The US government is buying 11 million pounds of cheese because no one else will
""There is way too much cheese in America, so the US Department of Agriculture is buying a massive amount of it.
According to a release from the USDA, it will buy 11 million pounds — worth roughly $20 million by its estimate — and distribute it to food banks around the country."""
The US cheese market has had a significant oversupply problem for most of the year because foreign buyers have looked elsewhere for their dairy products as a result of the strong dollar. Before this slowdown in exports, many farmers had ramped up their production because of record-high prices."""This situation presents another opportunity to "go to the graphs" to explain what is going on in the Market for Cheese.