Are dairy profits expected in 2024?
It would be useful if we could look into a crystal ball and see what the dairy industry was going to be like in 2024. That insight would help inform the decisions we are making today that will impact the future.
Without fortune-telling powers, we are left to use the data at hand to make predictions about what will happen to milk prices, feed costs, and other farm expenses. Looking for a way to help producers project profitability on their dairies, veterinarian Kevin Hoogendoorn created an app called Zisk. Zisk is a Polish word for profit, and the app is designed to predict a farm’s profitability over the next 12 months.
Looking at the entire dataset of farms currently utilizing the app, the segment of farms predicted to be most profitable in 2024 are those in the Northwest region milking over 5,000 cows, with a profit per cow of $979. Following closely behind are farms of the same size category in the Southeast region, where profits of $960 per cow are predicted. The third most profit per cow ($936) is expected on farms in the Northeast milking 1,000 to 5,000 cows.
Nov. 10, 2023