Jack Holland Quoted in The Deal LLC

AGG Partner Jack K. Holland is quoted in an article in The Deal LLC titled “Bearish Times for Bovines.” Approximately 50 diary farms across the nation have filed for bankruptcy protection in the past six months due to low milk demand, high operational costs and difficult funding situations. Mr. Holland says that the chief factor is the price of milk. Milk prices are lower than they have been in years, combined with the highest feed costs. Another factor making the situation even stickier is that some of the lenders to the dairy industry have failed and been taken over by the Federal Deposit Insurance Corporation, a circumstance that Mr. Holland says has had two effects on dairy farmers. The dairies have not only lost their financing, but also have been faced with unreasonable conditions that they can’t meet from investment groups who bought the loans from the banks that failed. The dairies are filing for bankruptcy protection to protect themselves. For more information about The Deal LLC, please click here (subscription required to view full article).