Over $4 Million in Cash to be Returned!

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.

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.

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.