“I am grateful for the commitment, agility and commitment of the Land O’Lakes team that has provided remarkable functionality in the face of the fastest changing market dynamics of recent memory,” said Beth Ford, CEO of Land O’Lakes, Inc. “While the fitness and protection of our workers and members remains our most sensitive priority, strong functionality like this allows us to innovate and grow beyond the classic barriers of food and agriculture. “
Profits increased to $54 million in the third quarter due to strong portfolio-wide functionality. Dairy Foods’ profits were higher due to continued strength in retail, which more than made up for declining food place volumes and commodity market volatility due to the effects of COVID-19 The benefits of animal nutrition have advanced thanks to higher sales and a favorable product mix in our Lifestyle segment Agricultural input gains were also higher for the quarter due to higher seed yields, declining working capital, resulting in lower debt financing prices and other specific charge reductions. Closing liquidity $847 million, 70% more than last year’s levels.