Slightly higher dairy product prices resulted in improved revenues for most dairy cooperatives in 2017, according to an annual report from the National Cooperative Bank (NCB). However, the increased revenues didn’t substantially change the dairy co-ops’ rankings, or their standing among the nation's 100 largest cooperatives.
The report, which ranks all co-ops based on business volume and total assets, is released annually as part of the October National Cooperative Month observance.
Dairy in Top 100 rankings
Seventeen dairy cooperatives made the “Top 100” list for 2017 business volume, up from 16 in 2016 (Table 1). All dairy co-ops on the list saw higher gross revenue in 2017 compared to a year earlier. Business volume includes sum of total sales, service receipts, patronage income and non-operating income.
Among the largest dairy co-ops, Dairy Farmers of America and Land O’Lakes held their positions. Select Milk Producers, Upstate/Niagara Bongards and First District Association moved up seven to 10 spots in the Top 100 rankings, with most others moving no more than a couple spots.
Cooperatives voluntarily submit revenue and asset information to NCB for the report, according to Barry Silver, who has been compiling the list for more than 30 years.
Southeast Milk Inc. reported $727 million in fiscal year 2017 sales, which would have placed it in 77th place among the Top 100 co-ops. Based on milk volumes handled in 2017, other large co-ops not on the list were Tillamook, Lone Star Milk Producers and St. Albans.
Land O’Lakes listed total 2017 net sales at $13.7 billion, but based on the 2017 Land O’Lakes financial report, net sales from its Dairy Foods division was about $3.9 billion in 2017, up from about $3.8 billion in 2016.
The “Top 100” list includes co-ops involved in a wide range of businesses. Fifty-two agricultural co-ops made the Top 100 list, followed by 23 energy and communications co-ops. Finance co-ops had 11, and grocery/food distribution co-ops had eight.
CHS Inc., a fuel, grain and food cooperative based in Inver Grove Heights, Minnesota, remains the nation's largest U.S. cooperative, with $31.9 billion in total business volume in 2017. That was up from $30.3 billion in 2016.
NCB indicated total business volume rose about 3 percent for the Top 100 cooperatives, to $214 billion. 
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Dave Natzke
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