoming the second major U.S. milk producer to do so in recent months as rising milk prices and other challenges made its debt load unsustainable.
The Dallas-based company listed assets and liabilities of between $100 million and $500 million in its Chapter 11 filing in Delaware. The company, founded more than 160 years ago, said in a statement that operations will continue as normal during the reorganization.
The bankruptcy filing comes less than two months after larger rival Dean Foods Co. filed for Chapter 11 in Houston. Conventional milk producers have struggled amid rising milk prices and competition from almond, rice and soy milk.
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21 comments:
you would think an article written in the "finance" section would provide more clarity about how rising milk prices are bad for a milk producer.
Times, they are a changing.
Soy milk and almond milk is out performing in double digits. Look at your investment portfolio. Green is pushing soy burgers now. All media platforms push milk alternatives.
'Rising milk prices' would slow sales.. reduce revenue.
Add to that the claims that real milk is bad for you.
But milk has had government price support for years, so I'm not sure what the deal is here.
Maybe because they buy their milk from producers whom are raising their prices to keep up with higher costs related to raising cows? I dunno. Just a thought.
820 I can tell you are successful and great comment.
The milk industry is controlled by the feds through Federal Milk Marketing Orders. Nobody can buy or sell raw milk without government consent and it has to be at the price set by the feds. You think I'm kidding, don't you. Well, look it up!
Federal Marketing orders also control mohair, hops and a few other weird things. Most people do not realize that anything the government touches gets screwed up.
8:20 welcome to the capitalist market you so passionately defend until the time comes where it doesn't serve your interest.
8:59, Hey, Idiot. We all are well aware of what capitalism is. 8:20 sounds sucessful. You sound like a pathetic socialist troll. Where is your defense of Venezuela? How's that working out? Moron!
Milk is not that great for you. People are paying attention to their health more. Let the market work itself out and keep the government out of it.
As stated in a previous comment it is not a true capitalist product, it is controlled by the government who set milk prices. We produce so much milk it is actually thrown out. As with anything the government is involved in it eventually fails! Next will come the government bailout. Just let the market run on supply and demand and the market will set its own price.
They only speak here of actual milk, but it's really all milk products, including cheese, cottage cheese, yogurt, etc.
Just a quick glance at the title I thought it said Biden and Milk, meaning he was grabbing you know what on women!
I order my milk on amazon, comes from China via amazon, less contaminants than domestic milk.
Milk is the perfect food for a baby cow
Milk is poison for humans
Wake up. You are being lied to about the entire dairy industry!
2:52 Milk is not poison for humans. I've been drinking milk for 64 years and I'm still very healthy. Some people believe anything they read. Go back to sleep.
PETA is doing its best to stop people from consuming anything to do with animals.Read about billionaire Lucas fighting them where they want to stop beef production and consumption.
433
Sorry for your lack of knowledge.
The other guy has it right.
All controlled from Langley lol
More and more doctors and nutritionists are telling patients to give up dairy and red meat, among other foods. Our bodies cannot process the GMOs and chemicals in the food they feed cattle. The growth hormones given to calves ended up in our milk supply. Just look at how tall our kids grew and how early our daughters matured, compared to baby boomers who grew up in the 1950s and 60s.
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Stop telling people about the CIA affect on media.
They are going to get after you soon.
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