CWT Assists with 5.3 Million Pounds of Butter and Cheese Export Sales
Cooperatives Working Together (CWT) has accepted 15 requests for export assistance from Dairy Farmers of America, Darigold, Maryland & Virginia Milk Producers Cooperative, Michigan Milk Producers Association and United Dairymen of Arizona to sell a total of 1,710 metric tons (3.770 million pounds) of Cheddar and Monterey Jack cheese and 678 metric tons (1.495 million pounds) of butter to customers in Asia, 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 34.2 million pounds and butter totaling 30.3 million pounds to 18 countries on four continents. On a butterfat basis, the milk equivalent of these exports is 977 million pounds, or the annual production of approximately 46,520 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.