The Agriculture Department last week published its annual report on the nation's top 100 agricultural cooperatives.
The report says Iowa has home to the most big co-ops—16—followed by Minnesota with 13, Nebraska with nine, Illinois and Wisconsin with five each, then California, Indiana, Kansas, Missouri and Ohio, which all have four.
In co-op business volume, Minnesota ranks first among the states, with $68.8 billion. Missouri is second at $16.2 billion and Illinois is third at $13.2 billion.
The top 100 cooperatives also enjoyed a third consecutive year of record sales, reporting revenue of $174 billion in 2013, an increase of almost 9 percent over the $166 billion reported in 2012.
Net income (after taxes) remained virtually unchanged from 2012, at $3.5 billion. The previous records for sales and net income were set in 2012.
CHS Inc. of Saint Paul, Minn., an energy, farm supply, grain and food co-op, has been the nation’s largest ag co-op over the last 10 years, holding onto the No. 1 spot in 201, with $44 billion in revenue.
It was followed by Land O’Lakes Inc., also of Saint Paul, with sales of $14 billion, and Dairy Farmers of America, Kansas City, Mo., with almost $13 billion in revenue.
Wheaton-Dumont Cooperative Elevator, a grain co-op based in Wheaton, Minn., made the biggest climb up the Top 100. In 2012, it was not even on the list, ranking 150th. The co-op rose 58 spots, to 92nd place, in 2013.
The Minn-Dak Farmers Cooperative, Wahpeton, N.D., a sugarbeet co-op, was the next biggest “gainer,” moving from 131st place in 2012 to 98th in 2013.
The September-October issue of USDA’s “Rural Cooperatives” magazine includes the top 100 list and an article that examines some of the financial trends it reveals.
Source: www.hagstromreport.com