“““"-■""i* Solanco Fair Livestock Sale Photos
Tiffany Dean’s grand champion market lamb sold for $2.50
per pound to Farmers First Bank in Quarryville represented by
Joe DeLong.
Allison Hughes’s reserve champion market lamb sold for
$2.25 per pound to Engle Printing, Mt. Joy represented by John
Hemperly.
Katrina Frey’s grand champion steer sold for $4.75 per
pound to Musser’s at the Buck, represented by Gray Musser.
Mandie Holloway’s grand champion hog sold for $3.00 per
pound to Farmers First Bank represented by Joe DeLong.
Tiffany Dean’s reserve champion market hog sold for $3.30
per pound to Strasburg Market Basket, Strasburg, represented
by Josh Brown and Bill Fisher.
Jessica Schmidt’s reserve grand champion steer sold for
$2.10 per pound to Ferguson and Hassler, Quarryville,
represented by Chip, Jim, and Tim Hassler.
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DFA Board
Issues
$24 Million
In Patronage
To Members
KANSAS CITY, Mo. The
board of directors for Dairy
Farmers of America (DFA) re
cently approved and distributed
$24.4 million in member patron
age to dairy farmer members
who marketed milk through the
cooperative in 1999.
The allocation of earnings is
equal to seven cents per hundred
pounds (hundredweight) of milk
produced and marketed by
members in the 1999 calendar
year.
“This patronage continues a
commitment that DFA founders
made to members in 1998,” says
DFA Board Chairman Herman
Brubaker, a dairy producer from
West Alexandria, Ohio. “That
is, DFA is committed to pursu
ing a course of financial stability
that is reflected through this
time-honored co-op practice of
returning earnings, in the form
of patronage, to members.”
Members, who were fully cap
italized in DFA, received 100
percent of their member patron
age in cash. Those, who were not
fully capitalized, received 20
percent of their patronage in
cash with the balance applied to
their DFA equity accounts.
According-to Charles Bccken
dorf, a Tomball, Texas producer
who chairs DFA’s Finance and
Budget Committee, the cash
portion paid out to members to
taled $6.1 million. “The base
capital program is critical to the
success of DFA," nearing' the
completion of its third business
year,” says Beckendorf.
“Every dynamic business
needs equity to sustain growth
and build mpfJfats.’The equity
our dairy farm families hold in
DFA allows us to seek out new
market opportunities and max
imize earnings through invest
ment in modem processing
facilities and joint ventures that
add to the bottom line earnings
of our organization.
Last month DFA announced
the repayment of more than $25
million in previously invested
equity by former members. In
cluded in the equity retirement
package was: $9.6 million to
fully retire the equities of 9,300
members of predecessor cooper
atives who last marketed milk
through their co-op before 1991;
$lO million in early equity re
tirement, $2.5 million in estate
payments; $1.6 in over capital
ized accounts, and $1.4 million
for age retirements.