Dairy farmers in the United States made a big bet on global demand for their milk, but it hasn’t panned out. Today, The U.S. has more than 800 million pounds of American cheese in reserve, the most since 1984. The amount of butter in reserve totals 272 million pounds, the most since 1994. Some farmers are even dumping excess milk into their fields where nearly 78 million gallons of milk have been dumped so far this year, up 86% from the same period last year.-MarketWatch, May 18, 2017
