Some people believe that 2009 was the worst year in the dairy business since the Great Depression. Farm Credit says it was the worst in at least 31 years.
“2009 was a landmark year in the dairy industry, but not landmark in a good way. It was a year of record losses,” Farm Credit executive vice president Jim Putnam is quoted as saying in The Daily News, of Batavia, N.Y.
The 544 Northeast farms studied by Farm Credit lost an average of $386 per cow.
It was the worst performance since Farm Credit began tracking these things 31 years ago.
Source: The Daily News, Batavia, N.Y.