Farms.com Home   Ag Industry News

CWT boosts dairy exports globally

Nov 06, 2024
By Farms.com

89 contracts add 11.2 million pounds of U.S. dairy exports

In October 2024, Cooperatives Working Together (CWT) member cooperatives secured 89 export contracts, adding 11.2 million pounds of dairy products to international sales in 2024. This volume translates to 100.9 million pounds of milk on a milkfat basis.

The dairy products under these contracts will reach diverse destinations, including Asia, Oceania, the Middle East-North Africa, Europe, Central America, the Caribbean, and South America, with shipments scheduled from October 2024 through June 2025.

The U.S. dairy industry relies on exports to sustain the financial stability of farmers and cooperatives. Whether selling cheese, butter, anhydrous milkfat, cream cheese, or whole milk powder, export markets play an essential role in keeping the dairy sector viable.

CWT helps U.S. dairy cooperatives enter global markets, working to reduce trade disadvantages that the domestic dairy industry faces.

These export volumes reflect current contracts and projected deliveries rather than completed shipments. CWT provides financial support to bidders only when the export and delivery of the product is verified through documentation.

This assistance program allows U.S. dairy products to compete in international markets, enhancing the stability of dairy cooperatives across the country.

 


Trending Video

Will the 2025 USDA December Crop Report Be a Market Mover/Surprise?

Video: Will the 2025 USDA December Crop Report Be a Market Mover/Surprise?


Historically, the USDA December crop report is a non-event or another dud report as the USDA reserves any final supply changes to the final report in January of the following year in this case 2026. But after the longest U.S. government shutdown in history at 43 days and no October crop report will they provide more data/surprise and make an exception?
Our China U.S. soybean purchase tracker is now at 26.6% or a total of 3.2 mmt but for traders it’s taking too long to unfold.
The final Stats Canada production report was bearish canola and wheat projection a record crop in both (it adds to the global glut of supplies) and bullish local corn and soybean prices in Ontario/Quebec thanks to a drought. It will not help the fund flow short-term, the USDA may need to offset it?
A U.S. Fed interest rate cut of another 25-basis point next Wednesday (probability 87.1%) could help fund flow and sentiment in stock and ag commodities into year end.
More inflows into Bitcoin this past week saw prices rebound back above 90,000 with support at 82,000 and resistance at 96,000.
A V-shaped bottom in cattle suggest the lows are in after Mexico reported another new world screwworm case. Lower weights, seasonal demand and higher U.S. beef select/choice values with a continued closure of the Mexican border to cattle will result in a resumption of higher cattle futures into yearend.
Australia is expected to produce its 3rd largest wheat crop ever at 36 mmt adding to the global glut of supplies.
Reports of ASF in hogs in Spain the largest pork exporter in Europe could see the U.S. win more pork export business long-term.
If the rains verify into next week of 3-5 inches for Brazil it would go a long way to fixing the dry regions from the last 2-months, but the European weather model has been wrong for the past 2-months!
Natural gas futures are surging to the 3rd price count as frigid hold temps set in.
CDN $ is also surging to end the week on a very resilient economy and better employment numbers suggesting no interest rate cuts next week.
Finally, the CFTC report showed funds were net buyers of soybeans but sellers of corn, canola and wheat. In real time the funds have gone back to selling as they take some profits.