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CWT Task Force Assesses Member Export Capabilities

The task force of farmers and cooperative leaders leading the initiative to renew Cooperatives Working Together in late March issued a survey to NMPF’s members seeking data about the products they manufacture, and also feedback on the value of CWT to their organization and the broader dairy community.

The task force, formed earlier this year to consider how the CWT program should evolve in the future to better meet the needs of its members, is generating ideas to present a series of potential extensions of CWT’s current operations to the NMPF Board of Directors for approval. The survey sent to NMPF cooperatives CEOs seeks information about the type and volume of products manufactured by the membership. The resulting data will be analyzed to assess the potential for expanding the range of products that CWT supports.

Other ideas for CWT’s future activities include expanding the demand for new and different products in foreign markets and improving the collective logistics efficiencies of members’ supply chain processes. The task force will continue to meet virtually to refine these concepts and propose detailed proposals to the NMPF Board.

March CWT-Assisted Export Sales Total 9.5 Million Pounds

CWT member cooperatives secured over 70 contracts in March, adding 9.5 million pounds of product to CWT-assisted sales in 2024. In milk equivalent, this is equal to 96.9 million pounds of milk on a milkfat basis. These products will go to customers in Asia, Central America, the Caribbean, Middle East-North Africa, Oceania and South America and will be shipped from March through August 2024.

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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.