|Missouri Dairy Business Update|
|Volume 4, Number 8|
CWT Targets More Herd Retirements in 04-05
FOR IMMEDIATE RELEASE Contact: Jerry Kozak
ARLINGTON, VA - As a result of rapidly declining milk prices, as well as recent increases in both the number of cows in the national herd and overall milk production, the CWT Committee today unanimously approved operating plans for the second year of the CWT Program.
The Committee voted to allocate 80% of this year’s funds to the Herd Retirement Program and 20% to the Export Assistance Program in addition to utilizing the remaining monies left over from the previous year.
The CWT Committee agreed that a request for bids for the Herd Retirement Program would not be announced before October 2004. Consequently, a final decision ratifying both an October 1, 2004 commencement date and the details for implementation of the Herd Retirement Program will be made in mid-September.
The CWT Export Assistance program will continue to receive bids for both cheese and butter at the target price levels of $1.40 per pound and $1.30 per pound, respectively.
Cooperatives Working Together is being funded by dairy cooperatives and individual dairy farmers, who are contributing 5 cents per hundredweight assessment on their milk production from July 2003 through June 2004. The money raised by CWT’s investment is being apportioned among three supply reduction programs to improve the national all milk price. For more on CWT’s activities, visit www.cwt.coop