A taxpayer-funded program to help dairy farmers cope with slumping milk prices will likely cost billions of dollars more than expected, from an original cost of $1.3 billion to a new estimate of as much as $4 billion, a federal official said last month.
Dairy industry representatives are taking aim at European dairy subsidies, lobbying Congress to push for a crackdown on these subsidies in the continuing round of World Trade Organization (WTO) talks on agriculture.
Despite a 10% increase in profits, Dean Foods Co. saw its stock prices dip a bit last month after its second quarter report indicated that sales were down from last year's second quarter.