Milk Collapse Brings a 45% Pay Cut to England's Dairy Farmers
- Income will be the lowest in 9 years during 2015-16 season
- Producers have kept expanding output in face of crisis
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England’s dairy farmers will see income fall by almost half this year, evidence that the global milk crisis is far from over.
Earnings will average 46,500 pounds ($66,500) per farm in England for the 2015-16 season that started in March, the Department for Environment, Food & Rural Affairs said in a report Thursday. That figure, which includes European Union aid payments, is 45 percent below the prior season and the lowest in 9 years.