A new year brings excitement and opportunity, but as a dairy owner, it can also come with apprehension. Dairy producers across the United States continue to face countless challenges as they experience a quiet milk market and the potential of shrinking margins. Many people expected 2023 to be hard, and it is looking like similar concerns are flowing over into 2024, with cost of production approaching expected pay price for early 2024.
Dairying will continue to be a challenging endeavor as milk prices remain volatile. Despite this, herds of all sizes can make profitability a reality with increased efforts focused on management, animal genetics, nutrition programs and increases in overall efficiency.
The following are ten recommended areas of focus for 2024 and beyond:
Consider selling carbon credits: There is now an established feed additive (Agolin® Ruminant) on the market that is research-proven to lower enteric methane while also enhancing milk production and feed efficiency. Realized increases in milk production of 2 to 4 pounds, while feeding this ingredient, have conceptualized ROIs of more than 8:1 over the cost of the ingredient. Additionally, the dairy producer can then sell the carbon credits created by their animals in the carbon marketplace, where the value of these credits is currently on the rise due to increases in demand. This program is already underway, with enrolled dairy producers across the U.S. being compensated for their enteric methane reductions while increasing the sustainability of their operations.
JANUARY 24, 2024,
BY JON PRETZ, PH.D.
