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World 13.02.2024

Navigating 2024: Insights into Dairy Profitability with Zisk's Annual Report

Source: The DairyNews
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Amid speculations about the challenges facing U.S. milk producers, Zisk's latest report brings encouraging news, projecting 2024 to be a profitable year. The findings, compiled from over 4,000 farm owners utilizing the Zisk app, reveal insights into herd size, regional trends, and market strategies, providing a comprehensive overview of what to expect in the coming year.
Navigating 2024: Insights into Dairy Profitability with Zisk's Annual Report
freepik.com
Zisk, a free app incorporating data on milk contracts, feed prices, and dairy enterprise profitability predictions, has become an essential tool for dairy producers. Covering 45% of the U.S. herd, the app's third annual report highlights that, despite a decrease fr om previous years, dairy producers anticipate profitability in 2024.

Key takeaways from the report include the significant impact of farm size on profits. Larger farms, particularly those with over 5,000 cows, are expected to outperform smaller counterparts, showcasing lower costs, better prices, and economies of scale. The Southeast emerges as the most profitable region, with an average projected profit of $857 per cow, driven by larger farms in Florida and Georgia.

In the Midwest, the second most profitable region, Wisconsin herds project $1,000 per cow in profits, while South Dakota anticipates $672 per cow. The report underscores the trend of larger herds being more lucrative, with states like Colorado and Utah expecting average profits per cow of nearly $1,300 and $1,100, respectively.

Contrastingly, the Northeast is projected to be the least profitable region in 2024. Despite Rhode Island leading the nation in profit per cow, the overall region faces challenges, with Massachusetts, New Hampshire, New Jersey, and Kentucky expecting some of the lowest average profits in the U.S.

The report reinforces trends observed in previous years, emphasizing the increasing size of farms and the corresponding rise in profitability. Zisk's data reflects the industry's evolution, wh ere larger farms leverage economies of scale and strategic market tools, such as hedging, to navigate potential losses. As the fastest-growing dairy app globally, Zisk's insights provide a valuable resource for dairy producers, offering profitability estimates and projections for the upcoming year.
Lee Mielke
Lee Mielke
editor of the Mielke Market Weekly
27.02.2024
Dairy farm milk production continues to struggle and remained below a year ago for the seventh consecutive month.
Aaron Smith
Aaron Smith
Professor of Agricultural and Resource Economics at the University of California
20.02.2024
Every five years, the Department of Agriculture takes a census of farms, all two million of them. The most recent census occurred in 2022, and USDA released the data this week.
February 2024
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