March Cwt-Assisted Dairy Export Sales Totaled 73 Million Pounds

Apr 06, 2022

CWT member cooperatives secured 67 contracts in March, adding 6.7 million pounds of American-type cheeses, 37,000 pounds of butter, 611,000 pounds of whole milk powder and 895,000 pounds of cream cheese to CWT-assisted sales in 2022. In milk equivalent, this is equal to 74 million pounds of milk on a milkfat basis. These products will go customers in Asia, Central America, Middle East-North Africa, Oceania and South America, and will be shipped from March through September 2022.

CWT-assisted 2022 dairy product sales contracts year-to-date total 36.5 million pounds of American-type cheese, 37,000 pounds of butter, 4.0 million pounds of cream cheese and 14.7 million pounds of whole milk powder. This brings the total milk equivalent for the year to 477 million pounds on a milkfat basis.

Exporting dairy products is critical to the viability of dairy farmers and their cooperatives across the country. Whether or not a cooperative is actively engaged in exporting cheese, butter, anhydrous milkfat, cream cheese, or whole milk powder, moving products into world markets is essential. CWT provides a means to move domestic dairy products to overseas markets by helping to overcome U.S. dairy’s trade disadvantages.

Click here to see more...

Video: U.S.-China Trade “Truce” + U.S. Fed Cuts Rates Again

The market was hoping for a US-China trade deal, but we got a trade “truce” for now from the keenly awaited Trump-Xi meeting at the APEC Summit.
China commits to minimum purchase commitments of 12 MMT of U.S. soybeans during the “current season” and a minimum of 25 MMT annually through 2028.
U.S. Treasury Sec Bessent said other Asian countries have agreed to buy additional 19 MMT of US soybean.
Soybean futures trading above $11 now- they normally tend to rally to $12.
As expected, US Fed cuts interest rates by -0.25% again in October to 3.75%–4.00%. No further cuts promised for this year but trade looking out to the Dec FOMC.
The Bank of Canada cut interest rates to 2.25% but raised concern over trade war damage.
Soy meal futures, remarkably, have had 14 consecutive higher close sessions. A bull market in soybeans is a bull market in soy meal!
Cattle futures lower as funds unwind out of cattle for now due to Trump headlines and objective to lower beef prices.
All major stock indices climb to new record highs. It was Mag 7 reporting week, which had mixed results. But we now have the first $5 trillion company in Nvidia!