Cooperatives Working Together (CWT) has accepted seven requests for export assistance from Dairy Farmers of America, Darigold, Land O’Lakes and United Dairymen of Arizona to sell a total of 10.018 million pounds (4,544 metric tons) of butter and Cheddar cheese to customers in Asia, North Africa 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 66.6 million pounds, and butter and anhydrous milk fat totaling 54.8 million pounds, to 32 countries on four continents. On a butterfat basis, the milk equivalent of these exports is 1.812 billion pounds, or the same as the annual milk production of 86,200 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, CWTâ€™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.
Source: CWT Press Release