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The Manager - Profit Management

November 2011

Use profits to manage variability — This year’s changes in milk price, feed costs and earnings continue a longrunning trend of variability in earnings on dairy farms. Here are ideas on how to manage.
By Jason Karszes

Five keys to unlock the door to profit — If you’re a reactive profit taker, use these keys to maximize your dairy’s profit. Then use those profits to proactively build your balance sheet.
By Rick Hermonot

Budget for better decision making — Budgeting is a valuable dairy farm financial management practice to project future performance associated with a proposed change
By John Hanchar

Prepare for the next milk price downturn — By building working capital, you can help to shield your dairy from the difficulties that come with milk price variability
By Jason Karszes and Betsey Howland

Pay down debt to position your dairy for the future — Use earnings to accelerate debt payments during times of positive cash generation and higher earnings to help your dairy position itself for the next downturn or opportunity
By Jason Karszes and Betsey Howland

Plan your future; work your plan — The Trundy family takes steps to secure the future of its Maine dairy farm
By Cathy Wickswat

Profit from thoughtful tax strategies — Wise dairy farm managers intertwine strategies for income tax savings with those to improve the long-term financial health of their dairy and smart ways to use elusive profits
By Tim Moag

Is your dairy meeting performance goals? — Data from the 54-year-old Cornell Dairy Farm Business Summary provide the basis for evaluating your dairy’s production and financial performance
By Wayne Knoblauch (Excerpt from Dyson School of Applied Economics and Management paper)