Know Your Numbers: Strategies to Improve Cash Flow
Posted: November 23, 2013
Good feed management practices and having cows receive the best nutrition possible are vital to maintaining profitability on a dairy farm. In 2014, the Penn State Extension Dairy Team is offering a training program on developing a cash flow statement to include a farm's cropping and feeding management plan to ensure proper utilization of home raised forages and feeds. Now is the time for companies and organizations to schedule a workshop for their producers.
Programs will be from 9:30 a.m. to 2:30 p.m., with locations determined on a case by case basis. There is a $50 per farm registration fee which covers the cost of training, materials and lunch, and allows multiple business partners from the same farm to attend as a group without an additional charge.
Available dates in 2014 include: January 14, 16, 21, 23 and 30, and March 6, 11, 13, 18, 20 and 27.
Part of the program will explore the concept of alternative forage plans from a feed management standpoint. Experts will discuss the strategies for harvesting, storing and incorporating alternative forages into a feeding program.
The Extension Dairy Team can accommodate groups of 5 to 10 farms. It is highly recommended that the winter dates be scheduled as soon as possible to ensure availability of extension specialists. Laptops will be provided and an extension specialist will be partnered with each farm to assist in data entry. They will also work with each farm to revise a cash flow plan if one has been completed, or to complete a new plan.
This program is eligible for 2 SmartStart credits from AgChoice Farm Credit.
Companies and organizations interested in presenting this workshop to their producers should contact: Virginia Ishler, Penn State nutrient management specialist, at 814-863-3912 or firstname.lastname@example.org or Tim Beck, Extension Educator, at 717-870-7702 or email@example.com.
If an individual farm is interested in participating, it is recommended that you contact one of your businesses/ consultants/ suppliers to check if they are interested in hosting a group of clients.
For more information, visit www.extension.psu.edu/animals/dairy.