Dairy Business News
There’s a serious lack of communication between generations, and procrastination and conflict avoidance are killing agriculture, says Elaine Froese, a farm family transition expert.
Becky Nyman of Hilmar, Calif., recently visited with AgriTalk host, Chip Flory, about being the next generation dairy farmer. Nyman works alongside her brother on the home farm where they milk 1,200 Jerseys.
Even the most efficient and profitable herds need a transition plan from one generation to the next. Without it, they can disperse and become a statistic.
While many in the agricultural sector wonder who will make up the next generation of farmers, another legitimate question is who will make up the next generation of industry professionals.
Formulating your farm’s succession plan is likely not a straight line. Polly Dobbs, an Indiana attorney who is part of a seven-generation farm family, says it’s important to stay focused on your end goals.
As multiple weeks of significant rainfall pushes planting progress far behind last year’s pace, Scott Irwin, professor at the University of Illinois, says these delays may not affect corn yields as much as you think.
The clock is ticking — and the current estate-tax exemption is set to plummet at the end of 2025. The smaller exemption coupled with inflation and land values likely means increased assets and estate-tax rates.
Anyone who wants a say in how business assets are handled after they pass on should have some sort of transition plan in place. If not done correctly, then the outcome might be settled at a farm auction.
Many producers across the county have their eyes open to the future and are eagerly embracing opportunities to grow any way they can.
When the four Hansen brothers came back to the small family dairy farm in Hudson, Iowa, which had operated since 1864, things needed to expand. Hansen’s Dairy has since taken ‘side hustle’ to a whole new level.
We asked surveyors what avenues they are exploring to generate added profit to help with their farm’s overall profitability, and the results showed that branded beef and agritourism are leading the way.
The May Ag Economists’ Monthly Monitor found even with improved commodity prices over the past month, ag economists’ views on the net farm income picture slightly eroded, falling to $110.4 billion in May.
More and more dairies are looking to technology to help dial in on efficiencies and help spell future success of their operations.
Hesston Geddes admits the opportunity to live and work in Hawaii’s lush tropical backdrop enticed him to travel to Waipahu, to take on the manager role at Cloverleaf Dairy, the last commercial dairy in Hawaii.
“If they could not turn things around, this family would be losing their dairy farm and their house too.”
With prices experiencing a downturn and input costs high producers have been quick to search out alternative revenue to help their operations turn a profit. One method has been to incorporate a beef-on-dairy program.
Ever.Ag Insights president Phil Plourd, says “It is a street fight, in terms of figuring out ways to stay relevant, to get more productive, to stay ahead of the curve to manage risk better.”
2024 started on a downward slope, as year-over-year milk production continued to drop 1.3% in February. The U.S. milking cowherd dropped below year-ago levels each month since June 2023.
U.S. dairy producers appear to be keeping more low-end cows in their herds to keep barns full.
Demand for colostrum is exploding. A recent market estimated the global value of colostrum sold in 2023 was $1.49 billion. That figure is projected to see a compound annual growth rate of 6.5% for the next decade.
Farm Journal’s State of the Dairy Industry 2024 Report surveyed 210 dairy producers throughout the U.S. Our forward-thinking survey asked participants about the challenges they face, along with future opportunities.
Here are a few thoughts on what being prepared might involve from a farm or industry perspective.
As the dairy industry continues to change at lightning speed, Farm Journal recently surveyed producers – asking them about challenges and opportunities that face them, which six leading-edge insights surfaced.
#88 is quite possibly the most popular cow on social media right now, and it’s one post that sparked it all. Clay Scott is using it as an opportunity to educate others about ranching, growing into a global sensation.
It seems like prices have finally started to turn the corner. But will this small rebound be short-lived?
The USDA raised its milk production forecast for 2024 based on an increase in dairy cows and more rapid growth in output per cow.
The national shortage of dairy replacement heifers is beginning to bear out more distinctly in heifer prices.
Mars Inc. has announced the launch of their ambitious sustainable dairy plan, Moo’ving Dairy Forward, that will be backed by a $47 million investment over three years.
The Ag Economy Barometer found the majority of farmers are being offered more than $1,000 per acre by companies for solar leasing, and economists say that could also drive up the price of cash rental rates.
When a pair of sisters set out to help the family farm, they didn’t think they’d end up on Forbes’ 30 Under 30 list. On the debut of Grow Getters, a podcast about ag’s most creative side hustles, they tell their story.