Business

Business




VIDEO: Cash Flow Management and the Annual Operating Cycle

Nicole Tommell, Area Ag Business Management Specialist/Team Leader
Central New York Dairy and Field Crops

Last Modified: February 12, 2021

CCE ENYCH Ag Business Educator, Elizabeth Higgins's program on cash flow management and the annual operating cycle. Lack of cash is one of the primary reasons why small businesses fail. Learn to to use various tools and strategies like loans, lines of credit, managing timing of payments,


VIDEO: Credit as a Risk Management Tool

Nicole Tommell, Area Ag Business Management Specialist/Team Leader
Central New York Dairy and Field Crops

Last Modified: February 12, 2021

Not all debt is created equal. Some loans leverage other peoples money to help you make money, some loans just dig you further in a hole. Can you tell the difference? Join CCE CAAHP Ag Business Educator, Dayton Maxwell, for a program on Assessing and Using Credit in Your Agricultural Business.


VIDEO: Knowing Input Costs to Maximize Profits & Seed Buying Example

Nicole Tommell, Area Ag Business Management Specialist/Team Leader
Central New York Dairy and Field Crops

Last Modified: February 12, 2021

CCE CNY Dairy and Field Crops Ag Business Educator, Nicole Tommell on managing your input costs in your farm business. Managing your costs is a key aspect of being profitable.


PPP and EIDL Fact Sheet #4

Nicole Tommell, Area Ag Business Management Specialist/Team Leader
Central New York Dairy and Field Crops

Last Modified: August 31, 2020

PPP Update


CARES Act's Emergency Resources for Farm Businesses: PPP

Nicole Tommell, Area Ag Business Management Specialist/Team Leader
Central New York Dairy and Field Crops

Last Modified: April 2, 2020

The recent CARES Act provided additional emergency funding through Small Business Administration (SBA) for businesses who are facing losses due to CORVID-19.  


Are you ready for tax season?

Nicole Tommell, Area Ag Business Management Specialist/Team Leader
Central New York Dairy and Field Crops

Last Modified: April 15, 2019

With the ushering in of the New Year, many farm businesses begin preparing for tax season.  Whether you use QuickBooks, Excel or a ledger book system, accurate record keeping is essential for a smooth accounting session.  Some farm families' visit with their accountants during the 4th quarter to begin compiling information needed to complete their tax documents.  Unfortunately due to our tough harvest season, many may not have had the opportunity to visit with their tax professional.  


Human Resource Management: The devil is in the details…

Nicole Tommell, Area Ag Business Management Specialist/Team Leader
Central New York Dairy and Field Crops

Last Modified: April 15, 2019

Now that tax season is coming to a close, machinery is prepped and ready for impending field work, I would like to challenge farm owners to review any human resource items that may have been overlooked after January 1st.  Although it seems redundant, a short review of all necessary trainings and employee files will be beneficial for the employee and the employer.  


When Planting Goes Wrong...

Kevin Ganoe, Area Field Crop Specialist
Central New York Dairy and Field Crops

Last Modified: April 15, 2019

Prevented Planting & Replant Provision in Crop Insurance - 2019 Crop Year NY


Do's and Don'ts When Facing Financial Difficulty

David Balbian, Area Dairy Specialist
Central New York Dairy and Field Crops

Last Modified: August 1, 2016

The following, prepared by Wayne A. Knoblauch, Professor in the Department of Applied Economics and Management Cornell University in 2009, is applicable today.  

Article was reprinted in the August 2016 issue of the Central New York Dairy News





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Topics covered include cattle nutrition, handling and vaccine protocols.

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Final Dairy Farm Business Summary and Analysis Program Progress Report 2021

The fourth and final DFBS Progress Report for 2021 summarizes the progress made from 2020 to 2021 for 136 participating farms.

Find the report here.

As farm businesses across New York analyze their financial performance by utilizing the Dairy Farm Business Summary and Analysis Program that is supported by Cornell University, Cornell Cooperative Extension, and PRO-DAIRY, the changes that occurred from 2020 to 2021 can be reviewed. An important purpose of management is to compare how your farm changed from one year to the next, how this compares to your business goals, and how this compares to the industry. Understanding what changes occurred and determining why they changed can help in preparation for making business improvements in 2022.

The report consists of five sections:
- Average of all farms (136 farms)
- Less than 500 cows (34 farms)
- 500 to 999 cows (32 farms)
- 1,000 to 1,499 cows (37 farms)
- 1,500 cows and greater (33 farms)

Highlights from the progress report
- Labor efficiency improved in 2021, with a 2.3 percent increase in cows per worker and a 4.9 percent increase in pounds of milk sold per worker. Hired labor costs per worker equivalent also increased 5.1 percent.
- Gross milk price per cwt increased 7 percent from $18.56 in 2020 to $19.77 in 2021.
- Hay dry matter tons per acre and corn silage tons per acres increased 19 percent and 5 percent respectively. This contributed to the increase of accrual crop receipts of 203 percent from 2020.