CWT Assists with 4.8 Million Pounds of Cheese and Butter Export Sales

CWT Assists with 4.8 Million Pounds of Cheese and Butter Export Sales

Cooperatives Working Together Last week, Cooperatives Working Together (CWT) accepted 13 requests for export assistance from Bongards, Dairy Farmers of America, Darigold, Maryland & Virginia Milk Producers Cooperative and United Dairymen of Arizona to sell a total of 1,511 metric tons (3.331 million pounds) of Cheddar cheese and 686 metric tons (1.512 million pounds) of butter to customers in Asia, Central America and the Middle East. The product will be delivered July through December 2012.

In 2012, CWT has assisted member cooperatives in making export sales of Cheddar, Monterey Jack and Gouda cheese totaling 60.0 million pounds, and butter and anhydrous milk fat (AMF) totaling 45.2 million pounds, to 32 countries on four continents. The butter and AMF total was adjusted due to cancellations. On a butterfat basis, the milk equivalent of these exports was 1.539 billion pounds, or the same as the annual milk production of 73,200 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.

6.14.2012