Business Management
Proactive measures before the medical procedure along with closely examining the bill for errors or price gouging and then working with an advocate if needed can help farmers avoid medical debt.
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Navigating labor costs: Leveraging technology for efficiency
Key considerations for implementing on-farm technology to optimize labor efficiency include assessing how the investment aligns with capital plans and long-term goals, team communication, training requirements and the impact on cow flow, facility layout and maintenance.
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Dairy risk management calendar: January 2024
The 2024 Dairy Margin Coverage (DMC) program enrollment period should be announced soon.
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The four-part financial package that rebuilt a lender’s trust
When combined with an actionable plan, a cash flow statement, current budget, projected budget and regular progress reports are four documents that can help to rebuild trust with a lender.
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Economic Update: January 2024 Class I base price weakens
‘Average-of’ formula continues to impact price
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Look for 2024 DMC program enrollment details early next year
As we saw in recent years, using beginning of the year milk and feed price forecasts to determine DMC participation can be risky.
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Tips for in-laws: How to be seen and heard at your farm’s decision-making table
A framework including observations, feelings, needs and requests can help all members of the family and farm team communicate.
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Reduced milk per cow, cow numbers lower USDA 2023-24 milk production estimates
The milk production forecast for 2023 was lowered from last month due to slower expected growth in milk per cow.
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How to start awkward conversations
Begin the transition planning conversation by keeping it light. Ask to have an initial conversation about transition planning at some point in the future, and encourage others to speak up about their vision for a successful transition.
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