Finances & Profitability
Cheese, butter, whey and nonfat dry milk (NDM) price forecasts for 2024 are raised from the previous month on recent price strength and an expectation of tighter milk supplies.
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The business of agriculture: Are you the CEO?
Farming demands both technical and financial skills; Canadian dairy producers excel in production but often lack financial knowledge, highlighting the need for better management training and adviser collaboration for success.
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Improve financial transparency with your farm family team
Openly discussing money in farm families is key for smooth transitions and financial literacy, through steps like leading conversations, understanding values, managing debt, analyzing spending, sharing stories and holding family meetings.
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Should you chase ‘incentive’ days?
Balancing the value of quota, especially in the case of incentive days, involves considering revenue growth alongside cost management strategies.
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Is your herd safe? Cybersecurity essentials for dairy farms
Technology advancements make dairy farms targets of cyberattack, but risks can be mitigated by understanding what threats exist.
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USDA outlook sees little change in 2024-25 milk production
Milk production forecasts for both 2024 and 2025 are unchanged from last month with slight adjustments to cow inventories offset by slower growth in milk output per cow.
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Increased cow numbers, milk per cow raise 2024-25 milk production estimates
Milk production in 2025 is forecast to increase from 2024, driven by higher milk per cow and an expanding milk cow herd.
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Antimicrobial stewardship: Balancing health, profitability and sustainability
Antimicrobial stewardship is vital for responsible farm management, as it prevents costly consequences like antibiotic resistance, highlighting the need for informed antibiotic use and preventive measures to ensure animal health, farm profitability and societal well-being.
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Slower-than-expected growth in output per cow reduces milk forecast
Compared to last month, the USDA left the 2023 milk production estimate unchanged but reduced 2024 production expectations 1 billion pounds from the previous report.
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Who is in your corner when times get tough?
Evaluating fixed and variable costs throughout the operation can help identify areas where cost and labour savings can be achieved. However, cow comfort is an area that should not be cut.
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