39 dairy farms have completed the Dairy Profit Monitor (DPM) program from April 2020 through March 2021.
The trend graphs prepared by the DPM provide a snapshot of how key performance measures changed on these farms over the last 12 months. The COVID-19 pandemic had an effect on milk price throughout the 12 month period. The average net milk price for these 39 farms ranged from $12.57 in May to $19.06 in November, which is a $6.50 range over the course of those six months.
Total lactating feed cost per cwt and cost per pound of dry matter also steadily increased from April to March reflecting the rising feed costs. Net Milk Income over Total Feed Costs per cow (NMIOTFC) using the actual milk price followed the same pattern throughout the course of the 12 months as the net milk price; taking a large hit in May, increasing drastically through July, and steadily decreasing from November on. If we analyze the NMIOTFC per cow using a fixed milk price, the cost per cow per day stays fairly consistent over the course of the 12 month period. Since producers cannot control the milk price they receive, analyzing the NMIOTFC with a fixed milk price allows us to analyze the performance of the management changes that were made on the farm during that time. The NMIOTFC per cow using a fixed milk price stayed relatively unchanged throughout the 12 months with the increase in pounds of components produced per cow over the period, offsetting the feed cost increase.
Milk sold per worker and labor efficiency on these 39 farms has slightly increased over the 12 month period. Given the changing labor regulations in New York State, this will continue to be an important management goal on farms.
Source: Cornell
