From the Manager's Desk

Nov 02, 2023


Harvest

November 2023 Update

By the time this update reaches you, we will have wrapped up the first month of our new fiscal year and will be underway with our external financial audit for the year completed on September 30th. Next month, I look forward to sharing the results from our 2023 fiscal year. While we anticipate very solid results from last year, you won’t find our team taking too much time to celebrate. We have already moved on to the busy fall grain harvest, preparing for the winter propane demands, replenishing crop nutrients, developing crop plans for the next season, making seasonal product line changes for retail, and, as they do every day all year long, our feed team works to grow the business and help their producers provide the highest quality nutrition to their herds and flocks.

Your cooperative’s board of directors and employees have been planning for 2024 (and beyond) fixed asset investments needed to better serve our members. As always, there are a lot of new trucks, applicators, and other rolling stock in the budget. In addition, we are exploring ways to improve production and increase efficiencies at several of our locations through new, larger equipment and facility improvements/expansions.

While the fall harvest got off to a strong start with ideal conditions, late October rain and thunderstorms slowed progress for bringing in this year’s crop. Still, by the time you receive this, we hope conditions have improved and we are in the home stretch. Early reports of yields may not prove to be a record crop, but I think, by most accounts, yields have been above average. Given that most of the territory we cover was in a severe drought nearly the entire growing season, I feel our producers will be pleased with this year’s results.

We have once again reserved the Wisconsin Riverside Resort in Spring Green to hold our next annual meeting on Wednesday, January 24, 2024. Please check out additional updates in this and future newsletters for more information, including scholarship opportunities, director elections, and more.

In a few weeks, we will be celebrating Thanksgiving. Holidays always add stress to our business as employees take extra well-deserved vacation days to spend with family, and our workweek loses a day to serve you. Please help the co-op staff you work with by calling in your feed, propane, lumber, and other deliveries as far in advance of the holidays as possible. With one less day in the workweek to operate, it’s greatly appreciated by all the staff as it allows them to get home at a decent time to spend the holidays with their families and friends.

Veterans Day is on November 11. Thank you, veterans, for your service and sacrifice. Please stay safe, and have a Happy and Healthy Thanksgiving.

 


Matt Severson

CEO

Read More News

Dec 04, 2023
I hope you had a great November. If you’re a veteran, I hope you had a good Veterans Day and were able to phone an old buddy. For the deer hunters out there, I also hope you were successful. I was unable to bag the thirty pointer with my combination AK 57 Uzi radar laser triple-barrel double-scoped heat seeking shotgun. Maybe next year.
Dec 04, 2023
There are many concerns on cost of feed as it is one of the highest input costs in raising livestock.  Many times, we look at cost per head per day to evaluate the cost versus the return on investment in evaluating feed program decisions. Typically, this comes down to the cost per ton on a purchased feed being used to supplement other on farm stored feed. This is a business practice to execute since it has a direct impact on out-of-pocket costs and cash flow. I want to point out other ways to help overall profitability that I know the astute farm managers already are implementing on their farms. How you store and manage forages for farms with ruminants can have a large impact on feed used versus feed wasted. Here  are the points to examine.
Dec 04, 2023

We have completed our annual financial audit and I’m very pleased to report that your cooperative had another solid year in 2023. With highlights including consistent year over year growth from our feed division to lead our company in total sales to our energy team rebounding with the largest improvement to net income over the prior year, each division completed the year with strong sales and positive earnings. Premier will report our fiscal 2023 local net savings of $15 million and total revenues of just over $308 million will exceed previous records. Based on the strong 2023 results, and those of many prior years, we anticipate returning approximately $6 million in cash back to our members in the spring of 2024.