Protecting Your Profits

By: Center for Dairy Excellence
  • Summary

  • Managing risk and protecting your profits on a dairy farm isn’t always easy, but it’s a necessary part of running your business. Welcome to the “Protecting Your Profits” podcast – a brief monthly update designed to give you the data, production trends, and national and statewide updates you need to manage your dairy’s risk management strategy.

    © 2024 Protecting Your Profits
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Episodes
  • November 2024: New year, new strategy - capturing opportunity and managing dairy market volatility with Jacob Thompson and Andy McCarty
    Nov 11 2024

    Markets change and they don’t care about what you think they should look like – or what you might need for your cost of production. Are you setting yourself up for long-term success by capturing opportunities before they’re too late? Are you adapting to changing feed and dairy markets to guide your approach to risk management on your dairy farm?

    In this month’s free “Protecting Your Profits” webinar, hear from Jacob Thompson and Andy McCarty, two experienced dairy business advisors. They will share how to control what you can through a solid risk management plan, no matter the level of volatility or uncertainty in the markets. As we approach the end of the calendar year, they will dive into the four main risk management products available to dairy producers who want to protect their revenue stream: Forward Contracting, Livestock Gross Margin, Dairy Margin Coverage, and Dairy Revenue Protection. Each program has different tiers, levels, and decisions that make it possible to tailor a plan that’s unique to your dairy operation.

    To receive weekly dairy market updates via email each week, click here to subscribe and get the updates sent to you at no cost each week.

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    1 hr and 4 mins
  • October 2024: Where does PA stand? PA dairy performance indicators snapshot with Rob Goodling
    Oct 7 2024

    In this month's "Protecting Your Profits" discussion, Rob Goodling from Horizon Farm Credit breaks down 17 benchmarks that are part of the PA Dairy Performance Indicators project. From year to year, these benchmarks help us compare individual dairy operations to how the top dairies in the data set are performing financially. Rob shares an overview of the 2023 data and a comprehensive snapshot of herd performance across various sizes and production types – revealing distinct patterns in milk production, costs, and financial outcomes.

    Find out where Pennsylvania stands in terms of herd performance, financial performance and more. Rob also examines how herds participating in both years of the Performance Indicators Project compare to the group averages and shared some of the variation between herd size groups.

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    1 hr and 1 min
  • September 2024: Top 3 farm safety risks and how to keep everyone safe with Dr. Florence Becot
    Sep 9 2024

    What daily responsibilities on the farm have the highest risk? The answer might surprise you. From animal handling and manure application to horizontal silos and working with heavy machinery, dairy farmers are exposed to a large amount of risk on a daily basis. According to 2019 data from the US Bureau of Labor Statistics, the agricultural sector is the most dangerous in America. While most dairy farmers accept the risk involved in the profession and enjoy working with their hands, farm safety should still be a top priority on dairy operations to help protect families and employees. As we approach the fall harvest season, Dr. Florence Becot from Penn State University shares the top three farm safety risks – and how we can be proactive with simple precautions that could save a life.

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    57 mins

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