Financial statements for U.S. dairy cooperatives in 2007 are presented. The Nation's dairy cooperatives were categorized into groups based on their primary function and according to size (volume of milk handled). Balance sheets and operating statements were presented on per hundredweight (cwt), per cooperative, and common-size basis for U.S. dairy cooperatives by operating type and by size category. Financial ratios are also presented for each type and size group. Dairy cooperatives employed $12 billion of assets to market member milk in 2007. Member equity made up 27.6 percent of dairy cooperative assets. Net margins before tax were $0.25 per cwt of total milk handled, which represented a 0.9-percent return on total sales.