The United States is sitting on a glut of cheese (about 1.2 billion pounds in stock, per the USDA). This, according to a Bloomberg report, is the result of circumstances in the European Union—a surplus of milk, plunging prices, and a weakening Euro. The United States, thanks to a strengthening dollar, has increased its imports of European dairy both this year and last, even at a time when the U.S. dairy industry is on pace for record output.
