To remain profitable, producers should be monitoring and making decisions based on their herd's "income over feed costs" (IOFC). This enables producers to make more informed decisions about feed purchases, know when to lock in milk price, or adjust the ration program to accommodate price volatility. This fact sheet explains the various components of the tool and two approaches to monitoring IOFC.
Dairy Risk-Management Education: Managing Income Over Feed Costs
Title Dairy Risk-Management Education: Managing Income Over Feed Costs
Publication Code UA458
Number of Pages 8