Borden Dairy Co. filed for bankruptcy protection, the second major U.S. dairy to do so in two months. Borden produces nearly 500 million gallons of milk each year for groceries, schools and others. As milk consumption has fallen, dairy farms have closed their doors. In court filings, Borden says 2,730 U.S. dairy farms have gone out of business in the last 18 months alone. The two companies controlled about 13.5% of U.S. milk sales last year, according to Euromonitor, a consulting firm.

Source: Los Angeles Times January 06, 2020 21:11 UTC