Another milk producer has gone dry amid rising costs and slumping consumption. Officials at Borden Dairy Company, a 163-year-old company in Texas, say they’re facing too much competition from alternatives like nut-based milk. Compounding the issue is the rapidly disappearing dairy farm causing the cost of raw cow milk to climb 30% in the last year alone, CBS News reports. Borden Dairy is the second large milk producer recently to file for Chapter 11 bankruptcy. It follows filing in November by the US’s biggest milk producer, Dean Foods, which is in the middle of discussions with Dairy Farmers of America regarding its sale.
Borden Dairy Co., one of America's oldest and largest dairy companies, on Monday became the second major milk producer to file for bankruptcy in the last two months. https://t.co/WrVc8Az6WB
— CNN (@CNN) January 6, 2020