Key issues addressed include 2013 cash disbursements, cash patronage, factors affecting propane prices
Country Pride Cooperative of Bingham Lake, Fulda, Mountain Lake and Windom held its annual meeting Monday afternoon, March 17, in the First United Methodist Church in Windom.
Co-op Manager Kevin Jackson addressed three key issues with those attending: 2013 cash disbursements, cash patronage and factors affecting propane prices.
2013 cash disbursements
* Total cash distribution for fiscal year 2013 was $1,887,854.
This breaks down as following:
* 60% paid in cash – $990,963
* General retirements – $799,627
* 100% patronage over age 73 – $42,625
* 73-year-olds – $35,648
* Equity retirements – $18,991
60% cash patronage
* 100% patronage for dry fertilizer, $27.51; cash payback, $16.50
* 100% patronage for liquid fertilizer, $21.60; cash payback, $12.96
* 100% patronage for NH3, $35.26; cash payback, $21.15
* 100% patronage for gas, $.248; cash payback, $.149
* 100% patronage for diesel, $.268; cash payback, $.16
* 100% patronage for propane, $.103; cash payback, $.0618
Factors affecting propane prices
* Industry was short on supply going into fall.
* High corn dryer use.
* Winter weather and cold began early in the area and dipped into the southern and eastern states.
* Cochin Pipeline will not be used to transport gas anymore.
* Due to large quantity of LP exports, unable to fill United States reserve going into corn drying season and winter, which is why LP shortages showed up.