With unpredictable cycles in the dairy industry and fluctuations in prices, it is important to continually monitor the performance of your dairy business. PRO-DAIRY's Dairy Profit Monitor trend report features graphs that show the average trends and ranges measured in Dairy Profit Monitor from July 2021 through June 2022 for 41 farms primarily in New York State. The graphs also show averages for these same farms from July 2020 through June 2021 as a comparison.
Some observations:
- Milk per cow slightly increased in July 2021 from July 2020, then decreased in
April 2022, and picked back up in May and June of 2022, to the same level as the previous year. - Similarly, to the increase in milk per cow per day, pounds of components per cow per day in was higher in July 2021 than it was in July 2020.
- Percent forage in the diet was higher in July of 2021 through March of 2022 than the
previous year. From data collected in the Dairy Farm Business Summary for
2021, farms had increased forage yields and inventory with higher quality feeds than the
previous year. - In June 2021, the net milk price averaged $18.00 per cwt while the average in June
2022 was $27.00 per cwt. This significant increase attributed to an increase in net milk income
over total feed costs per cow. - The increase in net milk price was followed by an increase in total lactating feed cost per cwt.
- As labor costs continue to increase in NY, labor efficiency measured by milk sold per worker
followed the same average trend from the previous 12 months, showing no improvements.
It is important to continually monitor the performance of your business with unpredictable cycles in the dairy industry and fluctuations in prices. Dairy Profit Monitor is a benchmarking tool that can help track your farm’s performance.
Read the full report. Learn more about PRO-DAIRY.
