Cooperatives Working Together (CWT) has accepted five requests for export assistance from Dairy Farmers of America, Darigold, Foremost Farms and Maryland & Virginia Milk Producers Cooperative to sell a total of 371 metric tons (0.818 million pounds) of Cheddar and Monterey Jack cheese and 500 metric tons (1.102 million pounds) of butter to customers in Asia and the Middle East. The product will be delivered April through July 2012.
In 2012, CWT has assisted member cooperatives in making export sales of Cheddar, Monterey Jack and Gouda cheese totaling 37.8 million pounds and butter totaling 33.3 million pounds to 19 countries on four continents. On a butterfat basis, the milk equivalent of these exports is 1.076 billion pounds. That is equivalent to the annual milk production of 51,000 cows.
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.