CWT Assists with 7.5 Million Pounds of Dairy Exports
Source: Cooperatives Working Together
Cooperatives Working Together (CWT) has accepted 12 requests for export assistance from Dairy Farmers of America, Darigold, Land O’Lakes, and United Dairymen of Arizona to sell 2.090 million pounds (948 metric tons) of Cheddar and Monterey Jack cheese and 5.463 million pounds (2,478 metric tons) of butter to customers in Asia, the Middle East, and North Africa. The product will be delivered November 2012 through May 2013.
In 2012, CWT has assisted member cooperatives in making export sales of Cheddar, Monterey Jack, and Gouda cheese totaling 108.4 million pounds, butter totaling 66.7 million pounds, anhydrous milk fat totaling 127,868 pounds, and whole milk powder totaling 85,980 pounds. The product will be delivered to 36 countries on four continents. On a butterfat basis, the milk equivalent of these exports is 2.458 billion pounds, or the same as 68% of the increase in U.S. milk production through September 2012.
Assisting CWT members through the Export Assistance program positively impacts producer milk prices in the short-term by helping to maintain inventories of cheese and butter at desirable levels. 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, visitwww.cwt.coop.
