Appendix Five -- Comparing Financial Performance of 19 Graziers when Separated For Calving Practice, and DHI Use.  DRAFT
NFIFO = Net Farm Income from Operations.  *FFAMIS values for NFIFO and NFIFO/Cow adjusted to comply with grazing study procedures.
15 Non Seasonal Graziers 4 Seasonal Graziers 9 DHI Graziers 10 Non DHI Graziers Average of 19 Graziers FFAMIS
# of 1999 Graziers 16 5 21
$NFIFO
1995 42,745 34,951 52,896 30,492 41,104 38500*
1996 47,838 23,839 60,362 26,967 42,786 43899*
1997 47,488 20,375 56,625 28,420 41,780 46122*
1998 73,500 42,837 86,697 49,358 67,045 86572*
1999 $61,341 64,569 62,110 69859*
$NFIFO/Forage Acre Harvested
1995 255 288 303 216 262
1999 356 272 331
$NFIFO/ Cow
1995 832 764 905 712 819 505?*
1996 844 456 922 574 768 527*
1997 823 384 862 584 737 483*
1998 1,165 668 1,253 850 1,059 834*
4 Yr. Ave. (98 A.) 916 568 986 680 846 587*
1999 1,024 604 874 782*
Cash Income/Cow
1995 2660 1902 2800 2163 2,514
1996 2907 1835 3013 2296 2,695
1997 2671 1711 2776 2124 2,482
1998 3035 2139 3231 2429 2,844
1999 6044 4184 2,723
Allocated Cost/Cow
1995 2085 1401 2168 1691 1,954
1996 2085 1432 2155 1704 1,956 2869
1997 2097 1257 2162 1653 1,932 2813
1998 2946
1999 2977
Allocated Cost/Cwt. Eq. Milk Sold
1995 9.28 8.38 9.18 9.10 9.15 10.96
1996 10.4 11.22 10.26 10.92 10.51 12.76
1997 9.81 9.35 9.85 9.61 9.75 11.8
1998 12.42
1999 11.79
Basic Cost/Cwt Eq. Milk Sold
1995 6.91 6.84 6.61 7.34 6.90 7.85
1996 7.66 8.64 7.41 8.43 7.79 8.55
1997 7.23 8.03 6.95 7.94 7.34 7.41
1998 8.23
1999 7.72
Invest/Cow
1995 6,619 3,995 6,743 5,346 6,116 7223
1996 6,369 3,895 6,425 5,200 5,881 7630
1997 6,636 4,829 6,701 5,769 6,280 6752
1998 6,215 4,439 6,468 5,159 5,837 7291
1999 6,044 4,184 5,378
Debt/Cow
1995 2,128 1,602 2,132 1,898 2,027 2507
1996 2,094 1,568 2,100 1,853 1,990 2604
1997 2,192 2,490 2,083 2,455 2,251 2748
1998 1,979 2,248 1,946 2,134 2,037 2849
1999 1,729 2,217 1,964
Numbers of Cows
1995 51.4 45.8 58.4 42.8 50.2 76
1996 56.7 52.3 65.4 47.0 55.7 84
1997 57.7 53.0 65.7 48.6 56.7 92.5
1998 63.1 64.1 69.2 58.2 63.3 99.5
1999 60.0 106.9 71.1 96.3
Lbs. Milk Sold/Cow
1995 18,043 12,832 18,813 14,869 17,043 18436
1996 17,036 10,616 17,138 13,428 15,769 18493
1997 17,485 10,959 18,002 14,010 16,200 19057
1998 17,449 11,753 18,430 13,873 16,231 20198
1999 16,838 13,048 15,481 20210
Annual Ave.Milk Price
1995 13.23 14.04 13.38 13.42 13.4
1996 14.9 15.73 15.12 15.04 15.08
1997 13.14 13.68 13.38 13.15 13.26
1998 15.45 16.73 15.87 15.59 15.72
4 Yr. Ave. 14.18 15.04 14.44 14.30 14.36
1999 15.04 15.92 15.25
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Angela Faris Radtke: