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Borden Milk files for bankruptcy
Posted on 1/6/20 at 8:51 am
Posted on 1/6/20 at 8:51 am
Borden Dairy Co. filed for bankruptcy, becoming the second major U.S. milk seller to do so in two months as competitive pressures, declining consumption and falling profits made its debt load unsustainable.
Bloomberg
Known for its mascot Elsie the Cow, the Dallas-based company listed assets and liabilities of between $100 million and $500 million in its Chapter 11 filing in Delaware. The company, founded more than 160 years ago, said in a statement that normal operations will continue while it works out a recovery plan.
“While milk remains a household item in the United States, people are simply drinking less of it,” Monaco said. “In parallel, since the turn of the century, the number of U.S. dairy farms has rapidly declined.”
That’s choking supply, with the price of raw milk up 27% since January 2019 and expected to rise more, even as retail prices and margins are dropping, court papers show. The same trends helped drive Borden’s larger rival, Dean Foods Co., to file for bankruptcy on Nov. 12.
I know our milk consumption has dropped in our household
Bloomberg
Known for its mascot Elsie the Cow, the Dallas-based company listed assets and liabilities of between $100 million and $500 million in its Chapter 11 filing in Delaware. The company, founded more than 160 years ago, said in a statement that normal operations will continue while it works out a recovery plan.
“While milk remains a household item in the United States, people are simply drinking less of it,” Monaco said. “In parallel, since the turn of the century, the number of U.S. dairy farms has rapidly declined.”
That’s choking supply, with the price of raw milk up 27% since January 2019 and expected to rise more, even as retail prices and margins are dropping, court papers show. The same trends helped drive Borden’s larger rival, Dean Foods Co., to file for bankruptcy on Nov. 12.
I know our milk consumption has dropped in our household
This post was edited on 1/6/20 at 8:51 am
57
Posted on 1/6/20 at 8:52 am to Tigeralum2008
I remember years ago they had that facility on Florida blvd
Posted on 1/6/20 at 8:53 am to Tigeralum2008
If it wasn't for cereal we probably wouldn't get milk that often. I like a small glass with my eggs, but don't drink as much as I used to
Posted on 1/6/20 at 8:53 am to Tigeralum2008
And Duke and Duke just cornered the frozen concentrated orange juice market last week too.
Posted on 1/6/20 at 8:53 am to Tigeralum2008
quote:
“While milk remains a household item in the United States, people are simply drinking less of it,” Monaco said. “In parallel, since the turn of the century, the number of U.S. dairy farms has rapidly declined.”
But I was told it was the Trump tariffs...
Posted on 1/6/20 at 8:54 am to Gorilla Ball
Meanwhile see Cokes market share of milk over last three years
Posted on 1/6/20 at 8:54 am to Napoleon
I like their French onion dip.
Posted on 1/6/20 at 8:55 am to Tigeralum2008
We still drink about a gallon per week in our house.
Posted on 1/6/20 at 8:55 am to Tigeralum2008
We drink at least two gallons of milk a week on our house. It can be very expensive (Kleinpeter charges almost $7/gallon vs generic is about 4$). Its almost worth it to treck to Costco and get it for $2.50/gal.
Posted on 1/6/20 at 8:56 am to Tigeralum2008
Yeah, the dairy industry is not a good industry to be in right now. I've read numerous articles over the past couple of years about how so many dairy farms are struggling to survive. I know one decent sized one in Alabama is switching their operations to beef cattle.
We definitely do not drink much milk in our house, but do consume a good amount of other dairy products. Butter, cream, cheese, etc.
We definitely do not drink much milk in our house, but do consume a good amount of other dairy products. Butter, cream, cheese, etc.
Posted on 1/6/20 at 8:56 am to Napoleon
peanut butter sandwich
Oreo cookies
pumpkin pie
all require a glass of milk.
Oreo cookies
pumpkin pie
all require a glass of milk.
Posted on 1/6/20 at 8:56 am to Napoleon
quote:
If it wasn't for cereal we probably wouldn't get milk that often. I like a small glass with my eggs, but don't drink as much as I used to
Yep, cereal and used in cooking. That's it.
I used to as a kid drink milk and chocolate milk etc. but not something I'll likely carry forward in my household
Posted on 1/6/20 at 8:57 am to Tigeralum2008
We go through a lot of milk with a toddler in the house.
An occasional glass of cold whole milk with a PBJ is hard to beat.
An occasional glass of cold whole milk with a PBJ is hard to beat.
Posted on 1/6/20 at 8:58 am to Tigeralum2008
Posted on 1/6/20 at 8:58 am to Tigeralum2008
I eat a lot less cereal than I used to. Other than that, it's about the same.
Is this all dairy, or just milk? Because cheese and ice cream are regular items in our grocery cart.
Is this all dairy, or just milk? Because cheese and ice cream are regular items in our grocery cart.
Posted on 1/6/20 at 8:58 am to tigerinthebueche
Milk is for pussies.
Posted on 1/6/20 at 8:59 am to In The Know
3 half gallons of their organic milk. Last long enough for my 3 year old to drink it all.
This post was edited on 1/6/20 at 9:00 am
Posted on 1/6/20 at 9:00 am to Tigeralum2008
quote:Holy cow!
Borden Milk files for bankruptcy
Posted on 1/6/20 at 9:00 am to BRgetthenet
you must drink a shitload then.
Posted on 1/6/20 at 9:01 am to Tigeralum2008
Scruffy buys that hyper-pasteurized milk that stays good for over a month.
We don’t go through milk very quickly in our household.
Not a fan of that almond or other milk though. Stuff doesn’t taste right.
We don’t go through milk very quickly in our household.
Not a fan of that almond or other milk though. Stuff doesn’t taste right.
This post was edited on 1/6/20 at 9:03 am
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