2013 Pork Management Conference Your Pork Industry Investment LOL Finance Company Dan Glienke CEO June 20, 2012.

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Presentation transcript:

2013 Pork Management Conference Your Pork Industry Investment LOL Finance Company Dan Glienke CEO June 20, 2012

Who are we…. Subsidiary of Land O’Lakes, Inc. Focus on the livestock industry and projects for the benefit of Land O’Lakes and its members. Lend to swine, cattle, dairy and poultry producers. Loan funded in 27 states. Six loan officers: –Iowa (2), Minnesota, Nebraska, North Dakota and South Dakota loan approvals 120% increase over 2011.

Loan types Type% Swine57 Cattle25 Real Estate16 Other2

Lending Perspective Financial Criteria Equity to Asset Ratio30% to 50% Current Ratio1:1 to 1.75:1 Repayment Capacity110% to 120% Loan to Value65% to 85% Criteria based on amount of retained production, marketing and input cost risk. Lend to successful livestock systems. Proven production history. Competitive production costs. Sound marketing plan. –Margin management. Processor relationship.

Margin Risk Quarter03/13/201207/26/2012ISU returnVariance 2 nd 2012$23.98-$8.03$(15.95) 3 rd 2012$23.46-$(17.44)$(40.90) 4 th 2012$12.84$(35.99)$(33.83)$(47.23) 1 st 2013$12.84$(24.73)$(32.96)$(45.46) Average$18.42$(18.96)$(37.38) “Corn was supposed to go down” No one can predict where to market is going. Loan covenant: Marketing plan with the objective to actively monitor and manage forward margins in an effort to reduce or eliminate the effect of adverse commodity prices.

Thank you!