Cooperatives Working Together announced a plan yesterday to buy an unspecified number of dairy cows in an attempt to stem the slump in milk prices, which have declined nearly 40 percent from record highs last June. A sharp decline in exports and reduced domestic demand during the current economic recession have contributed to the fall in milk prices.

CWT’s buyout plan was announced the same day that USDA said it will give $150 million to dairy farmers hurt by low prices. CWT has set no target for volume of milk or number of cows to be removed. The buyout ends May 1.

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