As a federated cooperative, headquartered in Baraboo, Wisconsin, all of Equity Cooperative Livestock Sales Association’s common stock is owned by 34 local shipping associations. These shipping associations are the link between the parent cooperative and the patron members. The patron members are responsible for electing peers to represent them on the 10-person regional board of directors. Equity operates 12 auction markets and services producers in Illinois, Iowa, Michigan, Minnesota, South Dakota and Wisconsin. Equity assists producers with livestock marketing, commodities and credit services.