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Dairy Farm Business Summary and Analysis (DFBS)

June 19, 2014
Dairy Farm Business Summary and Analysis (DFBS)

The objective of the Dairy Farm Business Summary (DFBS) is to enable producers to:
  • analyze their financial situation
  • set future goals
  • make sound financial decisions
The DFBS also allows producers to compare their business to an average of other producers.

"The DFBS has enabled our farm to make solid business decisions on expansions and monitoring income and expenses comparing ourselves to other farms in our area, state and country. Without the DFBS, we believe we will lose critical information that keeps us competitive and eventually lead to an unstable food supply in our region and statewide." -- Mark Stanton, farm operator of 360-cow dairy farm in Albany County, DFBS participant for 20 years.

Records submitted by dairy farmers provide the basis for extension education programs for farmers, applied research studies and classroom teaching. Individual farm data are kept strictly confidential. Participation in the project is free of charge for New York farmers.

The summary and analysis report that producers receive includes:
  • progress of the farm business
  • income statement
  • profitability analysis
  • balance sheet
  • balance sheet analysis
  • statement of owner equity
  • annual cash flow statement
  • repayment analysis
  • cropping program analysis
  • dairy analysis
  • capital & labor efficiency analysis
  • receipts & expenses per cow & per cwt.


DFBS Sample Report (pdf; 60KB)


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Upcoming Events

Learn to Grow Mushrooms - Summer Workshops in NYC

September 18, 2019
Wednesday, 5:30 - 7:30pm
Bronx, NY

Both a food and a medicine, mushrooms are easy to grow at home and on gardens and farms, with minimal start-up costs and materials you may already have on hand. Join Cornell Cooperative Extension, Farm School NYC, and Just Food for a workshop where you'll learn to inoculate a shiitake log, grow oysters on straw, and plant wine cap in wood chips. Everyone takes home materials that will produce mushrooms! We will emphasize the potential for growing mushrooms as a small enterprise for community and local markets.
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Announcements

NY Crop Insurance Availability by County & Crop

Apiculture, Dairy-RP, LGM, Nursery, PRF and WFRP policies are available throughout the entire state. Here is a table showing RMA crop insurance availability by county and crop in New York State.  

If a crop is not covered in your county, you may still be eligible for a written agreement for that crop. Please contact an insurance agent to see if this is an option for you.

More information about crop insurance is available through Cornell's New York Crop Insurance Education Program.

Beginning Producer Benefits for Crop Insurance

A qualifying beginning producer can potentially receive benefits in the crop insurance program. These benefits are designed to help start your operation. In this article, Stephen Hadcock, Capital Area Agriculture and Horticulture Program, outlines the 4 crop insurance benefits available to beginning producers.
1) An exemption from paying the administrative fee for catastrophic coverage and additional coverage.
2) Receive an additional 10 percentage points of premium subsidy for additional coverage policies with a subsidy premium.
3) Utilize the actual production history (APH) of a farming operation that producer was previously involved in.
4) Utilize 80% of an applicable T-yield, instead of the normal 60%, as a substitute Yield Adjustment.

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