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Dairy Farm Business Summary: New York Dairy-Cash Crop Summary 1986

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Abstract

Dairy farm business summary (DFBS) projects are an integral part of Cornell Cooperative Extension's agriculture program in New York State. The Department of Agricultural Economics of the New York State College of Agriculture and Life Sciences, and County Extension staff, cooperate in sponsoring DFBS projects. In 1986, more than 500 dairy farmers participated. Business records submitted by dairy farmers from 45 counties in the State provide the basis for continued Extension educational programs, data for applied research studies, and for use in the classroom. Regardless of the use of the data, confidentiality of individual farm data is maintained. Cooperative Extension agents and specialists enroll the cooperators and collect the records. Each cooperator receives a detailed summary and analysis of his or her business. More than 70 percent of the agents and specialists are using a micro computer in their offices and/or on the farm to process and return the individual farm business reports for immediate use. Regional reports are prepared by Cornell faculty and used by DFBS cooperators and other farmers to compare their farm with regional averages. The DFBS program helps farmers develop managerial skills and solve business management problems. Accrual procedures have been used to provide the most accurate accounting of farm receipts and farm expenses for measuring farm profits. An explanation of these procedures is found on pages 3-5. Four measures of farm profits are calculated on pages 6 and 7. The balance sheet and cash flow statement are featured on pages 8 through 13. The dairy program analysis includes data on the cost of producing milk (page 17). This special Dairy-Cash Crop Summary is an average of 22 dairy farm businesses that have crop sales totaling more than 10 percent of their accrual milk receipts. The farm income, financial summary, and business analysis sections of this report include comparisons with average data of 414 owned dairy farms in the State. A more detailed analysis of the 414 dairy farms is contained in Smith, Stuart F., Wayne A. Knoblauch, Linda D. Putnam, Dairy Farm Management Business Summary. New York. 1986, A.E. Res. 87-20, July 1987. This report is prepared in workbook form for farmers to use in the systematic study of their farm business operations. Business records for 22 farms in Albany, Cayuga, Chautauqua, Columbia, Genesee, Lewis, Niagara, Oneida, Ontario, Orleans, Seneca, Wayne, and Yates Counties are summarized in this publication. These farms do NOT represent the "average" for all dairy-cash crop farms in the State. Participation was on a voluntary basis, therefore, not all areas or types of operations were represented.

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A.E. Ext. 87-20

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1987-08

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Charles H. Dyson School of Applied Economics and Management, Cornell University

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