Profit Tips
The beef market is sizzling hot and dairy producers have not only noticed but have taken action to capitalize on securing an alternative profit source to their bottom line.
Raising too many heifers can be costly for producers, which is why David Erf with Zoetis recommends producers to check their cattle inventory numbers as much as they do milk prices.
When business is no longer usual, it’s a great time to reassess your strategic focus. Is your farm still marching toward its goals?
With the U.S. dairy exports documenting their worst year-over-year decline in four years, Ben Laine with Terrain says the headwinds facing dairy exports side of the equation is what concerns him the most right now.
Producers know all too well that once the feed truck comes down their driveway, a bill will follow. The rising cost of feed has forced dairies to dial in on efficiency to help boost overall profitability for the farm.
The ongoing milk price rollercoaster that seems to be on a downward track has once again forced a Dairy Margin Coverage payment to be issued in 2023. The DMC income over feed costs for April is $5.84/cwt.
In 2006, dairy producer Ken Smith and family purchased an old truck stop property near their family dairy farm and began an ice cream business. Moo Thru has grown in more ways than one.
Dairy producers have adjusted to uncertainties that face them such as rising feed costs, ongoing labor challenges and navigating a pandemic and its ripple effect. Three producers share how they tackle uncertainties.
A few dairies have pushed pause on building projects due to interest rates and market uncertainties. Others are stuck in limbo not knowing whether to move forward or wait it out.
Head to Lancaster County Pennsylvania and the sweet aroma of candy can be smelled on a family dairy farm. Red Knob Dairy has been feeding upcycled Hershey candy waste to their cows for more than a decade.
Half of success is showing up certainly holds true for labor-dependent farms. Although Brett Barlass, dairy manager of Yosemite Jerseys in Calif., shares he went nine years without a no-call or a no-show employee.
The Innovation Center for U.S. Dairy unveiled some big moves in the private sector that may make it easier for dairy producers to capitalize on carbon credits to benefit both climate and their bottom lines.
Phil Plourd, president of Ever.Ag Insights, says that from a producer perspective, risk management decisions have gotten tougher in the past few months. Penn State offers tips to be considered when using milk futures:
For the third time this year, a Dairy Margin Coverage payment will be issued. Here’s what to expect.
With today’s market conditions, producers are capitalizing on strong beef prices. More cows went to slaughter in March, the highest total since 1986, the year of the whole-herd buyout program.
As more dairies face labor challenges, the need for extra help on a farm is evident and Miguel Rangel, DVM, a past visa recipient, says that government-issued visas can help fulfill that labor need.
Dairy farms are routine. Milk cows 365-days a year. This is the life that Kelly and Christy Cunningham with Milk Unlimited near Atlantic, Iowa, have grown accustomed to. Although in 2017, that nearly came to a halt.
As producers continue to dial in on productivity and profitability, they also leaned into technology to help them achieve these goals. Three producers talk tech on a Farm Journal Milk Business webinar.
The U.S. bovine semen industry reports a decline of 5% in total unit sales, reaching 69 million total units reported for all categories combined. However, Beef-on-dairy semen sales continue to increase.
Warren Buffet saying, “Rule No. 1: Never lose money. Rule No. 2, don’t forget Rule No. 1” is widely known. Dr. Brady Brewer from Purdue University said it is unlikely that Buffet spends much time working in ag.
With drought and production costs pushing the native beef population to a record low, beef-on-dairy has a huge opportunity to keep the feedlots and processors at full capacity.
Most producers will tell you their No. 1 goal is simple: strive for cow comfort. That goal continues as dairies look to build a new barn or even retrofit an existing facility. The key is to begin with the end in mind.
The Howrigans have always put cow comfort as one of their top priorities on their farm. They credit new technology with pushing their dairy to be more profitable, but also helping them ensure cows are well cared for.
The rollercoaster of the dairy industry certainly isn’t new. Dan Basse told the PDPW audience last week that a great reset is underway for the dairy economy, which will spell a more competitive world market.
The days are long, the tasks are endless, and the volatility is unnerving, but being a dairy farmer can also be a rewarding profession.
A different story is unfolding in 2023 with a decline in milk prices, while expenses continue to remain high. What are the best recommendations to help position yourself for a good start for the first half of the year.
The rollercoaster of milk prices is something we have seen before. Dr. Kevin Bernhardt with the UW-Extension recommends producers do a sensitivity analysis and ask, ‘How quickly can your good fortunate change?’
One glance at the milk futures and it’s hard to be optimistic, especially coming off a record milk market year. Simply stated, the second half of the year presents opportunities that come with bittersweet reviews.
Three farmers share what they have done to keep their good employees, including how they hired some unique employees that have become a good fit for their operations.
Amber Horn-Leiterman witnessed her mom doing it all—contributing to the farm, as well as caring for the family. The Wisconsin dairy mom says it’s okay for moms to let down their superwoman powers and ask for help.