Focus on financial basics
Dairy Herd news source
| Friday, November 20, 2009
Dairy and other livestock producers have been losing money for months, and prospects for turnaround are delayed to 2010.
If you are one of the many that have been losing $1,000 or more per cow per month or have other losses, University of Illinois extension educator Dave Fischer suggests that you go back to these production basics:
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Maintain working capital, compute a cash-flow and don’t surprise your lender.
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Maximize income over feed cost, which means keep your efficiency with good feed.
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Don’t cut costs which will negatively affect livestock performance and health.
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Liquidate any unused assets which may help provide cash-flow for coming months.
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Care for yourself and your family by maintaining a good communication and social network.
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Strategize for the future while looking for opportunities to strengthen the present.
Source: the farm gate
