2024 In Review

Highs and lows for producers

Farm income fell for the second consecutive year in 2024, despite near-record yields for many row crops. In Missouri, the USDA’s Jan. 10 crop summary showed the state’s corn yields averaged 183 bushels per acre in 2024, near the 2014 record of 186 bushels, with total production of nearly 604 million bushels. Missouri soybeans averaged 49 bushels per acre, just shy of the state’s 51-bushel high, with total production of 286 million bushels. Unfortunately, the downward trajectory of market prices meant fewer opportunities for profitable grain sales. On the other hand, 2024 was positive for the U.S. cattle industry, which started the year with the lowest cow herd in more than six decades. Overall, the 2024 average price for beef cattle exceeded the previous high in 2015 by 21.3%.

Collaboration between cooperatives

In the fall of 2024, MFA Incorporated and Land O’Lakes announced a strategic alliance to share expertise and resources. The collaboration will leverage the collective strength of these two leading farmer-owned organizations in new market development, data management and asset utilization. Initially, the agreement will center around Truterra, a market-leading sustainability platform developed by Land O’ Lakes, to support and reward the transition to conservation agronomy practices on the farm.

Pesticide protections

In 2024, the EPA published sweeping plans intended to add protections for threatened species and critical habitat areas and help the federal agency meet its obligations under the Endangered Species Act. These plans include a final version of EPA’s herbicide strategy, which calls for identifying protections for species earlier in the pesticide review process, implementing spray drift buffers and putting “mitigation measures” in place to reduce runoff or soil erosion. Farmers and agribusinesses, including MFA, are now working to implement and understand the provisions of these plans. 

Relief for ranchers

When disaster impacts agriculture, farmers and agribusinesses support each other. In 2024, there was no shortage of such disasters. In February and March, wildfires destroyed homes, structures, pastures and cattle in Texas and Oklahoma. In response, MFA shipped two trailerloads of range cubes from its Aurora Feed Mill to help in relief efforts. Then, in late September, cattle producers in central and southern Georgia were among those hit hard by Hurricane Helene. MFA donated 2 tons of feed to recovery efforts, and Chuck Miller, Missouri Cattlemen’s Association president, delivered it to the affected area. Five pallets of electric fencing supplies were also sent as a joint donation from MFA Farm Supply and Parker McCrory in Kansas City. 

Community contributions

Giving back to the communities and farm families MFA serves is a key cooperative principle and demonstrates the company’s stewardship value. In 2024, the MFA Foundation awarded 245 scholarships to high school seniors totaling nearly $490,000. 
A separate fund, the MFA Incorporated Charitable Foundation, distributed more than $332,000 to nonprofit organizations throughout the territory. Those grants included $135,575 for community projects, $52,740 for education, $88,000 for youth programs and $56,000 for public service and safety. Through the cooperative’s MFA Inc. Cares initiative, MFA employees also raised $35,000 for the Central Missouri Foster Care and Adoption Association, a partnership that continues in 2025.

Collaboration between cooperatives

In the fall of 2024, MFA Incorporated and Land O’Lakes announced a strategic alliance to share expertise and resources. The collaboration will leverage the collective strength of these two leading farmer-owned organizations in new market development, data management and asset utilization. Initially, the agreement will center around Truterra, a market-leading sustainability platform developed by Land O’ Lakes, to support and reward the transition to conservation agronomy practices on the farm.

New connections with customers

MFA launched a new customer portal, MFA Connect, an integrated web and mobile application that gives producers instant access to key information and streamline communications. The simple, secure portal links MFA customers to their statements, purchase history, grain contracts and more while also providing a convenient way to pay invoices, request quotes, browse products and message their account manager. MFA Connect is available online at mfa-connect.com or through a mobile app, available for both Android and iOS devices.

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