Michigan Milk Producers Association (MMPA) made cash payments of $4.8 million in equity retirements in April. These cash payments represent the retirement of the 2002 Equities. This is in addition to the $1.9 million in cash patronage from 2010 earnings paid to members earlier this year. Combined, MMPA has paid $6.7 million in addition to the monthly milk check to its dairy farmer members in the first four months of 2011.
“The continued success of our operations allows us to make these extra cash payments to our members,” 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 at this time.”
During the past fiscal year MMPA returned extra cash payments in the form of equity payments, cash patronage refunds and a “13th” check in October. These payments totaled more than $9.7 million or about 25 cents per hundredweight on all the milk produced by MMPA members.
MMPA has achieved these benchmark goals through earnings from the Association’s plant operations and from its bulk milk marketing operations. PD
—From MMPA news release
