As a family we have been thinking about our farm transfer for over five years. We have talked about it. We have changed it. We have lost sleep over it. We have made plans. And more plans. And then a few more.

There are plenty of financial indicators of which dairy producers should keep close track. Milk prices, of course. Your income over feed cost is certainly important, and knowing your margins is a key to maintaining healthy liquidity. But if there’s one number that every dairy producer should know, it’s the cost it takes to produce 100 pounds of milk. Regardless of herd size or breed, knowing your farm’s cost of production could provide the answer to the crucial question: Is this the year I make an investment, or do I tighten the belt?

In 2016, one university study followed football players and discovered (regardless of concussions) that the players who drank more milk had higher verbal and visual memory than the players who didn’t drink milk. Other studies confirmed similar results showing that milk drinkers consistently have better memory than people who don’t drink milk.

Reaching breeding size sooner. Improving conception rates with fewer services. Achieving an earlier age at first calving. Healthier first-calf heifers and calves. Don’t you want it all on your farm?

Dairy is the dog that wags the western U.S. hay market tail, but exports are starting to add more waggle.

It’s not yet coming in waves, but domestic and foreign ripples are impacting the U.S. hay market.

Digest Highlights: EPA petitions for farm emissions reporting delay. California takes another step in creating federal order. Texas adds CAFOs to drone protection statute. Find a summary of these and other news here.

U.S. dairy exports in the first half of 2017 were the most in three years, according to a monthly summary from Alan Levitt, vice president of communications and market analysis at the U.S. Dairy Export Council (USDEC). Sales were led by record volumes of nonfat dry milk/skim milk powder and whey products, as well a 24-percent year-over-year gain in cheese exports.

Editor's note: The CEO Corner contains editors' compilations of business news from top publications, which they have tailored for the dairy industry. It’s fair time, but that doesn’t mean you need to pay for a ride to get your stomach to do some remarkable acrobatics. You’re already a farmer braving a volatile milk market because dairying is what you love to do.