Cooperatives Working Together (CWT) accepted three bids from Foremost Farms of Baraboo, Wis., and two bids Dairy Farmers of America of Kansas City, Mo., for export assistance for a total of 3.5 million pounds (1,571 metric tons) of Cheddar cheese to the Middle East, Europe, and Australia. The product will be delivered between April and July.
Since CWT reactivated the Export Assistance program on March 18, it has assisted members in making export sales of cheddar cheese totaling 5.6 million pounds (2,530 metric tons) to five countries on three continents, including this week’s accepted bids.
The Export Assistance program was reactivated when economic analysis indicated that sizeable cheddar cheese inventories overhanging the market are hampering a recovery in producer milk prices. Assisting CWT members in exporting cheddar cheese will provide the most immediate way to positively impact producer milk prices.
CWT will pay export bonuses to the bidders only when delivery of the product is verified by the submission of the required documentation.

More information.

Source: Cooperatives Working Together