Northwest New York Dairy, Livestock & Field Crops Enrollment

Program Areas

  • Dairy Management
  • Farm Business Management
  • Field Crops
  • Livestock & Small Farms

Enrollment Benefits

  • Telephone / Email Consultations
  • Ag Focus Newsletter
  • Direct Mailings
  • Educational Meetings & Conferences
  • In-Field Educational Opportunities
  • On-Farm Research Trials

Enrollee Login

Password:

Log In To Access:

  • Issues of Ag Focus Newsletters
  • Helpful Diagnostic Tool:
      What's wrong with my crop?

Annual Farm Business Summary and Analysis Season Is Right Around The Corner

John Hanchar, Farm Business Management
Northwest New York Dairy, Livestock & Field Crops

December 2, 2013

BackgroundRisk management continues to be a common challenge faced by farm business owners. Recent succession planning workshops were presented within the framework of successfully managing human resources, legal and financial risks. Many upcoming programs can be thought of as designed to increase risk management capacities. Risk management tools and their availability receive emphasis.
RiskRisk is variability in outcomes. Agricultural risks relate to production, price, legal, human resources, and financial aspects of the business. For farm businesses, production, prices (both output and input), and financial outcomes, among others vary. Results are not known with certainty. The ability to meet cash obligations in a timely manner, the ability to generate profits, and other financial outcomes are not known with certainty -- they vary over time.
Sound Financial Planning and Control are Keys to Successfully Managing Risks 
An overall strategy for successfully managing financial risk includes sound financial planning and control. 
Financial planning is using financial information to answer the following questions.
1. Where is the business now?2. Where do you want it to be?3. How will you get the business to where you want it to be?
Financial planning practices include

• generating financial statements (balance sheet, cash flow statement, and income statement)
• using results to identify strengths and weaknesses
• developing projections, including those associated with proposed changes to the farm business.

Financial control involves measuring financial condition and performance over time to determine whether or not the business is achieving desired results, and if not asking “Why not?” to identify and implement needed changes.

As the end of the year draws near, the next few months present good opportunities to examine your business’ financial management practices. As a farm business owner, you have financial objectives and goals, written hopefully, or unwritten. These direct your efforts. Do you measure the financial condition of your farm business using the balance sheet? Do you measure financial performance using the cash flow statement and income statement? If you don’t measure financial management factors, then how do you expect to successfully manage the business toward achieving desired financial results?

The statement “If you can’t, or don’t measure it, then you can’t manage it” with its emphasis on measuring outcomes underlies the value and need for sound financial management, especially as it relates to successfully managing risks.

Business Summary and Analysis Tools

Cornell University Cooperative Extension’s Dairy Farm Business Summary (DFBS) Program

  • The objective of the DFBS Program is to allow producers to analyze their production and financial situation, set future goals, and make sound financial decisions.
  • The DFBS allows producers to compare their business performance to that of other dairy producers.
  • The summary and analysis for each farm includes profitability analysis, balance sheet analysis, analyses of annual cash flows and repayment ability, capital and labor efficiency as well as analyses of the cropping and dairy aspects the business.

The DFBS program is a preferred financial management tool for summary and analysis for dairy farm businesses of all kinds.

Financial Statements for Agriculture (FISA) Program

  • FISA is a computer based spreadsheet program that can be used by all types of farm businesses to achieve an objective similar to the one above for the DFBS Program.
  • In practice, FISA’s ability to provide for peer to peer comparisons is limited.
  • The summary and analysis for each farm includes profitability analysis, balance sheet analysis, analyses of annual cash flows and repayment ability, as well as some capital efficiency measures and analysis. The program does not summarize and analyze production aspects of the business. 

Farm Business Summary and Analysis with the NWNY Dairy, Livestock, and Field Crops Program

If you are interested in improving your farm business’ ability to practice sound financial management, then please contact me to learn more about some of the tools available and their value and, or to discuss plans for completing a farm business summary and analysis for 2013. The NWNY Dairy, Livestock, and Field Crops Program has the capacity, using the above tools, to develop valuable farm business summary and analysis. The NWNY team has the capacity and desire to work with a variety of farm businesses -- dairy (small, medium, and large; conventional; organic; grazing; and others), field crop, livestock, and others.



Dairy

Dairy

Livestock

Livestock

Grazing

Grazing

Forages

Forages

Grains

Grains

calendar of events

Upcoming Events

2019 Corn Silage Pre-Harvest Workshop - Penn Yan

September 17, 2019
10:00am to Noon
Penn Yan, NY

Corn silage harvest is drawing near. The way corn silage is harvested and stored is a single event that affects your operation for the entire next year. Are you prepared to set your operation up for success? 
view details

Ontario County Fun on the Farm

September 21, 2019
11:00 am- 4:00 pm
Seneca Castle, NY

Fun on the Farm works to educate non-farm public and our neighbors about agriculture around them. It is fun and educational.

Fun on the Farm attracts thousands of people and gives us the opportunity to communicate to the community the benefits of the agricultural production in Ontario County, the state, and the nation.

The event is free! There are many agricultural products that are available to be sampled. It is the perfect place to try that product you have seen in the store but didn't want to commit to purchasing.

Food is available to purchase for lunch. It is provided by a local service group.
view details

Bovine Reproduction and AI Training Course

September 24 - September 25, 2019
9:30am - 3:30pm
Shortsville, NY

**CLASS IS FULL**

This two-day AI workshop will be held on September 24 and 25. 

Topics covered will include:

• Reproductive Physiology
• Synchronization Protocols
• Heat Detection
• Artificial Insemination
• Proper Thawing of Semen
• Loading A.I. guns
• Practice Breeding Cows

view details

Announcements

Preventing Sexual Harassment on Farms

If you're wondering how to get your farm business in compliance with NYS Sexual Harassment Regulations, you've come to the right place.  The 2018 New York State budget included new regulations addressing sexual harassment in the workplace that became effective on October 9, 2018 for all New York employers, including agricultural employers. All employers are required to have a sexual harassment prevention policy and to provide annual, interactive sexual harassment prevention training for all employees.  Check out the resources developed by Cornell Ag Workforce Development, including step-by-step instructions and farm-friendly training videos.


RMA Announces Additional One-time Changes to Prevented Planting Provisions

June 29, 2019

RMA Announces Additional One-time Changes to Prevented Planting Provisions
for 2019 Crop Year

In response to delayed and prevented planting resulting from above average rainfall and wetness, the USDA Risk Management Agency has made a one-time change to the 2019 crop year prevented planting rules that effectively allows silage corn, if planted as a cover crop following local agricultural expert guidelines, to be acceptable as a post-prevented planting cover crop. Under this one-time rule change, producers are allowed to produce this crop while retaining their prevented planting payment. This change couples with previously announced one-time changes to the prevented planting rules - including expanded acceptable uses for post-prevented planting cover crops and a change in the cover crop haying and grazing start date rule - serve to help those struggling to meet their forage needs due to the weather.

Read the full article from the New York Crop Insurance Education Program.

The USDA-RMA states that "For crop insurance purposes, a cover crop is a crop generally recognized by agricultural experts as agronomically sound for the area for erosion control or other purposes related to conservation or soil improvement." PRO-DAIRY specialists Joe Lawrence and Karl Czymmek and Dr. Quirine Ketterings, Professor and Director of Cornell Nutrient Management Spear Program have released a letter stating "Corn on Prevented Planting acres meets these objectives."


NEWSLETTER   |   CURRENT PROJECTS   |   IMPACT IN NY   |   SPONSORSHIP  |  RESOURCES   |   SITE MAP