No one likes the uncertainty of milk price, and sometimes we think we’d rather not know. But realistically, understanding future projections is key to help plan for the future of your farm business. That’s why Farm Credit East’s dairy consultants believe so strongly in our Dairy Profit Analyzer (DPA) program.
Major dairy cooperatives estimate that producer pay prices for 2017 will average about $2.00 per hundredweight higher than last year. Read more about prices and global demand markets in this brief outlook on Northeast dairy.
Despite a $1.39/cwt. drop in milk prices, dairy farms showed remarkable resilience with slightly improved financial results in 2016 compared to 2015. Read more about the results recently reported during a webinar held by Farm Credit East on the 2016 Northeast Dairy Farm Summary.
In the midst of an industry downturn, it’s important to have your financial and credit management plan in place to ensure continued success – waiting for a highly profitable year to recover finances is not a viable strategy. Learn eight tips that can help you plan for difficult market conditions before a “normal” cycle becomes a changed reality.