October 29, 2013. October is National Cooperative month and to mark this event the USDA recently announced that U.S. farmer, rancher, and fishery cooperatives set records for sales, income, and assets in 2012. Strong demand for agricultural commodities, coupled with robust prices, has combined to provide an 8.3 percent increase in sales from 2011 to 2012. This 8.3 percent increase translates to $18 billion in additional sales for a total of $235 billion during calendar year 2012.
The impact of cooperatives is particularly pronounced in rural America where local cooperatives are often times the major driver of economic activity. Of particular interest for agricultural cooperatives throughout Siouxland is the fact that the USDA’s annual list of the 100 largest cooperatives identified that 8 of the 10 biggest gainers on the list were grain and grain/farm supply cooperatives. This includes the second largest gainer on the list, West Central Cooperative of Ralston, IA, jumping from 69th to 41st. Contact Goosmann Law at info@goosmannlaw.com or by calling 712.226.4000.