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United Farmers Cooperative

 

Big Changes Ahead on August 31

Your cooperative is just days away from becoming United Farmers Cooperative on September 1. There are some transitions that you need to know, including the 24-hour period when our accounting system will be closed down:

  • The August 31 year-end is just days away. This will mark the close of the fiscal year for United Farmers Mercantile Cooperative (UFMC). It will be a partial 8-month year-end for Farmers Cooperative Company (FCC). Going forward, the year-end for United Farmers Cooperative will be August 31.
  • We’re working on year-end inventories. The accounting systems of Farmers Cooperative Company and United Farmers Mercantile Cooperative will be closed down at end of the business day, August 31, for a minimum of 24 hours to transfer all the data. We’ll continue to serve you with products, but no accounting options or grain checks will be available during this time. Any contract balances (grain, feed, energy, agronomy products, etc.), including pre-pay balances placed prior to August 31, will transfer to United Farmers Cooperative.
  • The board of directors for United Farmers Cooperative met July 26. The executive committee includes Larry Weis, president; Kent Swanson, vice president; Mike Carlson, secretary.

We’re also busy preparing for harvest. We’re making space for grain at our locations and look forward to serving you this fall.

Thanks for your support of United Farmers Cooperative. We’re committed to your success.

Commentary
Cotton -

Cotton futures ended Friday trade mixed, but within 5 points of unchanged with December down one point on the session, and unchanged for the week,

Lean Hogs -

Lean hog futures were sharply higher on Friday with the October contract up $2.625 on the session, but posting a weekly loss of 60 cents or almost

Cattle -

Live cattle futures were down more than two dollars in the front two contracts on Friday and August futures lost $3.20 for the week.  Feeders

Wheat -

Wheat futures were sharply lower on Friday.  The front month contract for SRW lost 43.5 cents this week, and Sept HRW futures were down

Soybeans -

Soybean futures finished the session with losses of 6 to 8 3/4 cents. September futures lost 36 1/4 cents or 3.66% on the week.  Prices found

Corn -

Corn futures settled mostly 7 to 7 1/2 cents lower on Friday with Dec16 down 7 cents on the day, and losing 18 3/4 cents on the week.  The PFA

Full commentary...
Market Snapshot
Quotes retrieved on August 26, 2016, 06:19:50 PM CDT
Local Weather

Afton, Iowa (50830)

Current Conditions: Partly Cloudy
Temperature: 70°F Dew point: 66°F
Humidity: 88% Pressure: 30.07 in. Hg
Wind: 8 mph From: Northeast

Forecast

Friday

Hi: 74°
Lo: 64°
Saturday

Hi: 80°
Lo: 66°
Sunday

Hi: 83°
Lo: 68°
Monday

Hi: 83°
Lo: 67°
Tuesday

Hi: 83°
Lo: 67°

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