Management

With the volatility in milk prices this year, many questions have been asked by dairy producers about whether or not they should use available tools to potentially minimize the risk associated with negative milk price moves.

Comparison of selected measures and costs by quartile of earnings 155 dairy farms, New York state, 2019

The 2019 year was a rebound in earnings from 2018 for farms that participate in the Dairy Farm Business Summary and Analysis Program.

The year 2020 has been one for the record books concerning major business disruptors that have caused economic and emotional stress. The COVID-19 pandemic, wildfires, extreme weather, and other global events, are black swans or unusual aspects that are creating an environment that is quite the opposite of “business as usual.”

One critical characteristic of human beings is that each of us is very unique. We are born with certain tendencies and natural reactions.

Many dairy farm businesses are family-run operations that span over multiple generations. While the joy of working with family can be rewarding, challenges often arise on personal and professional levels.

Per-capita cheese consumption set another record high of 38.3 pounds in 2019. This is according to the USDA’s Economic Research Service annual dairy product per-capita consumption report, released in September.