News – April 24, 2016

Wisconsin Dairy Seeking Federal Help

 

4/24/16 – One of Wisconsin’s best known dairies is seeking federal help to have Canada continue importing ultra-filtered milk from the U-S. Grassland Dairy Products of Greenwood says Canada is making plans to halt the imports — and it might reduce Wisconsin’s dairy exports by about $100-million dollars per year. The ultra-flavored milk is a liquid protein concentrate that helps produce cheese, and Canadian dairy farmers have objected to the product’s duty-free status as it enters America’s northern neighbor. Grassland executives have expressed concerns in a letter to U-S Agriculture Secretary Tom Vilsack. They say the milk that’s used to make the concentrate helps keep 700 Wisconsin dairy farms in business — in addition to the Grassland plant which is best known worldwide for its butter products.

 

Wisconsin Bank Reports Rough First Quarter

 

4/24/16 – The largest bank that’s based in Wisconsin reports an eleven percent drop in its quarterly profits. The parent firm of Green Bay’s Associated Bank says it added $20-million dollars to its reserves to cover losses from possible bad loans to firms in the oil and gas industry, which has been affected by cuts in market prices. The extra reserve money cut into Associated’s earnings, and the firm reports a net income of $40-million dollars from January through March — down from $45-million in the same quarter of last year with a drop in earnings from 30 cents per share to 27 cents. C-E-O Philip Flynn says the bank would have had a strong quarter if it was not for the oil and gas loan concerns. Associated’s total loans rose by one-billion dollars during the quarter, to a total of around $19-billion.