The two largest milk companies in the U.S. have declared bankruptcy within 60 days of each other. Spencer McGowan of McGowan Group Asset Management says it's a sign of the times. "I think the trend has definitely changed. And the assumption that milk is one of the vital foods certainly has been preempted." McGowan said that both Texas-based companies, Borden and Dean Foods, stated rising prices of both raw milk and trucking delivery services as additional reasons for the filings. "The brand names that are up and coming including, Silk and White Wave, have taken so much of their market share. And these two giants each had too much debt."
McGowan assures us, "You'll still see Elsie in your grocer's dairy case."