WEBVTT - Responsible Production While Supporting Farmers

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<v Speaker 1>This is Bloomberg Business Week with Carol Messer and Tim

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<v Speaker 1>Stenebek on Bloomberg Radio. Agriculture. I know you talk about this.

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<v Speaker 1>I know we do, Matt a lot. It's a leading

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<v Speaker 1>source of pollution in many countries. We often talk about

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<v Speaker 1>the companies that are looking to basically up in the

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<v Speaker 1>egg industry, figure out a more sustainable and less impactful

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<v Speaker 1>way on the climate to produce all the food that

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<v Speaker 1>we need everywhere.

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<v Speaker 2>Yes, and you know a lot of people say reduce

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<v Speaker 2>the cars or maybe lower the speed limit, and I say,

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<v Speaker 2>look at the cows, look at the cas I like

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<v Speaker 2>driving fast, but maybe that's a little selfie we need

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<v Speaker 2>to do all. The thing is I also love eating

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<v Speaker 2>steaks and butter, so I need those cows.

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<v Speaker 1>I'm going to tell Tom Ryan, our next guest, how

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<v Speaker 1>much you love butter. Tom Ryan is president of Jutera.

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<v Speaker 1>It's the sustainability business of Lando Lakes, who makes butter.

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<v Speaker 1>Of course, as you know, he joins us on Zoom

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<v Speaker 1>from Minnesota. Tom, Nice to have you here with Matt

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<v Speaker 1>and myself. First of all, just lay out exactly what

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<v Speaker 1>you guys do it Shrueterra.

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<v Speaker 3>Yeah, good afternoon, Thanks for having me So Tutera is

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<v Speaker 3>a leading egg sustainability business that offers consultations, tools, and

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<v Speaker 3>solutions for the egg and food value chain.

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<v Speaker 1>What does that mean? No, no, no, break it down.

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<v Speaker 1>So what does it mean. You're working with farmers and

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<v Speaker 1>you're doing what you're working with companies and what do

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<v Speaker 1>you do?

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<v Speaker 3>Yeah, so we really exist to create new market opportunities

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<v Speaker 3>for farmers and egg retailers, and we do that by

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<v Speaker 3>helping them adopt economic, economic, and environmentally sell practices on

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<v Speaker 3>their farms that benefit the soil and the animals, the

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<v Speaker 3>farm itself, yes, the environment too, and then the local

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<v Speaker 3>communities that they're resigned in. And that's backed by that

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<v Speaker 3>one hundred year Land of Lakes co op system that

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<v Speaker 3>you reference. And everything that we do is with the

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<v Speaker 3>farmer at the center, backed by a network of egg

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<v Speaker 3>retailers that they trust.

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<v Speaker 2>So what does that mean in terms of like tell

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<v Speaker 2>us what a week in your schedule looks like?

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<v Speaker 3>It's great, it's you know, we really do serve three

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<v Speaker 3>audiences here. So we have the farmer where we really

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<v Speaker 3>provide them support and tools that help them adopt practices

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<v Speaker 3>on their farms, guide it by their trusted advisor, their

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<v Speaker 3>a retail salesperson that works with them on a daily basis.

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<v Speaker 3>And so we work with those eight retailers to educate

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<v Speaker 3>them and get them prepared to be able to provide

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<v Speaker 3>those solutions to the farmers. And then we work with

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<v Speaker 3>a wide array of companies companies that have made sustainability commitments,

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<v Speaker 3>and we really bridge the gap between all three of

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<v Speaker 3>those stakeholders to come together with a common plan around

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<v Speaker 3>a common goal and a common execution that is that

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<v Speaker 3>meets the goals of all the parties involved.

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<v Speaker 1>So I got to say, Tom, we do talk about

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<v Speaker 1>it a lot here on our broadcast and certainly as

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<v Speaker 1>part of Bloomberg BusinessWeek, but really a company over all,

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<v Speaker 1>Bloomberg News with their green vertical and just looking at

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<v Speaker 1>sustainability and how do we make it better agriculture, they've

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<v Speaker 1>got to make some changes right in terms of how

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<v Speaker 1>we produce food to make sure that we've got enough

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<v Speaker 1>for everybody and that we don't kill the climate in

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<v Speaker 1>the process. So you know, when you talk with farmers,

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<v Speaker 1>when you talk with ag retailers, when you talk with

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<v Speaker 1>CpG companies, I mean, what are the top two things

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<v Speaker 1>that need to be done that maybe aren't being done

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<v Speaker 1>so far.

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<v Speaker 3>I think the first of all was recognizing that what

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<v Speaker 3>we're asking farmers to do is fundamentally change the way

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<v Speaker 3>that they have farmed in many cases for generations, and

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<v Speaker 3>that comes with risk and they need to you know,

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<v Speaker 3>back to my initial statement about balancing the aeronomic, economic,

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<v Speaker 3>and environmental that needs to be addressed. And so, you know,

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<v Speaker 3>farmers all are the ultimate definition of regenerative egg because

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<v Speaker 3>if they're not leaving that land in a better spot

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<v Speaker 3>than when they've found it, they cease to exist. And

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<v Speaker 3>at UTERA we work to help them create that those

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<v Speaker 3>practices that that guide that and that lead to that result.

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<v Speaker 3>But then we also work with both public and private

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<v Speaker 3>sector investment to manage the risk versus reward so that

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<v Speaker 3>it's economically viable for the farmer to you know, maintain

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<v Speaker 3>or add to their current bottom line.

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<v Speaker 2>How many of the farmers you deal with are, you know,

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<v Speaker 2>family farmers. I always have this I don't know if

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<v Speaker 2>it's a misconception, but I always have this picture in

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<v Speaker 2>my mind of giant you know, corporations have bought off

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<v Speaker 2>all of the local farms. But then I drive around,

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<v Speaker 2>I'm from Ohio, drive around my hometown and I still

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<v Speaker 2>see families that I've known for my whole life out

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<v Speaker 2>there farming, So I guess there must be some.

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<v Speaker 3>Yeah, I think. I think it's a broad misconception, you know,

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<v Speaker 3>as a farmer myself, so I farm in southwest Minnesota

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<v Speaker 3>with my family. We farm twelve hundred acres of corn

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<v Speaker 3>soy means and have livestock as well. Or a corporation,

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<v Speaker 3>just because I think there's this misnomer of corporation equals bad.

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<v Speaker 3>It's a way to manage and structure your business in

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<v Speaker 3>our case, in order to do the succession planning that

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<v Speaker 3>it takes with my dad who's seventy eight years old

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<v Speaker 3>and in retiring. So you know, big isn't always bad.

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<v Speaker 3>Corporations isn't always bad. You know, again, back to the

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<v Speaker 3>fundamental principles. We got to drive the right practices that

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<v Speaker 3>leave the land in a better spot, manage the opportunities

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<v Speaker 3>for farmers and the retailers, and then meet the needs

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<v Speaker 3>of the environment. And that happens on farms of all scale, small,

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<v Speaker 3>medium and large.

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<v Speaker 2>This reminds me, by the way, Carroll, that documentary I

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<v Speaker 2>was telling you about The Biggest Little Farm is a

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<v Speaker 2>fantastic film I've seen it like four times now about

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<v Speaker 2>this couple and I think they have a kid. So

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<v Speaker 2>this family who takes over this wasted, you know, drought

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<v Speaker 2>destroyed California farm where I guess they've grown the same

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<v Speaker 2>thing over and over every year forever and ruin the soil.

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<v Speaker 2>They they have all of these practices probably that Tom

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<v Speaker 2>knows quite well, in order to reinvigorate the land and

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<v Speaker 2>take care of certain issues without necessarily having to use chemicals,

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<v Speaker 2>and it turns into this beautiful green oasis that I

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<v Speaker 2>highly recommend people watch The Biggest Little Farm. And I'm

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<v Speaker 2>guessing that's the kind of stuff that you tell people

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<v Speaker 2>Tom to put into practice.

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<v Speaker 3>Yeah, I think. You know, we really focus in on

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<v Speaker 3>a couple of core factors around the practices that we're

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<v Speaker 3>focused on. First and foremost, it comes with, you know,

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<v Speaker 3>how do we prevent and mitigate the movement of nutrients

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<v Speaker 3>or soil, and we do that through different types of

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<v Speaker 3>tillage practices, So, you know, moving away from tillage practices

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<v Speaker 3>where we turn the soil over which makes it you know,

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<v Speaker 3>vulnerable to erosion or blowing in the wind so to speak,

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<v Speaker 3>and adopting uh, you know, where we leave more residue,

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<v Speaker 3>which allows permeability, keeps the soil in place. Andre is

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<v Speaker 3>the overall structure, and then the implementation of things like

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<v Speaker 3>cover crops, so you know, when you remove a crop

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<v Speaker 3>or when you harvest a crop at the end of

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<v Speaker 3>the year, we actually plant another crop in its place

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<v Speaker 3>to provide those same kind of benefits that talked around,

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<v Speaker 3>like erosion and soil structure, and just overall building up

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<v Speaker 3>the overall health, which again ties back to those three

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<v Speaker 3>pillars of the agonomic and economic, and environmental, resulting in

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<v Speaker 3>that that improved soil health. So we truly are focused

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<v Speaker 3>in on, you know, mitigating the impact that farming has

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<v Speaker 3>on the environment while still feeding a growing population and

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<v Speaker 3>you know, meeting the needs of the consumer.

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<v Speaker 1>Tom, why are you doing this? And I asked this

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<v Speaker 1>because I remember talking with the abn Bedplate folks and

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<v Speaker 1>they were really into sustainability because they were seeing issues

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<v Speaker 1>with water and you can't make beer without water. And

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<v Speaker 1>I just wonder, what is it that you guys and

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<v Speaker 1>your team and the farmers that you talked to. What

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<v Speaker 1>have you seen the wine industries the same thing, whether

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<v Speaker 1>it's fires or droughts, Like they are seeing things firsthand

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<v Speaker 1>in terms of our climate that they know if things

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<v Speaker 1>don't change, there isn't going to be certain industries. So

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<v Speaker 1>what is it? And just got about a minute left

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<v Speaker 1>that you guys are seeing that says to you, if

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<v Speaker 1>we don't do something different, you know, this isn't going

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<v Speaker 1>to be good.

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<v Speaker 3>You know. Being part of the one hundred year old

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<v Speaker 3>member owned cooperative with land Lakes, we were we were

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<v Speaker 3>founded on the principles of a strong early coonomy and

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<v Speaker 3>those farmers coming together to you know, blend their resources

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<v Speaker 3>to create, you know, a successful operation and that span generations.

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<v Speaker 3>I think this is the same you know, by by

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<v Speaker 3>adopting the right practices and really delivering the kind of

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<v Speaker 3>results we are you know where we've paid over nine

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<v Speaker 3>million dollars to farmers, delivered more than four hundred and

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<v Speaker 3>sixty thousands of carbon assets. We're doing that. We're driving

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<v Speaker 3>the viability of rural America while addressing the needs of

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<v Speaker 3>the climate. And uh and that's a unique position to

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<v Speaker 3>be in and one that we're very pound to play

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<v Speaker 3>as TRUETA.

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<v Speaker 2>In land Lake.

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<v Speaker 1>All right, Well, nice to spend some time with you

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<v Speaker 1>on this Wednesday. Tom Ryan, he's president of Trutera, joining

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<v Speaker 1>us on Zoom from Minnesota,