America has too much cheese — 3 extra pounds for each man, woman, and child
Thanks to a confluence of ramped-up dairy production, the strong U.S. dollar, and decreasing global demand, America is experiencing a glut of cheese so big it works out to three extra pounds for each person in the U.S., The Wall Street Journal reports. There is actually an excess supply of many agricultural commodities, including beef, poultry, pork, corn, and wheat, but the amount of cheese being warehoused in cold storage to wait out the tidal wave of dairy is at a record high.
The cheese glut started with dairy farmers, who expanded production when prices for milk and cheese were high a few years ago. This year, they are expected to produce a record 212.4 billion pounds of milk, and since cheese stores better than milk, they are funneling much of the excess to cheese makers, who now have a record 1.19 billion pounds of cheese in commercial cold storage. There's no easy fix for farmers. Prices are so low no dairies are making money, Michigan dairy owner Carla Wardin tells The Wall Street Journal. Still, for dairy farmers, "you do the exact same thing ... You milk more cows."
This is good news for the cold storage industry, and for cheese lovers. Retail cheese prices are already down 4.3 percent from a year earlier, and they fell to a six-year low of $1.27 a pound at the Chicago Mercantile Exchange last week, The Journal reports. Americans typically eat 36 pounds of cheese a year, but "someone is going to eat all of this meat and dairy," said USDA livestock analyst Shayle Shagam. "How much room do you have in your stomach?" You can read more about the cheese glut at The Wall Street Journal.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Peter has worked as a news and culture writer and editor at The Week since the site's launch in 2008. He covers politics, world affairs, religion and cultural currents. His journalism career began as a copy editor at a financial newswire and has included editorial positions at The New York Times Magazine, Facts on File, and Oregon State University.
-
The history of Donald Trump's election conspiracy theories
The Explainer How the 2024 Republican nominee has consistently stoked baseless fears of a stolen election
By David Faris Published
-
Two ancient cities have been discovered along the Silk Road
Under the radar The discovery changed what was known about the old trade route
By Devika Rao, The Week US Published
-
'People shouldn't have to share the road with impaired drivers'
Instant Opinion Opinion, comment and editorials of the day
By Justin Klawans, The Week US Published
-
US economy still strong in final preelection report
Speed Read It grew at a solid 2.8% annual rate from July through September
By Peter Weber, The Week US Published
-
Boeing machinists reject deal, continue strike
Speed Read The rejection came the same day Boeing reported a $6.2 billion quarterly loss
By Peter Weber, The Week US Published
-
Ports reopen after dockworkers halt strike
Speed Read The 36 ports that closed this week, from Maine to Texas, will start reopening today
By Peter Weber, The Week US Published
-
Empty-nest boomers aren't selling their big homes
Speed Read Most Americans 60 and older do not intend to move, according to a recent survey
By Peter Weber, The Week US Published
-
Brazil accuses Musk of 'disinformation campaign'
Speed Read A Brazilian Supreme Court judge has opened an inquiry into Elon Musk and X
By Rafi Schwartz, The Week US Published
-
Disney board fends off Peltz infiltration bid
Speed Read Disney CEO Bob Iger has defeated activist investor Nelson Peltz in a contentious proxy battle
By Rafi Schwartz, The Week US Published
-
Disney and DeSantis reach detente
Speed Read The Florida governor and Disney settle a yearslong litigation over control of the tourism district
By Peter Weber, The Week US Published
-
Visa and Mastercard agree to lower swipe fees
Speed Read The companies will cap the fees they charge businesses when customers use their credit cards
By Peter Weber, The Week US Published