The board endorsed the payment during its regular monthly meeting. Equal to 30 cents per hundredweight, the payment will be distributed to more than 10,600 members who marketed their milk through DFA during September 2009.
“We are encouraged by early signs of recovery for the dairy industry, but recognise that our members have a long road ahead as they heal from this difficult year,” said DFA board of directors chairman, Tom Camerlo. “Our intent is that this special cash payment will help these dedicated farmers hang on until recovery is in full swing and positive cash flows return.”
This is the second special payment to DFA members in 2009. Combined with two 2008 patronage payments, DFA has directed $37.3m in cash back to members in recent months to ease the economic toll of the dairy crisis.
This special payment follows a $9.5m special payment to members in July, which was paid from earnings in the first half of 2009. In addition, this year DFA members received a total of $19m (a combined 5 cents per hundredweight) in patronage payments as a result of 2008 earnings.
Source: Dairy Farmers of America
© FoodBev Media Ltd 2020
World Dairy Innovation Awards – OPEN FOR EARLY BIRD ENTRIES!
The awards celebrate excellence and innovation across the global dairy industry.
Don’t miss out on having your innovations recognised on a global scale.
Early bird deadline 19 March – enter now!