Bidding Strategies for the CWT Herd Buyout Program
The CWT Herd Reduction (Buyout) Program is a new industry initiative intended to reduce milk production by 540 million pounds by taking whole herds out of production. A producer can only participate by submitting a bid and having that bid accepted by the program administrators, and there are regional limits to participation. Bids are stated on a per hundredweight basis relative to milk sales in a base history period. Our only previous …