Farm Credit East released its 2014 Northeast Dairy Farm Summary and hosted a webinar to review the results and look ahead at 2015 dairy markets.
While dairy farms on the average had very strong earnings in 2014, farm milk prices have fallen dramatically since the beginning of the year. Farm Credit East’s Northeast Dairy Farm Summary is used extensively throughout the Northeast to help farms benchmark their results and identify areas for potential improvement. This annual report compiles the financial results of hundreds of Northeast dairy farms to provide comparisons and analysis for individual producers to use in their own management. This year, 368 dairy farms participated.
Farm Credit East held a webinar, which provided an overview of this year’s report from Chris Laughton, Farm Credit East director of knowledge exchange. In addition, Bill Zweigbaum, Farm Credit East business consultant, commented on the results and presented an outlook of the 2015 dairy market. As part of his role as a consultant, Mr. Zweigbaum works with individual farm operations to improve profitability.