Comparing New York dairy farm characteristics, costs, and performance across four quartiles of profitability in 2022

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Abstract
In 2022, the milk price paid to farms reached a 30-year high, according to data from New York dairy farms participating in the Dairy Farm Business Summary and Analysis Program (DFBS). These data also show that 2022 was the third most proftable year in the past thirty, after 2014 and 2007. The average rate of return on all assets without appreciation for the same 130 New York dairy farms rose from 4.2 percent in 2021 to 11.6 percent in 2022. Despite this increase in average earnings, variation across individual farms was high, and not all farms were proftable in 2022. DFBS data from 2022 provides insight into key measures of productivity, effciency, and fnancial performance for New York dairy farms during a year of strong earnings.
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2023-10
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PRO-DAIRY
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PRO-DAIRY; dairy; business; management; farm; summary; profitability
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Government Document
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fact sheet
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