CWT Assists with 4.7 Million Pounds of Export Dairy Sales
Source: Cooperatives Working Together
Cooperatives Working Together (CWT) has accepted 13 requests for export assistance from Dairy Farmers of America, Darigold, and United Dairymen of Arizona to sell a total of 1,288 metric tons (2.840 million pounds) of Cheddar cheese and 855 metric tons (1.884 million pounds) of butter to customers in Asia, Central America, the Middle East, and Africa. The product will be delivered March through September 2012.
In 2012, CWT has assisted member cooperatives in making export sales of Cheddar, Monterey Jack and Gouda cheese totaling 37.0 million pounds and butter totaling 32.2 million pounds to 19 countries on four continents. On a butterfat basis, the milk equivalent of these exports is 1.044 billion pounds. Those CWT-assisted exports will utilize the equivalent of nearly 60% of the 1.780 billion pounds of increased milk production through February 2012.
Assisting CWT members through the Export Assistance program positively impacts producer milk prices in the short-term by reducing inventories that overhang the market and depress cheese and butter prices. In the long-term, CWT’s Export Assistance program helps member cooperatives gain and maintain market share, thus expanding the demand for U.S. dairy products and the farm milk that produces them.
CWT will pay export bonuses to the bidders only when delivery of the product is verified by the submission of the required documentation.
The Cooperatives Working Together (CWT) Export Assistance program is funded by voluntary contributions from dairy cooperatives and individual dairy farmers. The money raised by their investment is being used to strengthen and stabilize the dairy farmers’ milk prices and margins. For more information about CWT, visit www.cwt.coop.
