Does Revenue Diversification Improve Small and Medium-Sized Dairy Farm Profitability?

Dairy farmers are well acquainted with managing volatile input and output prices. This article uses a sample of small and medium-sized Minnesota dairy farms that contribute data to the FINBIN farm financial database and finds that revenue diversification strategies have successfully helped dairy far...

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Bibliographic Details
Published in:Choices (Ames, Iowa) Iowa), 2018-12, Vol.33 (4), p.1-5
Main Authors: Mahnken, Curtis L., Hadrich, Joleen C.
Format: Magazinearticle
Language:English
Subjects:
adjusted net-farm-income ratio
Farm Management
FINBIN
Livestock Production/Industries
milk price volatility
Online Access:Get full text
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Summary:Dairy farmers are well acquainted with managing volatile input and output prices. This article uses a sample of small and medium-sized Minnesota dairy farms that contribute data to the FINBIN farm financial database and finds that revenue diversification strategies have successfully helped dairy farmers remain profitable in the Upper Midwest.
ISSN:0886-5558
2162-2884
DOI:10.22004/ag.econ.279865