Managing Your Milk Margin to Improve Your Dairy Cash Flow
Over the past three years, Penn State has helped hundreds of dairy producers complete cash flow plans to learn breakeven numbers for income over feed costs, Class III milk price and milk margin. The focus was on how to use risk management to protect margin, which is extremely important. However, what is the one production area that has the potential to dramatically alter farm profitability? Decisions made regarding cropping strategies, focusing on transitioning to different cropping plans, altering acreage, changing the forage program for the lactating cows and improving feed inventory.
Penn State has developed this workshop to help producers complete a cash flow plan and determine their income over feed costs/milk margin breakeven. In addition, a crop expert will share how successful farms transition into various cropping programs, i.e. double cropping, utilizing cover crops, etc. Precision feeding will also be addressed, including how feeding high forage-based diets can result in high performance and improved income over feed costs.
Hours: 10:00 a.m. to 3:00 p.m.
AM session: The morning provides a hands-on opportunity to actually complete the individual’s dairy cash flow plan. Extension specialists will be available to work with individual producers to assist in entering all pertinent information related to rations for the whole herd, cropping information and annual cash flow numbers.
PM session: Discussion on transitioning into different cropping plans and precision feeding. The one strategy that empowers producers to weather the price volatility of feeds is to optimize the crops grown on farm. However, quality and quantity are critical if animal performance is to be maintained or improved. Strategies to implement and manage these practices will be discussed.
Schedule a Workshop:
The Penn State Extension Dairy Team can present this training to groups of 5-8 dairy farms at any location in PA on the dates listed below:
- February 12, 2013 Reserved
- February 13, 2013
- February 14, 2013 Reserved
- February 21, 2013 Reserved
- February 26, 2013 Reserved
- February 28, 2013 Reserved
- March 12, 2013 Reserved
- March 13, 2013 Reserved
- March 14, 2013 Reserved
- March 19, 2013 Reserved
- March 21, 2013 Reserved
Companies and organizations interested in presenting this workshop to their producers should contact:
- Virginia Ishler, nutrient management specialist, Penn State Extension Dairy Team: email@example.com; 888-373-7232
- Tim Beck, Extension educator, dairy business management, Penn State Extension Dairy Team: firstname.lastname@example.org; 717-240-6502
Data to bring to workshop:
Dairy producers should fill out this data collection sheet before attending the workshop.
The $40 per farm registration fee covers the cost of training and materials, plus lunch. Husband and wife dairy partners are encouraged to attend together at no additional charge.
This workshop qualifies for 2 SmartStart credits from AgChoice Farm Credit.