The Cooperatives Working Together (CWT) program has been renewed for another year through June 2005.
With an estimated return of nearly 60 cents per hundredweight during the first year of operations, NMPF has been working to build support for a second year. With commitments for participation from dairymen producing over 68 percent of the nation’s milk, the NMPF board of directors voted today to renew the program for a second year.
"When we first developed the concept of CWT one year ago, we heard from many dairy producers that they wanted more than just a quick fix – they wanted a methodical, sustainable means of aligning supply and demand. The decision to go forward with CWT is evidence that America’s dairy farmers see the long-term value in helping to control the economic destiny of this industry," said Jerry Kozak, President and CEO of the National Milk Producers Federation.
CWT will again be funded by a 5-cent per hundredweight assessment on producers, either through their membership in a participating cooperative, or through their individual participation in CWT. The funds raised by this assessment will again be used to finance programs to reduce the supply of milk in the domestic market by approximately 1.2 billion pounds.
In addition, CWT will again conduct a herd retirement program and the export assistance bid program. The reduced production marketings program was not renewed.
For more information, visit: www.cwt.coop.