CWT Assists with 3.0 Million Pounds of Cheese and Butter Export Sales

CWT Assists with 3.0 Million Pounds of Cheese and Butter Export Sales

Cooperatives Working Together (CWT) has accepted seven requests for export assistance from Dairy Farmers of America, Darigold and Upstate Niagara Cooperative to sell 2.798 million pounds (1,269 metric tons) of Cheddar and Monterey Jack cheese and 302,033 pounds (137 metric tons) of butter to customers in Asia, Central America and the Middle East. The product will be delivered October 2012 through March 2013.
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In 2012, CWT has assisted member cooperatives in making export sales of Cheddar, Monterey Jack and Gouda cheese totaling 99.7 million pounds, butter totaling 58.4 million pounds (adjusted for reductions) and anhydrous milk fat totaling 127,868 pounds. The product will be shipped to 34 countries on four continents. On a butterfat basis, the milk equivalent of these exports is 2.197 billion pounds, or the same as the annual milk production of 104,600 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.

10.16.2012