[Ed. – Not making this up. It doesn’t appear that Mx. Weissmann is either.]
U.S. dairies have been losing sales to competition from Europe, where an oversupply of milk has driven down the price of cheese and butter and a falling euro has made exports more competitive. (Imagine what Donald Trump would have done with this news before the Wisconsin primary.) As a result, more American product is piling up in warehouses—about 122 million additional pounds found their way into cold storage last year, according to the USDA. As Bloomberg recently put it, we’re “sitting on a mountain of cheese.”
Unfortunately, most of that increase last year—91 million pounds of it!—was American cheese, our national supplies of which increased by about 14 percent. Our stocks of Swiss barely budged, while supplies of all other cheeses in storage jumped by about 7 percent, or 31 million pounds.