The expected seasonal drop in dairy prices that typically begins in October came all at once in December. The block cheese market dropped 75 cents per pound to close at a five-and-a-half-year low of $1.04 on Jan. 8. That’s 9 cents per pound below government price-support levels. It’s hard to fathom that the U.S. Department of Agriculture will once again be spending taxpayer money to support dairy prices, especially given all the commotion last year surrounding sky-high milk prices and ...

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