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12 criteria to measure dairy farm success

Farm Progress
BIGGEST EXPENSE: Feed cost is usually the No. 1 expense on a dairy farm, consultant Gary Sipiorski said. It can account for 30% to 45% of the milk check.
Farm Financial Standards Council offers “Dairy’s Dozen” to determine farm’s profitability.
After the farm crisis in the 1980s, the Wisconsin Banker’s Association started to analyze a dairy farm’s financial situation,” said Kevin Bernhardt, agribusiness professor at University of Wisconsin-Platteville. This group evolved into the Farm Financial Standards Council. The group still meets once a month.
“The Farm Financial Standards Council looks at 12 factors to determine if a dairy farm is profitable,” Bernhardt explains. ....

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Does your farm need a chief financial officer or controller?

Davon Cook | Dec 16, 2020
As farms grow in size and complexity, many owner-operators find they need more robust financial expertise. Increasingly, they hire a controller or Chief Financial Officer (CFO) to take their accounting and finance acumen to the next level.
KCOE-Isom, a large agricultural consulting and accounting firm and the company I work for, recently conducted a survey to benchmark compensation packages for controllers and CFOs that provides specific, timely data from a cross-section of farms. Coupling this data with what we hear in peer groups and while coaching leaders may offer insight into how to make the most of this opportunity. ....

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