Agri-Mark: 2012 profits topped $10 million for sixth straight year
Northeast dairy cooperative Agri-Mark announced a profit after taxes of $10.2 million for 2012, the sixth year in a row of earning more than $10 million for the dairy co-op’s 1,250 dairy farm families. Total sales for the year were $880 million.
These profits are in addition to $21 million in payments that Agri-Mark farmers received in their monthly milk checks throughout 2012 for high milk quality and other premiums, as well as another $6.3 million in milk hauling subsidies.
“After a slow start during the first half of the year with falling farm milk and cheese prices, we made very strong profits during the second half, as increasing prices for dairy products helped both the cooperative and our member-owners,” said Agri-Mark CEO Dr. Richard Stammer.
Stammer said aged Cabot cheddar remains the co-op’s top-selling product, but sales of whey proteins, butter and cultured products are strong and contributors to Agri-Mark’s bottom line and provide the co-op with good product diversity.
Agri-Mark’s profit allocation to its dairy farmers from New England and New York was 35¢/cwt. on all milk marketed through the cooperative during 2012. This represents earnings of roughly $7,500 for the average Agri-Mark member. Visit www.agrimark.coop.