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Reducing Financial Risk for Dairy Producers with the Cornell Dairy Farm Business Summary and Analysis Program

Mariane Kiraly

Summary

Dairy farm margins are very tight and will remain so with external factors such as weather, high feed prices and outdated farm policy leaving farmers to manage the few things within their control. By maintaining excellent records and using those records to chart progress and set goals, dairy farmers can have more control over their farm businesses. Comparison to benchmark measures within the program show strengths and weaknesses in order to captialize on strengths and address weaknesses. Shrinking margins in dairy farm businesses make financial analysis critical for success. The Cornell Dairy Farm Summary Program and on-line U.S. Top Dairies Program is a good example of how a dairy can use the data to mitigate financial risk.

Details

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