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Managing basic fundamentals can lead to better profits.

Farmers who survived the downturn from more than 30 years ago learned best practices that are applicable to today’s challenges.

The Southeast Uniform milk price for August was $18.12, down $0.59 from July and $2.49 lower than August 2017. 

The Southeast Uniform milk price for September was $17.94, up $0.41 from August and $1.67 lower than September 2017. 

The Appalachian Uniform milk price was $17.20, up $0.64 from April and $0.45 lower than May 2017.

“Don’t obsess about when the next downturn will be. You need to be smart when things are looking good and plan for the future."

Making quality milk requires attention to detail.

Would anyone doubt that a successful dairy farm requires a team effort?

Determine how many heifers you need on your farm for a healthy economics on the farm.

While maximizing the value of your milk is critical, careful consideration should be given to the choices for using or disposing of waste milk.

Financing could be difficult to get this year, so be prepared.

Volatility in net farm income, like in milk prices, appears to be increasing and reinforces need for records and planning.

The financial health or profitability of a dairy operation is often the missing link of the farm’s financial picture.

“The dairy business hadn’t been very good,” Mark Baker says. “My sons and my wife we’re all in this together, and we saw this as an opportunity we shouldn’t let pass.”

What are the metrics by which you evaluate your farm performance each month? Does everyone on the farm know how the operation is doing? Maybe they should.

Manage the costs that don’t impact production.

Raising replacement heifers is a long-term investment, to be sure. In most herds, the cost of raising heifers from birth to calving far exceeds their market value, especially at today’s prices.

Dairy producers have been investigating crossbred steers as an alternative enterprise to improve cash flow. There are a lot of aspects to consider before adopting this strategy.

With so much late-planted corn, it’s likely many farmers are struggling with wet grain.

When considering ways to boost profits, do not overlook the assets you have in people.