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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 paid out a record amount in milk quality premiums to farmers last year

Methuen, Mass. - Agri-Mark farmers received strong milk prices in 2014 and their co-op also paid them a record $25 million in monthly premiums for milk quality and other incentives. However, Agri-Mark felt the pinch of falling dairy commodity prices at the end of the year and was forced to write down the value of its inventories of dairy products which resulted in a year-end loss, its first in nearly a decade.

“Fortunately, we have earned several years of record profits and have deliberately put aside for a situation just like this loss, so our farmers will not be affected,” says Neal Rea, a dairy farmer from Cambridge, N.Y., who serves as Chairman of the Board of Directors. “During 2014 our Cabot brand continued to grow in sales and profits and our McCadam Cheese brand also did well, which bodes very well for our future. We are also very pleased that we were able to pay out $25 million in premiums to our members to help them through the year.”

Agri-Mark officials say there will be no assessment on its farmers to cover the $2.3 million loss and it will be business as usual for 2015. The milk marketing cooperative was having a good year right up until the end of 2014, when rapidly falling U.S. milk and dairy product prices forced it to write down the value of the millions of pounds of dairy products it had in inventory, particularly nonfat dry milk and butter.

Even though it was a good year for local Agri-Mark farmers with high milk prices and record monthly premiums, the entire dairy industry is still in turmoil due to the falling prices caused primarily by increased U.S. milk production and weak dairy exports. No one knows how low milk farm prices may fall in 2015. Many dairy companies and cooperatives faced record losses, but Agri-Mark’s active dairy product hedging program prevented the company from experiencing a much larger loss.

“The wholesale side of our business did not do well, but the good news is that our consumer brands continue to grow in sales, profits and market penetration,” says Richard Stammer, Agri-Mark CEO.  “Moving forward, our business is financially strong and Cabot’s new Legacy line of cheeses continues to expand throughout the country. We are well positioned to continue our record of innovative marketing and profitability for our farmer-owners.”

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Agri-Mark, the premier dairy cooperative in the Northeast, had $1.1 billion in 2014 sales and markets more than 336 million gallons of farm fresh milk each year for 1,200 dairy farm families in New England and New York. The cooperative is headquartered in Methuen, Mass., has been marketing milk for dairy farmers since 1913, and actively represents their legislative interests in the Northeast and in Washington, D.C.    Agri-Mark farmers own the award-winning Cabot brand of Vermont Cheddar, butter and other dairy products in addition to the McCadam brand of New York Cheddar, Pepper Jack and other cheeses. Agri-Mark has also invested in operations to manufacture and market valuable whey proteins globally while also marketing fresh fluid milk from its local farm families to the region's largest dairy processors. For more information about Agri-Mark, visit our web site at www.agrimark.coop.

Contact John Majkut

 
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