Re-examining their budgets, reducing their spending and increasing efficiency allowed several Northeast dairy farmers to earn some profit in 2016 despite low milk prices, according to finance experts from Farm Credit East.
Those who spoke Wednesday during a webinar said they expect that will continue to help farmers this year.
Chris Laughton, the director of knowledge exchange for Farm Credit East, said the farm financing company found farmers on average earned $15 per cow last year when compiling information for its 2016 Northeast Dairy Farm Summary. Last year’s average profit was up from a loss of $30 per cow in 2015 and allowed farmers to earn “basically enough to break even.”
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