Business Management - Articles - Page 14

November 2023 DMC margin moves above indemnity trigger

Small changes in the U.S. average feed cost and milk price were enough to push November’s Dairy Margin Coverage (DMC) margin higher.

December 29, 2023

Dave Natzke

The USDA National Agricultural Statistics Service (NASS) released its latest Ag Prices report on Dec. 29, including factors used to calculate the November 2023 Dairy Margin Coverage (DMC) margin.

Managing medical bills for farmers: A guide to negotiation and assistance

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.

December 29, 2023

Braden Pan

There are solutions that can help farmers avoid medical debt. From negotiation to financial assistance, there are options, but where do you begin?

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.

December 28, 2023

Jim Moriarty

Dairy farmers are continuously seeking ways to manage labor costs efficiently while maximizing productivity. The adoption of new technologies has emerged as a key strategy for enhancing cow care, milk production and overall work efficiency.

Dairy risk management calendar: January 2024

The 2024 Dairy Margin Coverage (DMC) program enrollment period should be announced soon.

December 27, 2023

Dave Natzke

Progressive Dairy provides monthly online updates of important dates, reports and factors affecting risk management decisions.

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.

December 21, 2023

Pauly Paul

Trust. It’s the glue that holds together the relationship between the bank and the borrower. And just like any other relationship, trust can take years to build through communication, setting expectations and following through.

Economic Update: January 2024 Class I base price weakens

‘Average-of’ formula continues to impact price

December 20, 2023

Dave Natzke

Here’s an update on economic factors impacting your dairy profitability as we approach Christmas of 2023.

The transformative power of employee development in addressing protocol drift on dairy farms

December 19, 2023

Laura Tavera Montañez

Effective protocols and employee training go beyond creating ease in routine tasks; they are a safeguard against costly turnover that disrupts productivity and animal care.

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.

December 13, 2023

Dave Natzke

USDA Farm Service Agency (FSA) staff are working on a DMC program rule amendment, anticipating an announcement of enrollment provisions early in calendar year 2024.

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.

December 13, 2023

Elaine Froese

There are many overlapping systems in play on a family farm. Your family circle is your nuclear family which relates to your parents or in-laws, and your siblings, who may also be business partners or farm heirs.

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.

December 11, 2023

Audrey Schmitz

From this week's USDA World Ag Supply and Demand Estimates (WASDE) and Crop Production reports, Progressive Dairy summarizes factors potentially impacting dairy producer income.

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November 2023 DMC margin moves above indemnity trigger

Managing medical bills for farmers: A guide to negotiation and assistance

Navigating labor costs: Leveraging technology for efficiency

Dairy risk management calendar: January 2024

The four-part financial package that rebuilt a lender’s trust

Economic Update: January 2024 Class I base price weakens

The transformative power of employee development in addressing protocol drift on dairy farms

Look for 2024 DMC program enrollment details early next year

Tips for in-laws: How to be seen and heard at your farm’s decision-making table

Reduced milk per cow, cow numbers lower USDA 2023-24 milk production estimates

How to prevent winter freeze with ventilation

Why dairy farmers invest

Dairy risk management calendar: December

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October summary on dairy cows culled for beef

3 Open Minutes with retiring Holstein Association USA CEO John Meyer

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[Podcast] FMMO modernization: USDA’s final decision and the impact it could have on milk prices

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