Source: CWT news release
Cooperatives Working Together (CWT) accepted three bids from Dairy Farmers of America and three bids from Land O’Lakes for a total of 644 metric tons (1.4 million pounds) of butter and anhydrous milkfat (AMF) to Europe, the Caribbean, and Central America. This product will be delivered August through December 2010.
Since CWT reactivated the Export Assistance program in March 18, 2010, it has assisted members in making export sales of Cheddar, Monterey Jack, and Gouda cheese totaling 18,616 metric tons (41.0 million pounds) to 23 countries on four continents. In addition, sales of butter and AMF totaling 11,237 metric tons (24.8 million pounds) have been made to nine countries on three continents.
Assisting CWT members through the Export Assistance Program positively impacts producer milk prices in the long-term by helping member cooperatives to gain and maintain market share thus expanding the demand for U.S. dairy products.
CWT will pay export bonuses to the bidders only when delivery of the product is verified by the submission of the required documentation.
Cooperatives Working Together (CWT) is being funded by dairy cooperatives and individual dairy farmers, who are contributing 10 cents per hundredweight assessment on their milk production through December 2010. The money raised by CWT’s investment is being apportioned between two supply management programs that strengthen and stabilize the national all milk price. For more on CWT’s activities, visit www.cwt.coop