In 2014, Class III producer milk prices were above $20 per hundredweight (cwt). Milk protein was worth more than butterfat, and amino acid balancing was becoming the accepted technology for increasing butterfat and milk protein component levels.

Recently I’ve talked about the tension that comes with great wealth transfer. Here is more information on that subject. Financial planner Anthony Williams describes a study by Investment News suggesting 66 percent of children will ultimately fire their parents’ financial adviser once they receive their inheritance. These children are called fleeing heirs.

Frustration is a stressor each of us can feel from time to time, especially for those in the dairy industry. From personal and family struggles to rhetoric in our community and prices in the marketplace, there are plenty of reasons to doubt who we are and what we represent.

A key component to running a family farm is based on the open relationships among the parents and their children. However, when times get tough, some parents may try to shield their children from stressful situations.

A day in the life of a dairy farmer involves wearing many hats. One of those hats is that of human resources. No matter the size of your farm, as long as you have employees, you need to be thinking about human resources.

I first taught about mission statements almost 40 years ago when we developed the Pro-Dairy program in New York state. Over time, my thinking has continued to evolve and, hopefully, improve by including vision and values.

I was on a farm in Wisconsin in January; it was a father and daughter team. They were far from a team when I first met them. The daughter had just come home to farm and was working her way into the business, but she and her dad bickered over every decision.

Editor’s note: The author, an Indiana dairy producer and freelance writer, is exploring resources and methods to help dairy farmers deal with farm stress. Visit Farm Stress: Sources and Resources to find a comprehensive list of programs, helplines, websites, videos and factsheets and other materials.

I was sitting in a sea of financial planners, beside the Atlantic Ocean in Halifax Harbor, while Anthony Williams delivered his thoughts regarding the huge amount of wealth transferring going on these days.

Annual goals, whether outlined at a company’s annual meeting or a personal New Year’s resolution, all have the same challenges. With a full year allotted to accomplish them, the sense of urgency is diminished, and those involved become complacent.