Altoona .........................715.835.3104
Arlington .......................608.635.4376
Barron ...........................715.537.5618
Bonduel .........................715.758.2125
Johnson Creek ..............920.699.3588
Lomira ..........................920.269.4351
Marion ..........................715.754.5227
Monroe ........................608.328.8344
Reedsville .....................920.754.4361
Richland Center ..............608.647.6151
Sparta .........................608.269.3104
Stratford .......................715.687.4101
Waukon ........................563.568.4501
Equity Cooperative Livestock Sales Association Market Contact Information:
We must adjust to an ever-changing market while holding onto our unchanging principles.
2 0 1 9 A N N U A L R E P O R T
8 0 0 . 3 6 2 . 3 9 8 9 | w w w . e q u i t y c o o p . c o m
P.O. Box 1003 • Baraboo, Wisconsin 53913608.356.8311 • 800.362.3989
Fax 608.356.0117www.equitycoop.com
CONNECT WITH EQUITY… Like us on Facebook
Twitter@equity_coop
Instagram @equity_coop
equitylivestockfocus.com
Barron | 715-537-5618
Stratford | 715-687-4101
Altoona | 715-835-3104
Sparta | 608-269-3104
Richland Center | 608-647-6151
Arlington | 608-635-4376
Johnson Creek | 920-699-3588
Lomira | 920-269-4351
Reedsville | 920-754-4361
Bonduel | 715-758-2125
Marion | 715-754-5227
Waukon, IA | 563-568-4501
Monroe | 608-328-8344
Menominee BuyingStation | 906-863-8123
Ettrick Buying Station 608-269-3104
Concern for Community• Helping today’s youth become tomorrow’s leaders
by supporting Future Farmers of America & 4-H Foundations
• Providing scholarships to future agriculture leaders
Working Together• Our board and management team work together to
improve markets and support our member’s needs.
• Working on behalf of our members with other
organizations at national and state levels for the
betterment of the industry.
• Member input through field service reps and annual
and local association meetings.
Education, Training & Information• Work with our future young leaders on the benefits
of cooperatives• Annual District Meetings• Beef Quality Assurance programs
Control is in Your Hands & One Member One Vote• Members control our future
Open to all People Who Can Use Our Services• You don’t have to be a member to use our services
Your Contribution Counts• Our members contribute equitably, and democratically
control the capital of their cooperative
We utilize our unchanging principles and members’ input to guide our cooperative that is focused on our patron’s needs. As a cooperative we value our members who make up Equity Cooperative Livestock Sales Association. We honor their partnership and commitment and
are thankful for their trust. All principles that help make our cooperative successful!
OUR LOCATIONS
From the President & CEO
LES DANIELSONCHAIRMAN OF THE BOARD
From the Chairman of the Board
This year your cooperative saw a change in leadership at Equity as our new President and
CEO, Curt Larson, took over on July 1st for the retiring Chuck Adami. It has been a pleasure
working with Chuck for the past 20 years and I look forward to working with Curt in 2020
and beyond.
The year was difficult for agriculture in the Midwest. Low commodity prices continued to
decrease or lessen the farmer’s profit margins while exceptionally wet weather challenged
our ability to farm. As your cooperative continues to adjust to this ever-changing agriculture market, it continues to
implement cost saving measures while still holding on to the unchanging principles that guide our cooperative. In 2019
the Board of Directors remained focused on these measures and the year ended with a positive result.
As commodity prices have begun to recover, I am looking for a stronger 2020 for livestock producers as well as Equity
Livestock Cooperative. We look forward to marketing your cattle in 2020 and appreciate your continued support and loyalty.
Les Danielson, Chairman of the Board
Equity Cooperative Livestock Sales Association values our member relationships and believes
that these are an important stepping stone to meeting patron needs.
As our cooperative continues to face challenges from the ever-changing elements of
agriculture, we remain focused on our unchanging principles. Working together, concern for
our communities, and providing education, training, and information to our members are
some of the guiding principles that lead us.
We believe during these times of change it is especially important to continue to educate and inform our members
on services we can provide to achieve success in marketing livestock. As 2019 comes to an end and 2020 begins
agriculture continues to experience change. It is important that our members know that their cooperative will continue
to remain dedicated in preparing its members for long-term success.
Thank you for your support and trust over this past year. We continue to strive to provide quality services for successful
member relationships.
Curt Larson, President & CEO
CURT LARSONPRESIDENT & CEO
Risk Management • Livestock Marketing • Credit Corporation • Field Services
Altoona . . . . . . . . . . . . . . . . . . . . . . . . . 715.835.3104
Arlington . . . . . . . . . . . . . . . . . . . . . . . 608.635.4376
Barron . . . . . . . . . . . . . . . . . . . . . . . . . . . 715.537.5618
Bonduel . . . . . . . . . . . . . . . . . . . . . . . . . 715.758.2125
Johnson Creek . . . . . . . . . . . . . . 920.699.3588
Lomira . . . . . . . . . . . . . . . . . . . . . . . . . . 920.269.4351
Marion . . . . . . . . . . . . . . . . . . . . . . . . . . 715.754.5227
Monroe . . . . . . . . . . . . . . . . . . . . . . . . 608.328.8344
Reedsville . . . . . . . . . . . . . . . . . . . . . 920.754.4361
Richland Center . . . . . . . . . . . . . . 608.647.6151
Sparta . . . . . . . . . . . . . . . . . . . . . . . . . 608.269.3104
Stratford . . . . . . . . . . . . . . . . . . . . . . . 715.687.4101
Waukon . . . . . . . . . . . . . . . . . . . . . . . . 563.568.4501
Equity Cooperative Livestock Sales Association Market Contact Information:
2019 2018
Current Assets $17,182,709 $16,753,106
Property and Equipment 5,666,590 5,440,285
Investments and Other Assets 2,607,177 4,572,095
TOTAL ASSETS $25,456,476 $26,765,486
Current Liabilities $13,324,962 $13,567,934
Long Term Debt, Less Current Maturities 2,403,959 3,401,674
Minimum Pension Liability 982,133 1,707,467
TOTAL LIABILITIES $16,711,054 $18,677,075
Patron Equities 8,745,422 8,088,411
TOTAL LIABILITIES AND PATRON EQUITIES $25,456,476 $26,765,486
Gross Operating Revenues $425,434,931 $452,171,373
Payment to Producers (411,999,825) (438,608,458)
NET OPERATING REVENUES 13,435,106 13,562,915
Operating Expenses 13,029,652 12,925,660
NET PROCEEDS FROM OPERATIONS 405,454 637,255
Non Operating Income / (Expense) (94,457) (104,689)
NET PROCEEDS BEFORE INCOME TAXES 310,997 532,566
Credit for Income Taxes (21) —
NET PROCEEDS $311,018 $532,566
A summary of the audited financial statements may be found at www.equitycoop.com or a copy of the complete audited financial statements may be requested by contacting Nancy Bilz, Vice President of Finance/CFO, 401 Commerce Ave. Baraboo, WI 53913.
ASSETS
LIABILITIES AND PATRON EQUITIES
CONSOLIDATED STATEMENTS OF OPERATION
P.O. Box 1003 • Baraboo, Wisconsin 53913608.356.8311 • 800.362.3989
Fax 608.356.0117www.equitycoop.com
Financial Statement
DAN LEISCHERDISTRICT I
DAVID WILKEDISTRICT IIVICE CHAIRMAN OF THE BOARD
STEVE SCHLEISDISTRICT IIISECRETARY/TREASURER
PETE KLEIMANDISTRICT IV
ALLAN CIHLARDISTRICT V
LES DANIELSONDISTRICT VICHAIRMAN OF THE BOARD
KARL MEROWDISTRICT VIIASSISTANT SECRETARY/TREASURER
DWIGHT TRUTTMANNDISTRICT VIII
BRAD SOLCHENBERGERDISTRICT IX
ADAM QUANDAHLDISTRICT X
NANCY BILZVICE PRESIDENT OF FINANCE & CFO
DAVID JOHNSONVICE PRESIDENT OF MARKETING
GARY WILLIAMSVICE PRESIDENT OF CREDIT SERVICES
ROB MEIERVICE PRESIDENT OF INFORMATION SYSTEMS
CURT LARSONPRESIDENT AND CEO
TOD FLEMINGEXECUTIVE VICE PRESIDENT OF MARKETING & COO
Management Team
Board of Directors
From the President & CEO
LES DANIELSONCHAIRMAN OF THE BOARD
From the Chairman of the Board
This year your cooperative saw a change in leadership at Equity as our new President and
CEO, Curt Larson, took over on July 1st for the retiring Chuck Adami. It has been a pleasure
working with Chuck for the past 20 years and I look forward to working with Curt in 2020
and beyond.
The year was difficult for agriculture in the Midwest. Low commodity prices continued to
decrease or lessen the farmer’s profit margins while exceptionally wet weather challenged
our ability to farm. As your cooperative continues to adjust to this ever-changing agriculture market, it continues to
implement cost saving measures while still holding on to the unchanging principles that guide our cooperative. In 2019
the Board of Directors remained focused on these measures and the year ended with a positive result.
As commodity prices have begun to recover, I am looking for a stronger 2020 for livestock producers as well as Equity
Livestock Cooperative. We look forward to marketing your cattle in 2020 and appreciate your continued support and loyalty.
Les Danielson, Chairman of the Board
Equity Cooperative Livestock Sales Association values our member relationships and believes
that these are an important stepping stone to meeting patron needs.
As our cooperative continues to face challenges from the ever-changing elements of
agriculture, we remain focused on our unchanging principles. Working together, concern for
our communities, and providing education, training, and information to our members are
some of the guiding principles that lead us.
We believe during these times of change it is especially important to continue to educate and inform our members
on services we can provide to achieve success in marketing livestock. As 2019 comes to an end and 2020 begins
agriculture continues to experience change. It is important that our members know that their cooperative will continue
to remain dedicated in preparing its members for long-term success.
Thank you for your support and trust over this past year. We continue to strive to provide quality services for successful
member relationships.
Curt Larson, President & CEO
CURT LARSONPRESIDENT & CEO
Risk Management • Livestock Marketing • Credit Corporation • Field Services
Altoona . . . . . . . . . . . . . . . . . . . . . . . . . 715.835.3104
Arlington . . . . . . . . . . . . . . . . . . . . . . . 608.635.4376
Barron . . . . . . . . . . . . . . . . . . . . . . . . . . . 715.537.5618
Bonduel . . . . . . . . . . . . . . . . . . . . . . . . . 715.758.2125
Johnson Creek . . . . . . . . . . . . . . 920.699.3588
Lomira . . . . . . . . . . . . . . . . . . . . . . . . . . 920.269.4351
Marion . . . . . . . . . . . . . . . . . . . . . . . . . . 715.754.5227
Monroe . . . . . . . . . . . . . . . . . . . . . . . . 608.328.8344
Reedsville . . . . . . . . . . . . . . . . . . . . . 920.754.4361
Richland Center . . . . . . . . . . . . . . 608.647.6151
Sparta . . . . . . . . . . . . . . . . . . . . . . . . . 608.269.3104
Stratford . . . . . . . . . . . . . . . . . . . . . . . 715.687.4101
Waukon . . . . . . . . . . . . . . . . . . . . . . . . 563.568.4501
Equity Cooperative Livestock Sales Association Market Contact Information:
Altoona .........................715.835.3104
Arlington .......................608.635.4376
Barron ...........................715.537.5618
Bonduel .........................715.758.2125
Johnson Creek ..............920.699.3588
Lomira ..........................920.269.4351
Marion ..........................715.754.5227
Monroe ........................608.328.8344
Reedsville .....................920.754.4361
Richland Center ..............608.647.6151
Sparta .........................608.269.3104
Stratford .......................715.687.4101
Waukon ........................563.568.4501
Equity Cooperative Livestock Sales Association Market Contact Information:
We must adjust to an ever-changing market while holding onto our unchanging principles.
2 0 1 9 A N N U A L R E P O R T
8 0 0 . 3 6 2 . 3 9 8 9 | w w w . e q u i t y c o o p . c o m
P.O. Box 1003 • Baraboo, Wisconsin 53913608.356.8311 • 800.362.3989
Fax 608.356.0117www.equitycoop.com
CONNECT WITH EQUITY… Like us on Facebook
Twitter@equity_coop
Instagram @equity_coop
equitylivestockfocus.com
Barron | 715-537-5618
Stratford | 715-687-4101
Altoona | 715-835-3104
Sparta | 608-269-3104
Richland Center | 608-647-6151
Arlington | 608-635-4376
Johnson Creek | 920-699-3588
Lomira | 920-269-4351
Reedsville | 920-754-4361
Bonduel | 715-758-2125
Marion | 715-754-5227
Waukon, IA | 563-568-4501
Monroe | 608-328-8344
Menominee BuyingStation | 906-863-8123
Ettrick Buying Station 608-269-3104
Concern for Community• Helping today’s youth become tomorrow’s leaders
by supporting Future Farmers of America & 4-H Foundations
• Providing scholarships to future agriculture leaders
Working Together• Our board and management team work together to
improve markets and support our member’s needs.
• Working on behalf of our members with other
organizations at national and state levels for the
betterment of the industry.
• Member input through field service reps and annual
and local association meetings.
Education, Training & Information• Work with our future young leaders on the benefits
of cooperatives• Annual District Meetings• Beef Quality Assurance programs
Control is in Your Hands & One Member One Vote• Members control our future
Open to all People Who Can Use Our Services• You don’t have to be a member to use our services
Your Contribution Counts• Our members contribute equitably, and democratically
control the capital of their cooperative
We utilize our unchanging principles and members’ input to guide our cooperative that is focused on our patron’s needs. As a cooperative we value our members who make up Equity Cooperative Livestock Sales Association. We honor their partnership and commitment and
are thankful for their trust. All principles that help make our cooperative successful!
OUR LOCATIONS