Second Dairy Buyout Set by CWT

Second Dairy Buyout Set by CWT

Deadline for bids is July 24.

Cooperatives Working Together has announced details of its second herd reduction program this year aimed at reducing milk production and boosting prices.  CWT spokesman Jim Tillison says the organization will accept as many bids as they can get at $5.25 per hundredweight or below. The reduction is limited to the program's available budget, which has not been announced. The deadline for bids is July 24.

 

The first herd reduction was the largest dairy herd retirement program ever conducted, with 101,040 cows removed from production in 41 states.  Those cows produced almost two billion pounds of milk.

 

Jerry Kozak, chief executive of the National Milk Producers Federation said this second offering should provide a double-barreled attack on milk production in a very short period of time.  He expects recovery of the farm level price several months sooner than would otherwise occur.  The federation manages Cooperatives Working Together.

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