Dairy commodity prices have dropped 45 percent from a high above $24 per hundredweight in September 2014 to a low below $14 per hundredweight in March 2015. Meanwhile, the dairy industry continues to evolve at a rapid pace as hard working dairy farmers must possess a unique set of business skills to maximize high-quality milk production while managing pricing risks and maintaining successful profit margins.
Dairy big data technology
Dairy farmers can now tackle these challenges with the help of dairy decision management technology. Recently launched by Rice Dairy LLC (a dairy futures brokerage), Vault Technologies LLC is a stand-alone software company specializing in dairy data analysis. The company features:
Real-time interactive financial dashboards
- Individual dairy pro forma forecasts utilizing live CME market and position data for a 24-month forward-looking profit and loss.
What-if scenario analysis
- Interactively stress test a dairy’s financials by computing future results based on various dairy and grain prices.
- Create, save and export custom reports to make more profitable decisions from any dairy farm data.
The company’s comprehensive analytics technology utilizes an individual dairy’s unique operational data to create detailed two-year revenue and profit projections that incorporate live market pricing, margin, hedging and “what if scenarios.”
The company makes this automated technology easily accessible online and via mobile. The company is bridging multiple data silos into one convenient application to drive profitable dairy decisions.
The company also acts as a secure conduit for key suppliers and consultants who help dairies manage their financial health. Plus with Vault being a stand-alone company, the software allows dairies to work with any broker and clearinghouse to utilize the software. PD
—From Vault Technologies LLC news release