Farm Finances | Want to START dairy farming? WATCH THIS! | Dairy Farm BENCHMARKING

Honestly not sure how this video will be received, however, nothing ventured nothing gained!! If you enjoyed this, or didn't, let me know in the comments!

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[robertmark]

Absolutely loved the video, please keep making them.
I have the same experience of being told to keep achieving academically because it is “so much better” than farming, but this isn’t necessarily true. Great to hear from somebody in a similar situation.

[TheFarmerTheCheesemaker]

Great idea! Love the data… BUT…. Flip the screens next time. In other words, show the charts/ spreadsheet big and you small in the corner. It’s too hard to read the data and follow along as it is. That aside, it’s great to hear other farmer’s processes. And I think it’s important messaging that we don’t get things handed to us, that so much affects our profit or loss, etc.

[chuckle]

Very interesting one of my mates has recently done benchmarking and they told him his suckler doesn't make any money which makes you question benchmarking as i would say he's in the top 20% if not 10% and is investing in his farm without borrowing we're both quite open with our finances which leads to some good discussions. Keep up the good work we need more like you in tge industry.

[johnc]

Brilliant watch, I’m a young dairy farmer in the south and find you’re enthusiasm for farming refreshing compared to most of the doom and gloom we hear day in day out👍🏻

[williammulholland]

Great video. Great to see your attention to detail and there are principles that can be applied to any business

[scottsalisbury]

I love the way your brain saw the opportunity. I can relate so well.
Over the next 2 months my family and will sell our city home and take over an existing dairy farm. Thank you for this video. It was very informative. Brief and to the point.

[timatkinson]

Very well done

It would have helped, but perhaps added another layer of complexity to cover land values and tax.

Ie - that a lower trading business performance can be accepted if asset value is appreciating and tax advantages are used.

There is a real separation between tenant farmers and owners. Also between family farms who perhaps have no intention of selling and those who have bought a farm for 20 years and farm it primarily for asset appreciation.

[pjdee]

Great video. Good numbers for anyone thinking of doing it. It is a very complex business when you take the milk price and the input cost volatility into account. So many moving parts of the equation.

[philipranyard]

I too thought you are wasted on dairy farming, until you said you don't use side sheets on the pits!! I'm now struggling to take you seriously 😂😂. Great videos keep it up.

[michaeldoyle]

Well said, love the videos, from a full time dairy farmer/ full time teacher. Don’t need to do both but love both

[gerrymulligan]

Fair play.ya.no farmer tell nothing all no say.no money in farming but still keep farming no alot work long hours

[Martin-tsy]

My hats go off to you very professional video and enjoyed the video and the channel ❤

[ryanlennox]

Fantastic video. Your switched on alright and thats what it takes to be good in business

[ronanlucid]

Love the videos very insightful and agree fully re how farmers are eunderappreciated by business community, when one consider how volatile revenue and indeed some Costa are farmers should be.massively applauded for their abilities, this coming from someone in another business.

[simondennis]

Great video. I’m a beef farmer and was told similar things when coming home from. ‘good’ job 😉
I am not up to date with my bench marking at the moment, but when I have done it in the past, I moved away from profit per cow, profit per ha or yield as my primary figure to simple percentage return (Annual Equivalent Rate like a bank account) on cash or other value (eg unpaid labor) as I felt this was ultimately the most important. When I mentioned this at a benchmarking meeting (in England) a few years ago that was yield / income / health KPI focused, I was practically asked to leave 😂

[johnhughes]

Im new to your chanel north wales based, interesting content a sensible aproach to a farming buisness, so many call farming a way of life in some respect it is, but as you sensibly point out its the bottom line that pays the bills, get that right and you will be rewarded with a better lifestyle, i shall look forward to your next vlog, good luck.

[JRCSounds]

I might be nit picking, but the graph at the start silages are just kpi’s not management accounts- they are more so used in correlation with management accounts/ financial statements. Profit also doesn’t equal cashflow with neither equaling what in your pocket. You can have all the information but it’s what practically happening and what you can do it with. You seem to be brilliant at using this information to make your decisions

[tkinvy]

Top video & one that was missing in this space 👌
Would you consider moving away from profit per cow as main benchmark to profit per hectare/acre utilised?
Just my personal view but the profit per hectare benchmark levels out the performance between high input, low input & all systems in between at the same time highlights the increased risk associated with increased inputs.

[farmstylemacd]

Soon as I seen your face I subscribed. I seen you on farm flix. Smart lad can wait to get a look over your channel 👍

[thedairydiary]

Brilliant and honest video. Is the milk price in NI only based on volume not solids is that way volume is more important in NI?