Dairy Australia has released new farm business tools, adding to the suite of measures already available through DairyBase
The new budgeting feature will assist farmers with forward planning by allowing them to plan and make forward estimates of their business performance.
Dairy farmers can now access new business calculators, making it simpler and easier for them to work out future budgets and manage their profit margins.
The existing DairyBase tool, released in 2015, only allowed users to assess the historical performance of their business without enabling any forward planning.
Farmers will now be able to adjust financial parameters, such as milk income, the cost of fodder and water, and the number of livestock – and receive useful estimates of what their operating cash surplus will be at the end of a year.
It will also be possible to select a year from historical data that resembles the current budget year, based on expected seasonal conditions and physical results from the farm, and make adjustments to better prepare for the current season.
For more information got to: www.dairyaustralia.com.au.
- DairyBase Budgeting can utilise outputs from the Milk Value Portal (MVP) to better assist farmers with their budgeting and planning.
- Once the historical year has been selected users will be able to adjust parameters for: milk price, livestock trading profit, feed purchase prices, fertiliser costs and water costs.
- Farmers can use the most recent financial year as their historical data set, or the historical year that best matches the seasonal forecast, both for operating structure and seasonal conditions.
- The DairyBase calculator allows farmers to identify opportunities to make informed decisions to improve profit and manage risk.