Ever heard of the advertising campaign “Got Milk?” You may be too young to recognize this ad campaign, but it was created in 1993 to encourage people to drink … you guessed it … milk! And boy did it work! Milk consumption increased with the help of commercials that made people realize the importance of milk. After all, how can someone consume a cookie without washing it down with a nice cold glass of milk, right? Yes, milk became a very popular drink not only because it was endorsed by celebrities (who sported milk mustaches in print ads), but also because of its health benefits. Fast forward two decades and what was once the dominant dairy drink in the refrigerated section of the supermarket is now sharing space with milk alternatives such as almond and soy milk. As more and more consumers clamber for milk alternatives, large dairy farms are feeling the pain. In the last few months, two major dairy producers, Dean Foods and Borden Dairy, filed for bankruptcy protection, attributing soaring raw milk prices and competition for customers as reasons for their troubles. How are these two companies hoping to get out of bankruptcy? Dean Foods is selling parts of its business, and Borden Dairy is reorganizing its business and finances. Milk: It does a body good, but it looks like other drinks do too.
January 14, 2020