The Michigan Milk Producers Association (MMPA) made cash payments of $3.8 million in equity retirements in April, according to the group. These cash payments represent the retirement of the 2005 equities.

This is in addition to the $2 million in cash patronage from 2013 earnings paid to members earlier this year. Combined, MMPA has paid $5.8 million in addition to the monthly milk checks to its dairy farmer members in the first four months of 2014.

“We continue to revolve equity back to our members on a nine-year cycle, an impressive accomplishment for any cooperative,” says Clay Galarneau, MMPA general manager. “It is gratifying that the efforts of the cooperative have generated additional premiums that can be returned to the members on a timely basis.”

During fiscal year 2013, MMPA members earned $26 million in total premiums. These premiums are a combination of quality, volume, over-order premiums and a “13th” milk check and serve as a reflection of MMPA’s financial strength. MMPA has achieved these benchmark goals through earnings from the association’s plant operations and from its bulk milk marketing operations.

MMPA is a member owned and operated dairy cooperative serving around 2,000 dairy farmers in Michigan, Indiana, Ohio and Wisconsin. PD

—From Michigan Milk Producers Association news release