As the world Turns

Probably everyone is feeling better already:

USDA ACCEPTS DEIP BIDS FOR MOZZARELLA CHEESE TO AFRICA AND MIDDLE EAST
WASHINGTON, June 12, 2009 -- The U.S. Department of Agriculture's Commodity Credit Corporation today accepted two bids from an exporter under the Dairy Export Incentive Program for mozzarella cheese to Africa and Middle East.
The award totaled 19 metric tons of mozzarella cheese.
Delivery period: June - July 2009
Bonus: $100.00 per metric ton
Remaining global DEIP balance: 3,011 metric tons
CCC's bonus was awarded to Hoogwegt U.S., Inc..

For further information, call (202) 720-3224.

Usually, the wholesale price runs between the CME block and barrel price. That would result in about $.67/pound. Compare that with the U.S. supermarket price of between $4 and $5 per pound.

Additionally, Hoogwegt U.S., Inc is a European company. Kind of like U.S. bailout money going in the from door of AIG and out the back door to European banks.

The really impressive part though, is the quantity – 19 metric tons. The milk to produce that much mozzarella would be about 5.5 truck loads. Unless, of course, the yield was jacked up with imported dairy proteins and that is most likely.

So, really, the final question is what are we DEIPing?