Dairy Farms Saw Triple-Digit Income Gains in 2022

Dairy farmers have endured challenging margins in 2023, somewhat helped by last year’s strong milk prices. The Cornell Pro-Dairy Dairy Farm Business Summary revealed an optimistic financial analysis of 2022, surveying farms of all sizes. Data disclosed that net farm income at least doubled compared to 2021 for farms of all sizes.

The complete report featured surveys of 129 farms, outlining factors that affected farms of less than 500 head, 500 to 999 dairy cows, and 1,000 to 1,4999 cows to 1,500 plus. All farms averaged a 178% jump in income without appreciation in 2022 compared to 2021, with mid-sized farms of 500 to 999 seeing a 202% climb. The smallest farms recorded a smaller bump, but still significant at 125%.

Read more on dairy profitability here.