March 24, 2014

Dairy Farmers of America reports 6% rise in 2013 revenue

Dairy Farmers of America Inc. (DFA) posted earnings of US$61.3 million on revenue of US$12.8 billion in 2013, with a 6% rise in revenue from US$12.1 billion in 2012.

The Kansas City-based dairy marketing cooperative said it had marketed 60.6 billion pounds of milk - about 30% of the total milk production in the US.

"In 2013, we had a successful year. Through strong operational performance and joint venture returns, we were able to execute on our strategic plan," DFA chief executive officer Rick Smith said. "We are also pleased with the improved margins for members."

DFA directed US$7.9 billion in milk payments to members in 2013, up from US$7.3 billion in 2012.