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Dairy Farm Business Summary and Analysis Program 2024

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  • Cornell Cooperative Extension
  • PRO-DAIRY
  • Animal Science
  • Charles H. Dyson School of Applied Economics and Management
The Dairy Farm Business Summary & Analysis Project (DFBS) is one of the longest applied research efforts within the College of Agriculture and Life Sciences at Cornell University that interacts directly with rural stakeholders of the land grant mission. The DFBS started as a project in 1956 and works with dairy farm families to analyze financial and business performance over time, with the objective to improve business and financial management within the dairy industry using modern analysis techniques and historical farm data. 

The 2024 business year was a higher earnings year on average across New York dairy farms that participated in the Dairy Farm Business Summary (DFBS), as noted in the 2024 DFBS Progress of the Dairy Farm Report. Strong milk prices and component production, high prices paid for beef cows, beef calves and dairy replacements were just a few factors that contributed to higher earnings.

With some unique industry dynamics during the year, this report looks closer at trends specific to herd size and milk production across NY farms that participate in the Dairy Farm Business Summary & Analysis Project (DFBS). The DFBS data set includes 128 NY conventional dairy farms in which dairy is their main enterprise, with at least 85% of farm revenue generated from milk, dairy cattle and calf revenue. Data is also provided for a subset of 90 NY dairy farmers who completed the DFBS supplemental survey and answered questions on selected topics related to the dairy herd.

Key takeaways:

  • Herd size continued to increase on New York dairies
  • Cull rate and percent heifers to cows continues to decrease on average
  • Pounds of butterfat and protein sold per cow averaged 2,083

 

PRO-DAIRY is a nationally recognized extension and applied research leader serving dairy farms for more than 30 years.

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