Dairy Farmers of America reports 6% jump in sales
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KANSAS CITY, Mo., March 19, 2014 - Dairy Farmers of America (DFA) reported net income of $61.3 million for 2013 with net sales totaling $12.1 billion, up 6 percent from 2012, citing “strong operating results” from its wholly owned commercial investments and increased earnings from affiliates.
In a news release, the co-op said it directed the marketing of 60.6 billion pounds of milk during the year for both members and others through its consolidated businesses and related affiliates. That's about 30 percent of the total U.S. milk production.
Payments to members for milk marketed rose to $7.9 billion, from $7.3 billion in 2012, primarily because of a higher U.S. all-milk price, which averaged $20.01 per hundred pounds for the year. Returns to members totaled $41.9 billion in 2013, it said. DFA exported 222 million pounds of products in 2013, the fourth straight year of record export sales.
“At DFA, we're about making sure our members can farm successfully and profitably,” said Rick Smith, president and chief executive officer. “In 2013, we had a successful year. Through strong operational performance and joint venture returns, we were able to execute on our strategic plan. We are also pleased with the improved margins for members.”
Dairy Farmers of America is a national dairy marketing cooperative owned by more than 13,000 members on nearly 8,000 farms in 48 states. DFA also manufactures dairy products, food components and ingredients, and is a leader in formulating and packaging shelf-stable dairy products.
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