--- title: Land O’Lakes CEO Beth Ford Wants You to Eat More Butter description: The Land O’Lakes CEO talks about her career path, the state of American farmers and farm workers, and more. canonical: https://time.com/collection/the-ceo-moment/2026/land-o-lakes-beth-ford/ article:content_tier: free article:published_time: 2026-11-02T18:00:47.000Z article:modified_time: 2026-11-02T18:06:01.203Z article:section: Collection Item og:title: Land O’Lakes CEO Beth Ford Wants You to Eat More Butter og:description: The Land O’Lakes CEO talks about her career path, the state of American farmers and farm workers, and more. og:url: https://time.com/collection/the-ceo-moment/2026/land-o-lakes-beth-ford/ og:site_name: TIME og:image: https://static.time.com/v3/assets/bltea6093859af6183b/bltc89b4d6436e5e2e0/6ae22a88187d3108a1900114/Ep_7_Beth_Ford_16x9.jpg?branch=production og:image:width: 1920 og:image:height: 1080 og:image:alt: Land O’Lakes CEO Beth Ford Wants You to Eat More Butter og:type: article twitter:card: summary_large_image twitter:title: Land O’Lakes CEO Beth Ford Wants You to Eat More Butter twitter:description: The Land O’Lakes CEO talks about her career path, the state of American farmers and farm workers, and more. twitter:image: https://static.time.com/v3/assets/bltea6093859af6183b/bltc89b4d6436e5e2e0/6ae22a88187d3108a1900114/Ep_7_Beth_Ford_16x9.jpg?branch=production --- Nov 02, 2026 # Land O’Lakes CEO Beth Ford Wants You to Eat More Butter > Sponsored content. 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Terms and conditions apply. * Savings buckets are a feature of Ally Bank's Savings Account. * No ATM fees from Ally Bank at Allpoint and Moneypass ATMs plus we reimburse for fees charged by other ATM owners nationwide up to $10 per statement cycle. * Early direct deposit offers eligible direct deposits up to two days sooner. * Spending buckets are a feature of Ally Bank's Spending Account. by [Sam Jacobs](https://time.com/author/samuel-p-jacobs/) ## Sam Jacobs Editor in Chief of TIME ## Video: Land O'Lakes CEO Beth Ford Speaks with TIME's Sam Jacobs [Watch (HLS stream): Land O'Lakes CEO Beth Ford Speaks with TIME's Sam Jacobs](https://cdn.jwplayer.com/manifests/sBNNMmpD.m3u8) (33:27)  _Published 2026-11-02. The CEO Moment with Land O'Lakes CEO Beth Ford_ There may be no CEO in America with a resume quite like Beth Ford’s. The leader of Land O’Lakes has worked in publishing, consumer goods, and oil, and now runs one of the country’s leading farming collectives. She is on a mission to explain to Americans the joy and challenges of the farmers who make our food, and to tell the world about what agriculture means for American security and prosperity. As harvest season across the country got underway, Ford joined [THE CEO MOMENT](https://time.com/collection/the-ceo-moment/2026/), our interview series for the world’s most influential business leaders, to talk about her career path, the state of the American farmer, and whether or not we’re eating more butter. **What were your early jobs like?** I taught tennis. I “walked beans,” meaning getting the weeds out of a bean field. I was a house painter, and then I was a janitor. I would have different buildings or toilets or things like that I needed to clean. My jobs were very manual, and I was grateful for the work and I certainly understood the importance of it. **You ran a barge dock in Boston for Mobil. What did you learn?** I was a night warehouse foreman. I was the dock foreman in Boston. You learn about people–you know, some very funny, funny moments. **What is a funny moment on a barge dock in Boston?** I'd say, “Tommy, you need to be on time and we need to put in your teeth.” I don't mean to be dismissive about it because it's the joy and the mess of the human condition. **How are farmers doing in America today?** This is the most expensive crop that anybody's ever put in. Fertilizer prices \[are\] up, diesel is up…steel, everything. They're working under tremendous pressure and a lot of volatility. **What do people get wrong about farmers?** I fear that there's just a lack of knowledge, because we're a land of plenty….Don't we all agree food is important? Don't we agree it is a strength of America that we have food self-sufficiency? If we agree \[about\] that, please don't see this as a political discussion. Instead, this is a business-investment discussion. It is a national-security discussion. I also want to say to folks in urban areas, people aren't trying to flee to the coast. Folks are happy in their towns. They deserve investment. They need investment. It is to all of our advantage to have this. I constantly quote that 19% of the population in rural areas, they comprise 44% of the military. They're investing in this country in so many ways. **Two-thirds of farm workers are non-citizen immigrants. Can we build a sensible, clear immigration policy in this country?** Immigration is a tremendous lever for economic growth through the United States for businesses. We did an analysis that showed that the GDP could grow 3.3% over a trillion dollars in the next 10 years if we get some immigration reform. **Are we eating more butter today?** Oh, yes. We continue to. We’re eating more cheese as well, although we still trail the Europeans, so everybody should get busy with that. **We take credit for that since we once put a** [**big beautiful swirl of butter on the cover**](https://time.com/magazine/us/2863200/june-23rd-2014-vol-183-no-24-u-s/) **with the line, “Eat butter.”** I’m so grateful. ## Transcript [00:00] Everybody knows our butter. Love it. [00:01] Full fat is back in vogue. [00:03] Whole milk. Yay, cheese! Let's do it. [00:05] Are we eating more butter today? [00:07] Oh yes, we're eating more cheese as well. [00:09] Although we still lag the Europeans, [00:11] so everybody should get busy with that. [00:13] Beth Ford, welcome to the CEO moment. [00:15] Beth is a member of the time 100 land O'Lakes has been [00:19] named a time 100 company that was in our first issue. [00:22] And our former sister publication, fortune, [00:25] called Beth one of the most urgent voices [00:27] in American business. [00:28] Beth, let's start with how you [00:30] got to where you are today. [00:32] How did farming shape your life? [00:35] I grew up in Iowa, um, [00:37] obviously a farm state, [00:39] but I did not grow up on a farm. [00:41] But one of the first jobs I had was detasseling corn. [00:44] You got on the bus, get up super early, [00:46] go out detasseling corn. [00:48] Okay. Hang on, city kid. [00:49] What does corn mean? [00:51] Well, so you're talking about [00:53] growth of the corn on the stock. [00:56] A lot of this is automated now, [00:58] but back in the day you would go [00:59] out and actually my sister, [01:01] my older sister, had the best job [01:02] because she would be able to drive [01:03] the piece of equipment that the rest [01:05] of us were hanging off of. [01:06] And it was hot. And you were detasseling. [01:09] So my first exposure [01:11] to actually being on the farm was there. [01:15] Having said that, when you grow up in Iowa, [01:17] you are surrounded by rural areas, farms. [01:21] You would get the crop report in the morning. [01:23] I remember my mom having the AM radio. [01:26] I was actually shocked when I moved to Los Angeles [01:28] when I was 22 and 23, and there was a crime report. [01:31] I was like, there's crime. My goodness. [01:33] You traded the crop report for the crime report? [01:36] Exactly. I was like, [01:37] this is really happening. [01:38] When I joined land O'Lakes, [01:40] which is about 15 years ago, [01:42] I didn't really understand the food system, agriculture, [01:47] and in fact, was living in [01:48] New York City and then was called and asked if I was [01:51] interested and probably then got a little deeper [01:54] into agriculture and really the food system more broadly. [01:57] You've had a diverse career, [01:59] and we'll get into some of those chapters. [02:00] But going back to those early days, [02:02] what were your early jobs like? [02:03] I have seven siblings. [02:05] Um, my father was a truck driver. [02:08] My mother was a nurse. [02:10] We were very much working class kids. [02:13] Um, so early days, [02:15] I was grateful for any job. [02:16] I was a cashier. [02:18] I taught tennis, I walked beans, [02:21] meaning getting the weeds out of a bean field. [02:23] I was a house painter, [02:25] and then I was a janitor. [02:28] I would have different buildings or [02:30] toilets or things like that that I needed to clean. [02:33] So my jobs were very [02:34] manual and I was grateful for the work, [02:37] and I certainly understood the importance of it. [02:41] So you're cleaning toilets, [02:42] you're teaching tennis, you're walking the fields. [02:45] What was your your favorite of all those things? [02:47] I mean, tennis was great. [02:49] Tennis was. [02:49] Great. That was that was great. [02:51] But I think all the work has value. [02:53] And actually, to this day, [02:54] I feel grateful because actually my career really [02:57] has been a lot of the operating sides of businesses, [03:00] supply chain. Things like that. [03:01] So I'm constantly manufacturing [03:03] facilities on the floor and everything. [03:05] And I always think, geez, [03:06] this is my father, this is me. [03:08] This is my family. [03:10] It reminds you of where you came from. [03:12] Exactly. And I think it is important work, valuable work. [03:16] One of those later positions working at mobile. [03:18] You ran a barge dock in Boston. [03:21] What did you learn there that remains useful to you? [03:23] Oh. Many things. I was in [03:24] New Orleans for about 9 or 10 years. [03:26] Mobile spent a lot of time on training. [03:29] What happens if there's a spill? [03:30] How do you work with different contract negotiations? [03:33] What happens in an emergency? [03:36] All of those areas of leadership. [03:38] One of the great things for me is early in my career, [03:42] I had responsibilities as [03:44] a leader of either a facility or of a shift. [03:47] I was on night warehouse foreman. [03:49] I was the dock foreman in Boston. [03:51] You learn about people you know, [03:53] some very funny, funny moments. [03:55] What is a funny moment on a barge dock in Boston? [03:58] Well, like Tommy, you know you [04:00] need to be on time and we need to put our teeth in. [04:03] I mean, come on, man, let's do this. [04:05] You know, that's funny. [04:06] And I don't mean to be dismissive about it, [04:08] because I think it's the joy and [04:10] the mess of the human condition. [04:12] You know, I think to myself, [04:13] boy, these are people. [04:15] They have families or [04:16] they're somebody's son, daughter, whatever. [04:18] And that is the most important thing for my perspective, [04:22] the joy of it and the mess of it. [04:24] And I learned as my career evolved, [04:27] how I enjoyed that, [04:29] how important that was to me, [04:30] how much energy I took from it. [04:32] I like people, intensive businesses. [04:35] And I say this because I did at mobile, [04:37] had the great opportunity to be part of a trading team. [04:40] You know, they have an oil trading team. [04:42] That's a great job, [04:43] is considered very sexy and they do it really well. [04:46] And I was an analyst and I, [04:48] you know, my master's in finance and I thought, well, [04:50] this is interesting intellectually [04:52] and I don't take as much energy from it. [04:54] I like the people, intensive businesses, [04:57] that leadership moment, that opportunity with others. [05:02] I found out about myself that that is something that [05:05] is important to me and that jobs that do things, [05:08] that make things that move things are terrific. [05:13] For me. I, I, I have a lot of passion for it. [05:15] You've cited research that says [05:18] the most important decision you can make in [05:20] your career is who you marry. Do you think that's true? [05:22] Oh, absolutely. [05:24] Why? [05:24] Because I think if you're with [05:26] the right spouse, I certainly am. [05:29] My wife and I have been together for 34 years. [05:31] Wow. We have somewhat similar backgrounds. [05:34] Our values are aligned. [05:35] She's super intelligent. [05:37] Accomplished. I'm grateful because [05:40] I think if you have the right partner, [05:42] they're kind of your safe space [05:44] and they're also the person. [05:45] And I'm going to guess if I asked you [05:47] this question about your wife, [05:49] you might say they can really call you out. [05:51] Yeah. Well, when should I. Mhm. [05:54] I don't think you're showing up the right way. [05:56] Or how are you thinking about that? [05:59] You know, when I hear that from her, [06:00] I recognize I may need a course correction there. [06:03] And, you know, your career isn't separate from your life. [06:06] I don't make career decisions [06:08] absent an understanding of what [06:10] my life evolution is or [06:11] my family's life and Jill's career. [06:15] Right. I'm not in isolation thinking of this. [06:18] We don't usually talk about it that way. [06:19] I think it's a mistake. [06:21] I mean, we're not spending every minute [06:24] in the building doing our work. [06:26] We're thinking about our life in general. [06:29] How does this fit into my family, [06:31] where they are right now? [06:32] Sometimes I think it's [06:33] important to sit right where you are. [06:35] When I was in publishing, [06:37] my children were very young in New York, [06:39] and I was probably 6 or 7 years into that. [06:41] And I was thinking, [06:42] I really need something fresh and new. [06:45] But I knew as well, [06:46] listen, I have children. [06:47] I have a spouse. We have bills to pay. [06:50] My children need to be [06:52] settled And going on their path of growth. [06:56] And thus sitting right here is really where I should be. [07:00] It's not always what is the next thing or the next thing. [07:03] In fact, as I got the call to come to land O lakes, [07:06] I didn't think I was going to take that. Why not? [07:09] Because I was I was happy we were we were like, [07:11] we're kind of New Yorkers now. [07:13] You know, her job was a great job. [07:15] And mine was. And our kids were getting settled. [07:18] And then I went to [07:20] Minnesota and I heard from Chris Polczynski, [07:24] who was the CEO at that time, [07:25] and from the Chro. [07:27] What how they thought of, [07:29] you know, the challenge of global food production, [07:32] population growth, the fact that this was a cooperative, [07:36] the intimacy of that structure, how they thought of that. [07:39] And I thought, huh. Some of [07:40] the operating experience I had and [07:43] the intention of the work that I wanted to [07:46] do is resident in this business. [07:49] And what a great opportunity to do important work. [07:52] It was the right thing for your life. [07:53] It was the right thing for my life. [07:55] And it was the right match [07:57] for what I viewed as the importance of the work. [08:00] You've worked in everything from from oil [08:03] and energy to publishing to what you do now. [08:06] What's been the hardest? [08:07] Well, first of all, you know who doesn't [08:09] make that career switch? [08:10] I think you have had the the most atypical career [08:13] of anyone I've spoken to. [08:15] Well, I mean, it's just intellectually interesting to me. [08:17] And I was also trying to grow. [08:19] I've moved across six industries, seven companies. [08:23] I sat on boards in different industries. [08:26] I think you have to have the humility to ask [08:28] questions and to say, I don't know. [08:30] And sometimes that's hard. [08:32] And I think especially in [08:33] my role, there's an expectation. [08:35] You should know everything. [08:36] Right? [08:36] You should know more than anyone else at the table. [08:38] That's why I say I hate to disabuse you of this notion. [08:40] I do not know this. [08:42] Please help me understand how you think about it. [08:44] So you have to have the humility to ask those questions. [08:49] Most of the time when I've thought this is hard, [08:52] I thought to myself. [08:53] I know I'm going to learn something, [08:55] but I know I'm going to be about six months into [08:57] this job and this noise is going to come at me. [09:00] Mhm. [09:01] And it absolutely did. [09:03] And so what I would say is there's a cultural fit, [09:07] an intellectual fit of how do you think about [09:11] yourself as a leader or what you're [09:13] learning or how you're trying to convey. [09:15] And some are really good matches and some are [09:18] important learning experiences for you, [09:21] where you can also make an impact in the business. [09:24] And then in some instances, [09:26] and in this particular one I'm thinking of, [09:28] it was more of a sharp elbowed environment. [09:30] Mhm. [09:30] And I understood that [09:33] that was likely to come at me at a certain point, [09:36] and I would have to decide [09:38] how I was going to think about that. [09:40] But you still wanted to be in that environment. [09:42] I knew that I needed that experience, [09:44] I knew that there were enough positives. [09:47] You've said it's important sometimes to to sit [09:49] in your role and not think about the next chapter. [09:51] You've worked in so many different industries. [09:53] Is there one that you'd like to [09:55] try when this chapter is over? [09:56] Well, hey, listen, I'm getting to be a woman [09:58] of a certain age, okay? [10:00] I'm not sure I'm going to, [10:02] um, jump out of this. [10:04] The reason is, I think the work that [10:06] I'm doing is the most important work of my life. [10:09] And I believe my responsibility has been to [10:14] inform folks here and [10:17] elsewhere about the importance of the food system, [10:21] how we should understand [10:23] both the opportunities and the risks and [10:25] the challenges in the food system, why? [10:28] I think it's a national security concern [10:31] and needs and deserves investment. [10:33] And so I, I can't imagine another role truly, [10:39] that has more in it [10:41] for the importance of the work than the, [10:44] the job that I'm doing right now. [10:46] So let's get into that work. [10:48] How are farmers doing in America today? [10:51] It's a challenge. There are [10:53] different parts of the sector. [10:54] Um, but profitability has been a major concern for, [11:00] for quite some time. [11:01] You know, last year. [11:03] And thank you to time for publishing the op ed about [11:06] the multiple issues that were coming at growers, [11:10] especially at that point, [11:11] corn, beans, things like that. [11:13] Um, they had not made money for three years. [11:17] And I think last year, maybe, [11:18] maybe less than 5%, [11:19] fewer than 5% made money. [11:21] And this year, this is [11:22] the most expensive crop that anybody's ever put in. [11:25] Right. Fertilizer prices up. [11:27] Diesel is up. [11:28] I mean, name that, steal everything some forward, [11:31] sell their crop to minimize [11:33] or put a floor under their risk. [11:35] I mean, there's any number of variables, um, [11:38] about how somebody might consider their profitability, [11:41] how diverse they are. [11:43] Many, by the way, [11:45] work off farm to get health care. [11:48] Some of them even defeat their own family. [11:50] You know, I think it's 80 to 90% of [11:54] the counties in America that [11:55] index food insecure are in rural America. [11:58] Um, and I think it's shocking to me. [12:01] Particularly when they're living next [12:02] to our major food sources. [12:04] That's right. Or the farmers themselves. [12:07] And so back to how are they doing that is [12:09] so fraught and multi-layered. [12:13] We're seeing equity levels decline. [12:15] We're seeing our financing business kind of, [12:19] I don't want to say oversubscribe, [12:20] but it's a pretty aggressive. [12:22] Borrowing from you because they're fearful about. [12:25] They won't be if they want to make sure [12:26] they can get an operating loan. [12:27] We make it efficient. [12:29] And at the same time, [12:30] I'm sure they're trying to get in front of [12:32] any interest rate increase. [12:33] We have fixed rate interest rates, [12:35] but to go from 100 million to 1 billion same time [12:38] year over year is a big jump. [12:40] And it is noteworthy from my perspective, [12:43] what's happening in cash position [12:45] in the country, at farm level, [12:47] at the local retailer and everything is so, [12:49] you know, I'm looking at all that and saying. [12:51] You know, there's stress there eating [12:53] into their equity there in harvest. [12:55] What they're already doing is planning [12:57] for next planting season. [12:59] And what does that cost profile look like? [13:02] And how do I need to get in front of my risk? [13:04] And how do I need to get in front [13:05] of my financial position? [13:07] One of the trends you pointed to in that piece that [13:10] you wrote for us at time was consolidation. [13:13] There are fewer and fewer farmers today. [13:15] You said something like 24,000 [13:17] dairy farmers in the United States. [13:18] And for those of us who have milk as part of our lives, [13:22] which is to say pretty much all of us, [13:23] that's an astoundingly small number of [13:25] individuals who are creating [13:27] such an important food source. [13:28] What does that consolidation [13:30] mean for the individual farmer and for the industry? [13:33] Well, I mean, they consolidate [13:34] because they must you know, [13:36] you have some who, [13:37] when they are able to make some money, [13:40] they hold it on their balance sheet [13:43] or whatever they may maybe to get operating loans, but B, [13:46] they're trying to reinvest in [13:47] their land or their assets and things like that, [13:50] so they can sustain what drives that consolidation. [13:53] What's driving is you have [13:55] a domestic cost basis playing in a global world. [13:58] So the job especially is profound for dairy farmers. [14:02] Two thirds of our business or more [14:05] is really in the other parts of the ag space. [14:07] But let's talk about dairy, [14:08] because dairy actually the heritage of land O'Lakes, [14:12] founded in the 1920s, 105 years old. [14:15] Congratulations. [14:16] Thank you. Dairy farmers trying [14:18] to get power in the channel [14:19] get their sweet cream butter into [14:21] the population centers in the northeast. [14:22] So they consolidated and they [14:24] got into a marketing cooperative, [14:25] which is how that started. [14:27] And then they formed a supply cooperative [14:29] around feed and things like this. [14:31] So they're trying to get power in the channel. [14:33] They're playing in a global market [14:35] for every pound of butter we manufacture. [14:37] You manufacture £2 of nonfat powder. [14:41] And that's something that is an input that [14:44] goes into products around the world. [14:46] Chocolate. Okay. And that's a global market. [14:49] It's heavily volatile. [14:51] And what happens is when you're playing against [14:54] global players in New Zealand or elsewhere. [14:57] One day out of 6 or 7 needs to be [15:01] exported because we do have [15:03] the most productive farmers in the world. [15:06] And so that export market is critical. [15:09] It's complex. [15:10] It's you know, I always say there's like [15:12] three guys in a garage who know this and, [15:15] and they're the ones making choices in the market, [15:18] but it is that complex. [15:20] And so that market force, [15:23] no different than any other industry drives consolidation [15:26] because you must get more scale to sustain yourself. [15:29] You mentioned that American farmers [15:30] are the most productive in the world. [15:32] What's driving that productivity today? [15:34] I think it's some ingenuity as I looked at it. [15:36] You know what, 2% increase in herd size, [15:39] 2 to 4% over the of the last number of years and [15:42] 39% increase in milk production. [15:45] I know I get a little geeked out on these things, [15:47] but they were like, well, Beth, you know, yes, [15:49] we are still short, but, you know, [15:51] carcass size for, uh, [15:53] for cattle has gone up 45%. [15:55] The animals are bigger. [15:56] The animals are bigger. [15:57] Cattle farmer is looking at genetics is looking at [16:01] feed ration is looking at any number [16:03] of strategies to say, [16:05] how can I make sure that [16:07] I have the most productive animal? [16:09] So when I look at this and I say that, [16:11] or we've tripled productivity on the acre, [16:14] I say American farmers, innovators, [16:18] entrepreneurs using any number of [16:21] elements to be the most productive farmer in the world. [16:24] And I believe they are. [16:25] Plus, I like to say we're up here in the good dirt. [16:28] You and I have talked about in the past, [16:30] how you function as a translator, [16:31] that there aren't many people who [16:32] move from the places that you move from, [16:35] that you go visit the farm and then you go [16:36] to the boardroom that you're in rural America. [16:39] You're here in New York City. [16:40] What gets lost in translation? [16:42] What do you think people in the farm communities [16:45] don't understand about people who live in New York? [16:47] And what do people in New York not [16:48] understand about the people on the farm? [16:50] I fear that there's just a lack of [16:53] knowledge that rural communities need investment. [16:55] It is to all of our advantage to have this, [16:58] because investment is required to set [17:00] the right operating environment for food production. [17:03] The opportunity when I'm in population areas like this in [17:06] New York is is having that conversation. Don't we agree? [17:10] It is a strength of [17:12] America that we have food self-sufficiency. [17:15] If we agree that, [17:16] please don't see this as a political discussion. [17:20] Instead, this is a business investment discussion. [17:22] It is a national security discussion. [17:25] Still, 22% of rural America lacks broadband access. [17:29] And we know that that is [17:31] a great enabler for job creation, [17:32] for health care, for educational outcome. [17:35] And we should want that to [17:36] make sure our greatest strength, [17:38] our food system is [17:40] maintained and we have the right operating environment. [17:43] And so I fear that [17:46] that translation needs to occur to inform, [17:49] because most of the time when I inform people like, [17:51] really? Are you kidding me? [17:52] I didn't know that. Thank you for telling me that. [17:55] And I think in rural communities, [17:58] there may be a fear that folks think that [18:00] they may not be quite as fast thinkers. [18:04] There's a fear of that. [18:05] Well, I've had people ask me that. [18:07] Do people think we're stupid? [18:09] How do you answer that question? [18:10] I said, first of all, [18:12] I want you to know I've lived [18:14] in rural areas and urban areas. [18:16] My observation is that in urban areas, [18:19] they want their neighborhood to be just like your town, [18:23] invested with each other, [18:24] taking care of each other's children, [18:26] know the butcher, know the whomever. [18:29] I think that the opportunity is to [18:31] inform and assume positive intent. [18:34] Now, I also want to say that folks in urban areas, [18:37] people aren't trying to flee to the coast. [18:39] Folks are happy in their towns. [18:42] What a privilege. [18:44] What a treat to see [18:46] this community involvement where [18:48] they're talking to each other, [18:50] where they're trying to make it better for all of them. [18:54] I mean, it's remarkable. [18:56] And I think all of us want that [18:57] in the communities in which we live. [18:59] Part of what you're trying to translate is [19:02] that privilege that even though [19:03] there are stresses that face these communities, [19:05] that there are challenges for farmers, [19:07] that there's so much joy that [19:08] lives inside that experience. [19:10] I think so. I, you know, [19:11] I'm glad that you you said it very clearly. [19:15] There's joy, there's humility, there's hard work. [19:21] You know, three in the morning, [19:23] the pump of the manure pits broken. [19:25] It's freezing. They're out there fixing it. [19:27] I mean, how can you not [19:28] admire and be grateful for the work [19:31] that you see folks undertaking on our all of our behalf? [19:35] I constantly quote 19% of the population in rural areas. [19:39] They comprise 44% of the military. [19:41] They're investing in this country in so many ways. [19:44] Are the decisions that the Trump administration is making [19:47] leading to smart investments in rural America? [19:51] First of all, we need [19:52] the administration to be successful. [19:54] I want that. When he was in [19:56] the first administration, I did go to the white House. [19:58] What was that conversation like? [19:59] It was productive. Um, he [20:01] had seen a show where I did 60 minutes. [20:03] Lesley Stahl did this interview and was [20:05] talking about the Farmers Advocate. [20:08] So he invited me [20:09] into the white House to have this discussion. [20:11] I brought in some farmers, um, with me. [20:14] I think it was at the time that the FCC [20:16] was working on a rural broadband initiative. [20:19] This is before the infrastructure bill that was passed. [20:22] And I said, Mr. President, you know, [20:23] one thing that I was really hoping for is [20:25] that our chief technology officer could be [20:28] part of that commission [20:30] because we'd like to participate in there. [20:32] And he said, absolutely. [20:34] So our Chief technology Officer, Trevor Kelly, [20:37] became actually the chair of that to look at [20:40] investment required [20:42] in these rural communities and rural broadband, [20:44] and from all of the work there and other partners. [20:48] What we got to was this infrastructure investment. [20:51] Now it's like the rural electric initiatives [20:53] in the 1930s, right? [20:54] It took some time. And so [20:57] that stepped into the next administration, [20:58] the vitamin, can I stop you there and went back. [21:00] Should we expect more? [21:02] Shouldn't we be able to move faster [21:03] today than we did a century ago? [21:05] I would hope so. And that requires permitting reform. [21:08] It requires, you know, [21:10] what is the intention in [21:11] every administration is going [21:12] to have a different view of that. [21:14] And I think that's what we saw. [21:16] And what we've seen here [21:18] in this current administration is that [21:19] they kind of started over with a different lens. [21:23] That's not a good or a bad. It is what it is. [21:25] And, and what we're seeing is trying to get some traction [21:28] to move more quickly because it is it is critical. [21:32] The other thing that I think the administration gets [21:34] correctly is the necessity of trade. [21:36] You hear a lot of things about [21:38] whether the trade agreement is here or not. [21:41] But again, 20% of ag production is exported. [21:45] We need markets. [21:46] It helps the cost basis [21:48] of the United States and helps the farmer. [21:51] Do you think the administration understands that? [21:53] They do understand it. [21:54] The trade Ambassador and Doctor Callahan, [21:57] who's the ag trade ambassador, [21:58] is part of that um are involved in those conversations. [22:01] Again, what I'm trying to assess [22:04] is the resilience and [22:07] the specifics of those trade agreements. [22:09] Now I'm going to say in the last administration, [22:12] they did not have an active trade agenda, [22:14] and it was to the detriment of agriculture, [22:17] which absolutely requires it. [22:19] So here the administration has [22:22] said we're going to have a priority [22:23] on trade arrangements. [22:24] Is that a good or bad? [22:25] Well, I need to see the detail. [22:27] I tend to be a detail person. [22:28] This is an operating business and I [22:31] want to see it like where's that cargo moving? [22:33] How much is in that cargo? [22:35] How do I match it against what was [22:36] in the original trade arrangement? [22:37] But what the administration does get [22:39] correct is the importance of trade. [22:41] Now I need to see how [22:43] those trade arrangements are now operational. [22:46] And how might I consider that in terms of [22:49] the risk profile of both the business and of the farmer? [22:54] Two thirds of farm workers are non-citizen immigrants. [22:58] It seems to me one of the biggest issues [23:01] for rural America and for farmers, [23:03] and I would assume for land O'Lakes, [23:05] is the question of can we build a sensible, [23:08] clear immigration policy in this country? [23:10] Do you think that's happening? [23:11] Do you have any optimism that we can. [23:13] Well, I'm going to say I'm [23:15] grateful for Chair Thompson, G.T. [23:17] Thompson, State of Pennsylvania and [23:20] others we've worked with over the last number of [23:23] administrations on the Farm Worker Modernization Act [23:26] that passed the House twice on a bipartisan basis. [23:29] Everybody's pretty aware that [23:31] some work on immigration is critical. [23:33] Visa reform would have to include 24 over seven, three, [23:36] 7365 kind of visa availability [23:38] for workers right now that's seasonal. [23:41] So we don't really have that. [23:42] So if you're a dairy farmer or cattle farmer, [23:44] etc., it is very difficult. [23:45] So do we think we make progress? [23:47] I think that there's another bill that, [23:50] uh, that Chair Thompson has put out. [23:52] What I'm hopeful to see in the farm bill is [23:55] some movement on this particular point on farm workers. [23:58] I'm going to say immigration writ large, [24:00] because I do chair this for the Business Roundtable. [24:03] Immigration is a tremendous lever for [24:06] economic growth for the United States, for businesses. [24:08] We did an analysis that showed that the GDP [24:11] could grow 3.3% over $1 trillion in the next ten years. [24:15] If we get some immigration reform, [24:16] we know there are industries [24:18] specific that have shortages of workers. [24:21] I'll use construction as an example. [24:23] So I think an opportunity [24:25] is to have a thoughtful discussion. [24:27] We start with we want [24:28] thoughtful immigration and we want border security. [24:31] And at the same time, we need to have [24:33] a productive conversation about, [24:35] the needs in the country [24:37] and immigration as an economic lever. [24:39] The president is a builder. [24:41] He's surely worked with [24:42] immigrant labor throughout his life. [24:44] Do you feel like he brings any kind of [24:45] personal experience or perspective to this? [24:47] I think he absolutely does. [24:49] You know, there's not universal agreement. [24:50] I don't think there's anything universal agreement [24:52] in the white House or in the administration. [24:56] It's a sensitive topic. [24:58] I get to see it from a lens of, you know, twofold. [25:02] One, of course, very directly in the ag sector. [25:05] And then secondly, as [25:06] a business and economic growth lever, [25:09] they're looking at a variety of things. [25:10] But I think that he certainly [25:12] understands the role that certain immigrants have played. [25:16] And certainly as a builder, [25:17] he would understand that. [25:18] I hear you making two points that maybe are in tension. [25:21] One, how important are these industries are to America, [25:25] how important food security is to America, [25:26] and also that your members compete in foreign markets. [25:30] And I'm curious, when you look at those foreign markets, [25:32] are there advantages you see in [25:33] other countries that you wish we could, [25:35] we could duplicate here. [25:36] Well, what I've seen is [25:37] very deliberate investment in ag research. [25:40] So here I'm going to use China as a good example. [25:43] They've got a playbook. [25:45] Okay. And they're very directive about [25:47] what farmers should plant where when blah. [25:50] They're also out investing us in [25:53] terms of ag research funding over seven I want to [25:55] say 70 to 80% of of patents and [25:59] gene edited patents in the food space are Chinese. [26:02] 70 to 80% of the patents are coming from China. [26:05] Yeah. And by the way, you know, [26:07] um, a lot of the, [26:08] what I would call intermediaries, [26:10] the technicals that come in that [26:11] get into crop protection items or, [26:13] um, by the way, animal vitamins [26:15] were the largest purchaser of animal vitamins. [26:17] We have a Purina business, right? [26:19] Um, those come from China. [26:21] So these areas are interconnected. [26:23] What I wish we did the same thing with China. [26:25] No, we're we're capitalists. [26:27] We're we want the entrepreneur, [26:29] the farmer to make these decisions. [26:31] What I do see is [26:32] an intentional investment that I advocate for, [26:35] that we continue to [26:37] invest appropriately in these communities. [26:39] We want technology, roads, ports, [26:42] all of these things that will continue to maintain [26:45] the strength of the US in the food system. [26:49] One thing I often hear you say [26:50] proudly is we have the good dirt. [26:52] What does the change in climate mean [26:54] for your growers and for your farmers? [26:56] The bigger issue is water, water availability, [26:59] fresh water, water usage by farmers and by investments. [27:03] You know, water decisions in [27:05] counties and cities and states. [27:08] Those are made locally and they can [27:10] have profound global implications. [27:11] You look at the Colorado River, [27:12] what's happening down into the Imperial Valley. [27:15] Look at how that works with [27:17] developers, all of these things. [27:19] So how are we thinking about, [27:20] as you said, the good dirt. [27:21] I'm looking at moisture levels, drought conditions, um, [27:26] investments in water availability, [27:29] you know, even the USDA. [27:30] And I want to say it's been a minute since I saw [27:32] this report was indicating by 2030, [27:35] freshwater demand would outstrip supply by 30 or 40%. [27:39] I mean, this is near end. [27:41] This is 3 or 4 years from now. [27:42] We see this stress different times, don't we? [27:45] We see it, as I mentioned in Colorado, [27:48] we didn't get enough snow or we have too much water. [27:51] Or is the water where we need it when we need it? [27:53] I go back to, by the way, broadband. Why is that? [27:55] Why am I bringing that up? Because I [27:57] had a Nebraska farmer say, oh my gosh, [27:59] I'm so happy to get broadband because I don't have [28:00] to turn on my sprinklers everywhere. [28:02] I now can be out [28:04] elsewhere and I can turn it on, you know, [28:06] for just particular one field, [28:08] because I know that I'm going to get rain over here. [28:10] And they were never able to see that. [28:12] So many of us take, take for granted. [28:13] I can just control everything in my home with my phone. [28:16] It makes a more efficient farmer. [28:18] Water is critical. [28:19] So if you if you say [28:20] the the good dirt part of that is what is the condition? [28:24] What is the water availability? [28:27] Okay. Land O'Lakes is one of [28:29] the only cooperatives in the fortune 500. [28:32] You do not answer to shareholders or investors. [28:34] You answer to farmers and your members. [28:36] Is that weird for you as an executive? [28:38] No. What I would say is there's [28:40] an intimacy to this model. I'm grateful. [28:43] The questions I can tell you are very detailed. [28:45] They know the business because it [28:47] is the business of their business. [28:49] You get better questions [28:49] from your board or from your farmer. [28:51] I get well, they are on the board [28:53] and the local rural retailers are on the board. [28:55] They are very sophisticated and I am out on their farms. [28:58] I do know their communities, [29:01] their families, all of them. [29:02] So it is quite intimate and at the same time it is [29:05] a business and our board members are elected. [29:10] I jokingly say to new board members, [29:13] you know, we didn't get elected [29:15] to the House of Representatives. [29:16] It was fortune 500 board member here. [29:18] And so we need to make decisions, [29:21] not just about what the impact is on your farm, [29:23] but what is the impact for our business. [29:26] How would I recognize it as different? [29:29] They are long term thinkers [29:30] about the investment and the enablement. [29:33] Our success starts with the members success. [29:35] So I'm trying to enable or we're enabling our investments [29:39] because that return is put back as patronage to a member. [29:45] And at the same time, if you were any other CEO, [29:47] you know, I'd meet with the rating agencies. [29:49] I'm meeting with, you know, the debt holders, [29:52] things like that that are no different than anybody else. [29:55] I can't access capital markets. [29:57] I'm not out there putting shares out. [29:58] Rather, we're investing very deliberately. [30:02] I think one of the biggest challenges [30:03] that we've talked about is [30:05] the anxiety about passing on [30:06] your farm to the next generation. [30:08] What are farmers telling you today about [30:11] whether that feels possible and doable for them? [30:13] You know, a land price has gone [30:15] up maybe 45% over the last number of years. [30:18] And, and I think that the good news of that is [30:21] that as collateral or as a basis for an operating loan, [30:25] the hard part is it makes it very [30:26] difficult for new farmers to get into [30:28] a space more farmers over [30:29] the age of 75 than under the age of 35. [30:32] The issue really goes to a financial issue. [30:35] Are they able to step into farming? [30:38] There are a lot of younger people [30:39] who want to be in agriculture, [30:41] who want to be in farming, [30:43] and they find it difficult to [30:45] get the appropriate financing to do so. [30:48] When there's losses and they're having to use [30:51] their equity because they're using [30:53] that to get an operating loan. [30:55] The comments I've had made is that [30:57] I'm eating into the equity of the next generation. [31:00] This is very difficult if you're the third, [31:03] fourth, fifth generation, right? [31:04] There's tremendous emotion there. [31:07] This desire to hand it to [31:08] the next generation and this idea that [31:10] you're you're the guy or gal who can't [31:11] make this work for the future, [31:13] that is a lot of pressure. [31:15] And so we certainly see that very clearly, [31:18] that emotion for sure. [31:20] We end each of [31:22] these conversations with what [31:23] we call the leadership test. [31:24] Okay. Please answer the first thing [31:27] that comes to your mind. [31:28] Uh oh. [31:28] What's the best summer job you ever had? [31:30] Teaching tennis. [31:32] What's your most used phrase? [31:34] Our success starts with member success. [31:36] How many direct reports do you have? [31:38] 12. [31:39] When do you feel most focused? [31:41] First thing in the morning, 5 a.m.. [31:43] When are you not checking your phone. [31:46] In the gym? And when I go to bed? [31:49] How many minutes a day is your commute? [31:52] Are we in road construction time in Minnesota? [31:55] Right now, I'd say it's 50 to 60 [31:58] on a normal basis. It's 35. [32:00] How many hours of sleep a night do you get? [32:03] I want to get eight. [32:04] I probably get seven. [32:06] Pretty good. Have you ever been fired? [32:07] No. [32:08] What is your coffee order? [32:10] Vanilla. [32:10] Red eye. How many meetings a [32:12] day do you have? On a normal day. [32:13] 5 or 6. [32:15] What's the one question you ask in every job interview? [32:18] Tell me what role you played in your group project. [32:21] And I'm not looking for whether the leader or not. [32:24] I'm wondering how they showed up in that environment. [32:27] And I'll say John's in your group. [32:29] And you know, like John, [32:31] John never gets his stuff done. [32:33] I always have to carry John's water. [32:35] First of all, don't be John. [32:36] Second of all, how do you deal with that situation? [32:39] Mhm. When was the last time you changed your mind? [32:42] What was recently? [32:43] I'll just leave it at that. [32:45] What's the book on leadership you recommend? [32:47] I don't read books on leadership, [32:49] I read history, I love David McCullough. [32:52] I've read a number of his pieces. [32:54] One of the things, it just sticks in [32:55] my mind, you know, history. [32:57] It didn't have to turn out this way. [32:59] It takes one person or some people to take [33:03] action to make it [33:06] happen the way it is happening right now. [33:08] And I think it's a really important [33:10] leadership moment for me to [33:12] remind myself it's our responsibility [33:15] to try to shape the future. [33:16] And that's the way I take it from him. [33:18] Beth Ford, thank you for joining us on the CEO moment. [33:21] Thank you. 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