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March
  1. Three Northeast Dairy Farm Families Recognized for Their Herds’ Excellent Milk Quality
June
  1. Dairy Co-op asks U.S. Secretary of Agriculture to stop the price collapse and set minimum wholesale dairy product prices
June
  1. Richardson’s Rocky Acres Farm celebrated during June Dairy Month
April
  1. Townley named new CEO of Agri-Mark
  2. CABOT CREAMERY EARNS HONORS AT 2015 US CHAMPIONSHIP CHEESE CONTEST
  3. Agri-Mark paid out a record amount in milk quality premiums to farmers last year
September
  1. Young farmers receive $1,000 Scholarships from Agri-Mark
March
  1. Agri-Mark farmers receive $11 million year-end profit
  2. CABOT VINTAGE CHOICE CHEDDAR REPEATS AS GOLD MEDLIST AT WORLD CHAMPIONSHIPS
August
  1. Agri-Mark earns Grade A designation from FDA on its whey products
March
  1. PDF Agri-Mark farmers share $10.2 million year-end profit.
September
  1. PDF Agri-Mark Named 2013 Exporter of the Year
March
  1. PDF Agri-Mark farmers will share $15 million year-end profit
October
  1. Agri-Mark names Stammer new CEO
March
  1. Agri-Mark dairy farmers share $14.9 million profit
June
  1. PDF NMPF Board Adopts Multi-Faceted Proposal To Make Major Changes in U.S. Dairy Policy
September
  1. Marginal Milking Pricing Information
October
  1. PDF CWT To Focus on Exports After 2010
February
  1. PDF Rea elected to his third term as Agri-Mark Chairman
March
  1. PDF Agri-Mark dairy farmer co-op earns $11.8 million
June
  1. Agri-Mark pre-pays its dairy farmers
October
  1. PDF CWT Announces Third Herd Retirement of 2009
  2. Agri-Mark sends $2 million to struggling dairy farmers
January
  1. PDF CWT TO OFFER BRED HEIFER OPTION IN NEXT HERD RETIREMENT ROUND
  2. PDF Torn Between Two Loves; Football and Cheese
February
  1. Agri-Mark dairy co-op earns $17.6 million
June
  1. PDF
July
  1. PDF CWT Accepts Herd Retirement Bids
October
  1. PDF CWT Announces Herd Retirement
December
  1. PDF CWT Accepts 184 Bids Representing 61,00 Cows, 1.2 Billion Pounds of Milk
June
  1. Agri-Mark expects record farm milk prices
October
  1. Cabot receives a Rural Development Grant from USDA
March
  1. Allied and Agri-Mark farmers vote to come together
January
  1. Agri-Mark Farmers to Receive $11.4 Million
February
  1. Peterson elected to 13th term as Agri-Mark
April
  1. Cabot Distribution Center Nears Completion
May
  1. Allied and Agri-Mark dairy co-ops agree to work more closely together
January
  1. Agri-Mark farmers purchase McCadam Cheese business
February
  1. Agri-Mark announces $6.8 million profit
July
  1. Farm milk prices projected to jump this summer
February
  1. Agri-Mark Posts $5.7 Million Year-end Profit
  2. Peterson Elected to 11th Term as Chairman
April
  1. Farm Bill provides safety net for Farmers
December
  1. Agri-Mark set to purchase McCadam Cheese business
April
  1. Agri-Mark reports $1.9 million profit
  2. Agri-Mark farmers hold annual meeting in Vermont
October
  1. Wholesale Butter and Cheese Prices Collapse
For Immediate Release

Contact Doug DiMento
978-552-5541

Agri-Mark dairy co-op earns $17.6 million

The cooperatives Cabot and McCadam brands continue to grow
Agri-Mark announced a record profit after taxes of $17.6 million for fiscal year 2007. This passed the previous record of $11.4 million the cooperative earned in 2003. This years earnings for dairy farmers are welcome news given the past few years of struggling with low market prices and huge increases in production costs, especially energy, both on the farm and within the cooperative.


Agri-Marks profit allocation to the co-ops 1,300 dairy farmers will be $.50 per hundredweight for all of the milk each farm family shipped to the cooperative during the 2007 fiscal year. This represents allocated earnings of roughly $9,000 for the average Agri-Mark member milking 100 cows and producing 1.8 million pounds of milk per year.


Officials at Agri-Mark say the continued strength of the cooperative's Cabot and McCadam branded businesses, strong demand for the whey proteins and powder produced by the co-op and cost reductions due to changes Agri-Mark made in its business during the past year, all worked to boost profits.


In addition, Agri-Mark members also received several million dollars in monthly premiums for overall milk quality and other incentives that the co-op was able to return to its dairy farm families.


Last year was finally a good one for farm prices, but milk production costs also climbed to record levels, says Neal Rea, a dairy farmer from Cambridge, N.Y., who serves as the co-ops Chairman of the Board. That is why I am so pleased that Agri-Mark is able to generate these year-end profits and also earn money for the farm in the form of monthly premiums.


Rea says the benefits of farmers owning added-value businesses was apparent in 2007 as those investments generated significant returns. Last year the Cabot and McCadam brands, both owned by the cooperative, continued to grow both in sales and profits for its farmer-members.


The co-ops Chairman says Agri-Marks whey protein plant in Middlebury, Vt., continues to generate strong revenues from processing whey into more value-added products. The investment in the whey facility in 2000 helped turn a little-valued by-product of cheese production into more marketable products. The co-ops whey proteins and powders are marketed both nationally and internationally and are used as ingredients in hundreds of products, including sports nutrition drinks and baby formulas.


Dairy farmer Paul Percy of Stowe, Vt., is one of the few dairy farmers who has served on the Agri-Mark Board of Directors since the co-op was formed in 1980. Percy milks 350 cows on his 1,250 acre family farm and has seen manyt ups and downs in the industry over the years. He says he is pleased with Agri-Marks results.


We had an excellent year. Our brands continued to grow and the commercial side of our business was strong as well, says Percy. I see the potential for many good years ahead.


Percy also notes that every time a consumer buys Cabot or McCadam dairy products, they are making a significant difference in helping their neighboring dairy farms stay in business.


Paul P. Johnston, Agri-Mark President and CEO, also says he is pleased with Agri-Marks results, but recognizes the challenges of sustaining such high profit levels year to year, especially given the volatility of both national and international dairy markets and farm milk prices. Still, Johnston says Agri-Mark is stronger financially and better prepared today to face the future.


Northeast dairy farmers need to market a larger percentage of their own high quality dairy products directly to the consumer, so they can capture a larger portion of the dollars they spend on those products, says Johnston. We will continue to work to expand our branded sales in 2008 and explore every opportunity to stabilize farm milk prices at levels above the cost of production for our farmer-members.



Agri-Mark, with approximately $836 million in 2007 sales, markets more than 300 million gallons of farm fresh milk each year for 1,300 dairy farm families in New England and New York. The cooperative is headquartered in Methuen, Mass., has been marketing milk for dairy farmers since 1916, and also actively represents their legislative interests in the Northeast and in Washington, D.C.


Agri-Mark owns the award-winning Cabot brand of Vermont Cheddar, butter and other dairy products in addition to the McCadam brand of New York Cheddar, Muenster and other cheeses. Cabot won the award of Worlds Best Cheddar in 2006 for the second time and McCadam won the award of Americas Best Cheese in 2007. Agri-Mark has also invested in operations to manufacture and market valuable whey proteins and sells fluid milk from its farmers to the region's largest dairy processors. For more information about Agri-Mark, visit our web site at www.agrimark.net.

Contact John Majkut

 
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