The largest dairy cooperative in the nation says its net sales fell by $1.1 billion during 2018, a loss of 7.5 percent over the previous year.
The Dairy Farmers of America cooperative reported net sales in 2018 came in at $13.6 billion, while the previous year’s total was $14.7 billion. The decrease is primarily due to lower milk prices. The all U.S. milk price was 8.2 percent lower than the previous year.
DFA President and CEO Rick Smith says the past year was challenging for many in the dairy farmer community. “However, DFA remains focused on bringing value to our members,” Smith says. “From marketing members’ milk and offering valuable farm services, to expanding our global presence and making strategic investments to strengthen our commercial portfolio, we’re committed to ensuring a strong and sustainable cooperative.”
Despite facing challenges in domestic demand, DFA invested in a new cheese and whey processing facility in Michigan during 2018.