(© Flickr Creative Commons Randen Pederson)
Joaquin Contente was one of 25,162 U.S. dairy farmers who had faith that a new federal safety net would protect them from a repeat of the battering they had taken in 2009, when markets collapsed during the global recession and milk prices sank far below the cost of production.
But they found out the hard way that their faith was misplaced when global dairy markets collapsed again in 2015 and 2016.
“I had some hope that it would work at some point. … It was a miserable failure,” said Contente, who milks 800 cows in Hanford, Calif…………