It’s a problem no country should have to face alone.
With cheese imports at an all-time high and domestic production on the rise, cheese and butter inventories in the U.S. reached their highest levels in 30 years at the end of March, reports Bloomberg.
Currently, the U.S. is sitting on a 1.2 billion pound stockpile of cheese-- more than half of which is American-produced. Swiss accounts for about 2 percent, and the rest the government classifies as "other."
Due to the weakened Euro and cheaper dairy prices, U.S. markets have been snapping up cheaper cheese and butter from overseas. But American dairy farmers have also been especially prolific, according to the USDA.
That surplus in milk products has led to rock bottom prices on all types of cheese.
"It's been difficult for them to export, given the strong dollar, and they're sucking in imports," Kevin Bellamy, a global dairy market strategist at Rabobank International in Utrecht, the Netherlands, told Bloomberg. “Where the U.S. has lost out on business, Europe has gained.”
European dairy farmers have reportedly been warning that low prices on cheese, milk and butter could put them out of business.
So the surplus may not be great news for those in the business of making cheese, it’s great for cheese-loving consumers looking for a deal on dairy now.