“Borden Dairy Co., one of America’s oldest and largest dairy companies, on Monday [Jan. 6, 2020] became the second major milk producer to file for bankruptcy in the last two months.
Tumbling milk consumption combined with the rising price of milk have crippled the dairy industry with debt. Dean Foods, America’s largest milk producer, filed for bankruptcy November 12 [2019]…
The company said it also has been hurt by broader industry trends, including a 6% drop in overall US milk consumption since 2015. Borden noted that more than 2,700 family dairy farms went out of business last year, and 94,000 have stopped producing milk since 1992.”