The Daily News reports higher milk prices in 2010 allowed Northeast dairy farmers to make a profit and catch up on debt according to the annual Farm Credit East survey.
The average Northeast dairy farm lost $386 per cow in 2009, but made a profit of $396 per cow the following year. The $782 swing is due in large part to milk prices increasing to $3.90 per hundredweight in 2010.
The increased profit helped farmers catch up on unpaid bills from 2009, but debt per cow from 2009 remains at its highest point in the 32-year history of the report.
William Lipinski, CEO of Farm Credit East, says the New York, New England and New Jersey dairies the report represents are doing an excellent job and he expects dairy farming to remain a strong industry in the Northeast.
The annual Farm Credit East Summary collected all aspects of dairy financial information from 524 dairies last year.
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Source: The Daily News