Alva Review-Courier -

Dacoma Farmers Co-op held their 107th annual meeting last week and boasted a great turnout. The building was filled with people, prizes and great barbeque with all the trimmings from The Bull Smokehouse and Saloon in Alva.

The board's vice president, Terry Budy, kicked things off with an opening prayer before attendees filed in line for the meal. Trent Milacek, a risk management advisor with CoMark Equity Alliance, spoke briefly while the mealtime was winding down. Milacek said it looked like there was a pretty good crop of wheat sitting out there right now, but his philosophy is always to protect profit, and his background with the OSU Extension as the West Area Agricultural Economics specialist has helped him to keep risk management at the forefront of his mind.

As a licensed crop insurance agent with a brokerage license, Milacek's knowledge and experience allow him to assess things from many different angles to help clients better understand risk management philosophy to implement on their farms. He said they've already spent a lot of money on this year's crop and have the fungicide going on soon; the top dress and seeding are done, and with all the groundwork done last summer, he wants to look at laying off some of the risks, getting contracts on, and doing the best they can so they won't have to worry about losing money on investments already put into the crop.

After Milacek spoke, banjo music cued up, and a digital wheel with coop members' names spun until it landed on a winner for door prizes. Several people won various prizes, including gift certificates, tool sets, coolers and tumblers, jackets and hats, speakers, grill covers and pocket knives. Several businesses donated prizes, like Western Equipment, Dacoma Coop, Corteva, Winfield Solutions, Stillwater Milling, BASF, Johnston Seed Company, Simplot, CEA, and Parallel Ag.

Business

The co-op's net earnings for 2023 were $1,685,566, an almost $350,000 increase from the previous year. Patronage dividends totaling $801,835 were issued, of which 40 percent were paid in cash. Co-op members stood in line at the end of the meeting to collect their checks, totaling $791,074. Next, it was time to make nominations for two expired board member terms. Kent Castle's term was up, and a nomination from Monty Lohmann on the floor to appoint Castle back to his position carried. Gary Goucher, whose term expired, was also voted back to his position.

General Manager's Report

Jake Kelln had much to say in his report. First, he thanked all co-op members for their patronage and loyalty and for attending the meeting. He also thanked the board for allowing him the opportunity to work for the co-op, bragged about CFO Kevin Jeffries and his abilities "to do it all," and then recognized co-op employees and the branch managers from Waynoka, Mooreland, Freedom and Jet.

Kelln talked about some of the co-op upgrades implemented and their expenditures to improve customer service and strengthen their ability to serve their farmers and ranchers. He said some of their investments had paid off. That influx of cash opened the opportunity to make some much-needed upgrades and purchases, including a John Deere row crop tractor, a 53-foot row crop trailer, a fuel delivery truck (that he said was probably a few decades overdue), a stainless steel fertilizer tanker, a used SkyTrak, a Portacool, a bulk DEF tank, a grain probe, fuel island repairs, fuel island new line replacement, new exit scales, a surveillance system, and more.

Kelln said that fixed asset expenditures in 2023 were $1.3 million and exclaimed, "Don't worry, we will not spend that much every year!" He made it clear that the co-op's goal is to maintain the facility and the equipment, letting members know it belonged not to him but to them, the members.

At the end of his report, Kelln received high praise from the board for all of his abilities as a general manager, with Goucher stating that he was the perfect person for the job. Goucher said he looks forward to seeing everyone at next year's 108th annual meeting.