Income Over Feed Costs in the Dairy Enterprise
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Monitoring financial performance and production efficiency on a frequent basis is necessary for the economic sustainability of the dairy business at all times, and it is critical during times of low milk prices, high feed prices, or both. Income over feed costs (IOFC) is one of numerous financial performance indicators that managers can apply to support profitable decision-making. Calculating, understanding, and using IOFC in day-to-day management is the focus of this publication.