Dairy Farmers of America, a milk marketing cooperative and dairy foods processor based in Kansas City, reported a 19 percent decrease in profit in 2014 despite sales jumping nearly 40 percent for the year.
DFA’s earnings dropped to $43.1 million in 2014 from $53.1 million the year before, the group reported Tuesday at its annual meeting in Kansas City. That dip came even as higher milk prices drove sales to $17.9 billion in 2014, up from $12.8 billion in 2013.
Those numbers reflect DFA’s 2014 merger with the Dairylea Cooperative and the opening of two dairy ingredient plants, the group said.
The annual meeting, which brought about 1,400 members of the group to Kansas City, is DFA’s first since the organization announced it would move its headquarters to Kansas City, Kan.