News

A good year for MFA Inc., but volatile year ahead

A Midwest farm cooperative was more profitable in 2022, despite the uncertainties. MFA Incorporated has pre-tax profits of $27.2 million for Fiscal Year 2022, an increase from the previous year. The co-op will return $13 million in patronage dividends to its members. Ernie Verslues is the CEO.

“The agronomy area led the way. We had a good year in the grain business again and the livestock area. All in all, it was a really good year for the company.”

He tells Brownfield 2023 could be more volatile, considering higher input costs.

“There’s always that concern as to the value is now and what does the value like one year from now. How long can those two stay matched up so they can generate cash flow and profit?”

MFA Incorporated held their annual meeting earlier this week.