For farms that participated in the Dairy Farm Business Summary and Analysis Program (DFBS) in 2023, earnings were impacted by a significant drop in the net milk price received, which fell 18 percent from the record high prices in 2022. While there were increases in cow, calf, and crop revenue that partially offset the drop in milk income, the overall decrease in farm revenue coupled with a one percent increase in costs resulted in a 66 percent decrease in net farm income and an average rate of return of 4.0 percent without appreciation. While the average showed significant decreases, variation continued to be wide in earnings and some farms continued to make financial progress. DFBS data from 2023 provides insight into key measures of productivity, efficiency, and financial performance for New York dairy farms during a year of weak to poor earnings.