Alberta Agriculture and Forestry is once again offering the Dairy Cost Study program to Alberta producers.
“With changes in today’s environment and economy, there seems to be renewed interest in building business plans, following cost of production and getting adequate returns for that production,” said Pauline Van Biert, a provincial research analyst. “The Dairy Cost Study is a business analysis program that provides economic analysis and farm business management information to dairy producers using their own numbers.”
It is similar to the Agri-Profits program except that it provides a business analysis for just the dairying aspect of the farm.
“Results are reported as total costs, costs per cow, and costs per hectolitre sold,” said Van Biert. “Dairy farmers can easily see how much investment they have made, costs incurred, and revenues received for the milk they are producing.”
Unlike Agri-Profit$, the Dairy Cost Study reports on the current year with farmers filling in their own sheets on a monthly basis starting in January. A farm visit is also made to those who are new to the program.
The program is free and data from all participants is used to establish benchmarks.
“Producers participating in the program tell us that they have become more effective at analyzing, budgeting and planning, and that they are making better management decisions,” said Van Biert. “They understand what their long-term average costs are, can identify targets for what their costs should be, and are more effective at identifying business options and opportunities.” Enrolment for this year’s program is open until the middle of January. For more information or to register, contact Van Biert at 780-415-2153 or [email protected].