DS178 - DS178 Dairy Business Analysis Project: 2003...

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DS178 Dairy Business Analysis Project: 2003 Financial Summary 1 A. de Vries, R. Giesy, L. Ely, B. Broaddus, C. Vann, and B. Butler 2 1. This document is DS178, one of a series of the Department of Animal Sciences, Florida Cooperative Extension Service, UF/IFAS. Published January 2005. Please visit the EDIS Web Site at http://edis.ifas.ufl.edu. 2. A. de Vries, Assistant Professor, Department of Animal Sciences; R. Giesy, Extension Agent IV; L. Ely, Professor, Department of Animal and Dairy Science, University of Georgia; B. Broaddus, Extension Agent I; C. Vann, Extension Agent II; B. Butler, Graduate Student, Department of Animal Sciences; Cooperative Extension Service, UF/IFAS, Gainesville, 32611. The Institute of Food and Agricultural Sciences (IFAS) is an Equal Opportunity Institution authorized to provide research, educational information and other services only to individuals and institutions that function with non-discrimination with respect to race, creed, color, religion, age, disability, sex, sexual orientation, marital status, national origin, political opinions or affiliations. U.S. Department of Agriculture, Cooperative Extension Service, University of Florida, IFAS, Florida A. & M. University Cooperative Extension Program, and Boards of County Commissioners Cooperating. Larry Arrington, Dean Introduction The Dairy Business Analysis Project (DBAP) was initiated in 1996 by the University of Florida in an effort to measure and document the financial performance of Florida dairy businesses using standardized accounting measures. The University of Georgia has been a formal collaborator since 1998. A committee of dairymen appointed by Southeast Milk, Inc. oversees the project and helps direct its course. The DBAP website is http://www.animal.ufl.edu/dbap. Financial data for the year 2003 were collected from participating dairies and screened for completeness and validity. Each dairy then received a report detailing its financial results compared to the average results for the other participants and the six dairies with the highest net farm income from operations per cwt. This publication is a summary of the financial performance in the year 2003. It is intended for general use by dairy farmers, the allied industry, and government, and educational professionals. Data Collection and Accounting Methods Dairy businesses in Florida, Georgia, and Alabama were asked to participate in DBAP. Participants were not a random sample of all dairies in the three states. The financial performance results in this publication are therefore not necessarily representative of the results of all dairies in Florida, Georgia, and Alabama. Most of the data were collected by extension agents when visiting farms using a standardized data collection spreadsheet. Occasionally, data were sent in by the dairy farms. The financial data were either entered into the spreadsheet on the farm or mailed in on paper copies of the spreadsheet. The accounting methods follow the
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DS178 - DS178 Dairy Business Analysis Project: 2003...

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