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Surplus Dairy Stocks Rise As Markets Lag
Washington, March 8. Government price supports for dairy products have created large surplus stocks including non fat dry milk solids, butter and cheese. As of mid February, purchases totaled 118 million dollars with unsold stocks valued at 94.3 million. Stocks span from New York to Minnesota, stored in cold and dry warehouses. Prices paid to processors keep farmer milk payments near 78 percent of parity, while demand remains limited domestically and abroad. European hope of reserves and oleomargarine repeal could raise future purchases.
MENTIONED IN THIS ARTICLE
Peter Edson
NEA
Washington
Upper
Wisconsin
Steagall
Hope-Aiken
Department of Agriculture
New York
Minnesota
Congress