Moo-ving forward with a business plan brings peace of mind
EDMONTON, AB. –– The events of 2020 have brought a great deal of uncertainty for many businesses and dairy farms are no exception. Demand for milk production has fluctuated as processors have made adjustments to the changing marketplace.
However, there are ways to mitigate that uncertainty. Pauline Van Biert, research analyst with Alberta Agriculture and Forestry, has found many farmers indicate having a business analysis that leads to a written plan for their farm, contributes to their peace of mind. The plan allows for better coping mechanisms when facing uncertainty and stress.
With that in mind, Van Briet says Alberta Dairy farmers can start this process by having a farm business analysis prepared through participation in the Dairy Cost Study program.
“Dairy farming and milk production is becoming more complex, and farmers need to be resilient and flexible, as having current cost of production numbers, removes the guesswork and helps farmers look at and think about farm management options.”