By Dori Modney with files from Alberta Agriculture

Moo-ving forward with a business plan brings peace of mind

Nov 10, 2020 | 6:15 PM

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.”

Van Briet says, The analysis available through the Dairy Cost Study program, offered at no charge by AF, can help identify strengths and weaknesses and focus on moving forward.”

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Some of the questions the dairy farmer needs to ask, include:

— Do you know what it cost you to produce a kilogram of butterfat?

— How much does it cost you to feed one cow to get how much milk?

— Can you afford that new skid steer? Or a trip to Mexico?

According to Van Briet, dairy farmers need to participate in the study to get their report and get answers to the questions.

“Benchmarking is basically grading yourself to others in a similar business,’ explains Van Biert.”

“Are your numbers good, average or poor? Use benchmarking to assess and see what is different from others, recognize areas your farm is performing well and increase knowledge scope. Further your knowledge on the cost of milk production in Alberta by referencing the latest Economics of Milk Production benchmark report.”

Register here for the 2021 Dairy Cost Study.

If you need more information, about the cost study, you can connect with Pauline Van Biert, using the following information`:

Hours: 8:15 am to 4:30 pm (open Monday to Friday, closed statutory holidays)
Phone: 780-415-2153
Toll free: 310-0000 before the phone number (in Alberta)
Email: pauline.vanbiert@gov.ab.ca