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Management

Manage dairy employees, establish farm protocols, take on milk marketing, and become more confident in your farm financials.

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Numerous agriculture meetings and events are held this time of year, as it’s the “slow” time. Of course, it seems no time of the year is slow anymore, especially if you are a dairy owner wearing many hats, such as milker, feeder, crop manager, people manager, “waste management technician,” repairman, marketer and more.

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Ag economist Marin Bozic of the University of Minnesota calls himself a “jack of all trades” when it comes to his work in the dairy industry. He does primary research in the area of dairy markets; teaches about agribusiness finance, futures and options; and recently helped create with John Newton the Dairy Revenue Protection (Dairy-RP) program.

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How do I compare to my competition? How do I know if I am ready to expand? These questions asked by Ohio’s dairy farmers sparked publication of the 15 Measures of Dairy Farm Competitiveness in 1997.

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What a decade 2010-19 has been. We had the highest milk prices ever in 2014 followed by a very prolonged half-decade with persistently low milk prices.

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Genske, Mulder & Co. has produced, for decades, what is referred to as cost studies for our dairy clients. These show the averages of our clients’ profit and loss statements from about 14 states, which provide an array of useful information.

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Two cows live on a theoretical farm. Both produce revenue. Both are recently fresh. One calved well, is in good body condition, breezed through the whole transition phase and is ready to breed – and looks like she will peak well.

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