For the fourth year in a row, the nation's agricultural cooperatives posted records for both income and revenue. Net income rose 16.5 percent, to $6.5 billion, in 2014. Total revenue was up 0.4 percent, reaching $246.7 billion.
The total number of agricultural cooperatives fell from 2,186 in 2013 to 2,106 last year, down nearly 4 percent. Still, membership grew by 1 percent, to just under 2 million.
CHS Inc., a fuel, supply, grain and food cooperative based in Inver Grove Heights, Minn., is the largest cooperative in the United States. It is also the top agricultural cooperative on USDA's Top 100 Ag Co-ops list. CHS Inc. posted $43 billion in revenue in 2014.
A dairy cooperative, Dairy Farmers of America, based in Kansas City, Mo., came in at second with $18 billion in total revenue. Land O'Lakes, a dairy, supply and food cooperative headquartered in St. Paul, Minn., was third with $15 billion in revenue.
Other dairy cooperatives to make the top 20 include:
6. California Dairies, Artesia, Calif., $4.642 billion in sales
8. Northwest Dairy Association, Seattle, Wash., $2.595 billion in sales
10. Associated Milk Producers Inc., New Ulm, Minn., $2.170 billion in sales
12. Foremost Farms USA, Baraboo, Wis., $1.76 billion in sales
13. Prairie Farms USA, Carlinville, Ill., $1.881 billion in sales
20. Maryland & Virginia Milk Producers Co-op, Reston, Va., $1.523 billion in sales.
Outside of the top 20, there were an additional 13 dairy cooperatives in the top 100.
Iowa was home to 15 agricultural cooperatives, more than any other state. Minnesota came in second with 12, followed by Nebraska with nine, Illinois with six, and California and Wisconsin with five each. Minnesota ranks first in revenue from an agricultural cooperative at $67.6 billion.
(c) Hoard's Dairyman Intel 2015
November 2, 2015
