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The year 2020 has been one for the record books concerning major business disruptors that have caused economic and emotional stress. The COVID-19 pandemic, wildfires, extreme weather, and other global events, are black swans or unusual aspects that are creating an environment that is quite the opposite of “business as usual.”
The 2020 coronavirus (COVID-19) pandemic has certainly left many Americans scrambling and having to make lifestyle changes they never expected. While many Americans are left without jobs, there are lots of “essential” employees still working.
Between USDA assistance such as the Commodity Food Assistance Program (CFAP) payments, Paycheck Protection Program (PPP) loans and everything in between, it will be critical for dairy farmers to stay up to date on projected year-end numbers to avoid unpleasant tax surprises. The first place to start is with accurate records.
Ever since the increasing popularity of non-dairy alternatives, dairy farmers have suffered from depressed prices and marginal profitability, causing considerable stress throughout the industry.
The dairy industry is known for using a lot of metrics. There are reproductive metrics, financial metrics, production metrics and nutrition metrics. In the best cases, metrics help us make decisions and justify the decisions we make.
As a dairy business consultant, I’m frequently asked two questions: 1) With components contributing most of the pay price, and the high cost of trucking and marketing milk, should I be focusing more on components and less on volume? and 2) We are good at enhancing butterfat and protein tests by manipulating the lysine-to-methionine ratios in the diets, but does it pay to do so when milk prices are low?
“My feed bill is too high. How can I cut my feed costs?” As nutritionists, it’s a question we hear often. And, on dairies with robots, it’s no different.
Change is hard. Most of us are hardwired to maintain relationships as long as possible. But there are times when we have to make a change. The reasons may vary, but when it is time to go, it is time to go.
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