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Article: Cheese Exchange leaving Green Bay after controversy over price- setting; Official blames `hostile legislation' by Wisconsin Legislature for decision to move to Chicago Mercantile Exchange in May.(BUSINESS)
- Article from:
- Star Tribune (Minneapolis, MN)
- Article date:
- April 15, 1997
- Author:
CopyrightCOPYRIGHT 1997 Star Tribune Co. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The National Cheese Exchange in Green Bay, Wis., will close at the end of the month. Cheese trading will move to the Chicago Mercantile Exchange in May.
Some dairy farmers long have alleged that the cheese exchange has been manipulated by cheese manufacturers to drive down milk prices. But Richard Gould, president of the exchange, said the move was a response to what he called "hostile legislation" passed by the Wisconsin Legislature.
The price of cheese on the exchange is a factor in the formula used by the U.S. Department of Agriculture (USDA) to set the floor price for milk. The Wisconsin bill, passed by the state Senate, would prohibit traders from ...