E22-Lancaster Farming, Saturday, January 4, 2003 Monitor Dairy Business Performance UNIVERSITY PARK (Centre Co.) With the turn of the new year, dairy producers are looking forward to better times ahead. Yet the challenging times most producers faced in 2002 can represent an opportunity to evaluate how the business performed in less than desirable economic conditions. Milk prices in four of the past six years have been at or near record high levels. Managing a dairy business when prices are in the range of $l5-$l6 per hundredweight milk is certain ly less challenging than in the current price environ ment. Conducting a business analysis in good eco nomic conditions can mask possible weaknesses of the business and distort the owner’s perception of the need to take corrective action. Participating in a dairy business analysis and benchmarking program can help producers de termine opportunities to improve business perform ance. In recent years, Penn State University has formed an alliance with Cornell University to bring the Dairy Farm Business Analysis program to Pennsylvania producers. This program has pro vided feedback to New York’s dairy producers for many decades. The program provides producers with a comprehensive view of how their business is performing. By examining key benchmarks, ■ such as return on assets, operating expense ratio, I asset turnover ratio, percent equity and term I debt and lease coverage ratio, the Dairy Farm I Business Analysis can help producers answer I five key questions they must answer in conduct- I ing an annual business analysis. Those questions I are: I • Is the business profitable? (Is it generating acceptable returns to the resources allocated to it?) • Is the business financially efficient? (Is it ef ficient in spending money to produce a prod uct?) • Is the business capital efficient? (Is the busi ness utilizing capital assets efficiently?) • Is the business on sound financial footing? and • Is the business able to meet its financial obli gations? If the answers to any of these questions is “no”, the Dairy Farm Business Analysis can provide insight as to why by examining more de tail-oriented benchmarks such a labor efficiency, production efficiency, and cost control indica tors. Producers can compare their indicators to benchmarks developed from all the farms that Cornell Releases Community-Based Ag Guide ITHACA, N.Y. The Community, Food and Agriculture Program (CFAP) in the Department of Rural Sociology at Cornell University has an nounced the publication of “Growing Home: A Guide to Reconnecting Agriculture, Food, and Communities.” Written by Joanna Green and Duncan Hil chey, “Growing Home” is grounded in the belief that community-based food and agriculture sys tems initiatives are an effective means for achieving lasting community development. Rec ognizing the economic, ecological, and social benefits of food and agriculture systems initia tives, this publication is designed to provide agri culture development specialists, economic devel opers, planners, extension educators, community development advocates, and others interested in strengthening communities with the tools they will need to turn visions into realities. “Growing Home” includes a discussion of contemporary food and agriculture systems in a globalizing context; an overview of how locally based agriculture and food systems benefit com munities; a section full of ready-to-implement strategies; a step-by-step guide to the commu nity-based food and agriculture development process; and six planning worksheets. Contents include: • Understanding the Global Food and Agri culture System; • Reconnecting Agriculture, Food, and Com munities; • 'Engaging the Community in Creating a New Vision; • Examples of “Growing Home” Develop ment Projects and Strategies, and • Making It Happen in Your Community; De velopment with a Vision. To order a copy, contact Gretchen Gilbert at the Community, Food, and Agriculture Pro gram: phone (607) 255-9832 or email gcg4@cornell.edu. Cost is $25. To learn more about the Community, Food and Agriculture Program (CFAP) visit CFAP on line at: http://www.CFAP.org, or contact Heidi Mouillesseaux-Kunzman, CFAP Program Coor dSnator, at (607) 255-0417 or ft I ft*** % llfttftl i ft participate in the program to see how they rate in key performance areas. The Dairy Farm Business Analysis program is an essential component of the Businessense program offered by Penn State’s Dairy Alliance team. Pro ducers who participate in the Businessense pro gram have the opportunity to leant best manage ment practices in business and information management in a hands-on and interactive learning environment. The group discussion sessions provide producers with an opportunity to leant from each other as well as the instructors. Conducting a dairy farm business analysis and discussing management practices that enhance business performance with fellow producers are two important best management practices that can help dairy producers operate competitively, even in a tight economic environment. Businessense sessions have been scheduled for numerous locations around the state this winter. To leam more about this program, producers can email Brad Hilty, Information Management Specialist with the Dairy Alliance program at HYPERLINK “mailto:bhilty@psu.edu” bhilty@psu.edu or call the Dairy Alliance office at (888) 373-PADA. Jt -> J 'Jt 'Jt 'Jt 'Jt 'J J ’> 'J J Jt ’Jr •> OJr T >~> -r i>j> 'Jr 'Jr -Jr alia dßlwHfVa» BFGoodrSch nWK&Mftffitki TWwiype • 45° Head Deston 13,6x28 6 ply 18.4x34 6 ply TTTI 15,5 X 38 6 ply. {*gg 18.4 x 88 6ply ggj 20.8x38 8 ply 3 Rib Bias, Tube Type 6.50- 6 ply 7.50- 8 ply 10.00-16 8 ply OTHER TIRE SIZES AND TUBES ALSO AVAILABLE WMnpmMl ftaunMrtFM 1257 Ml. Holly Pike 6551 Tilghman 344 Green Spring Rd. 1607 GaUer Road 1110 Roosevelt Ave. Carlisle, PA 17013 Allentown, PA 18106 Newville, PA 17241 Chambersburg, PA 17201 York, PA 17404 717-243-1382 610-481-0076 717-776-5127 717-267-3600 717-848-6347 800-745-8069 888-772-8353 717-776-4484 Fax 877-222-0051 717-846-5874 Fax 717-243-6014 Fax 610-481-0075 Fax 800-745-8214 717-267-0034 Fax Allen Hoover Repair Inc. RRI, Box 227 Mifflmburg, PA 17844 570-966-3821 .SEE.US'ATJMEJtgySXOME #2, Booth 202 & 205 Farm & Ranch Radial RIW, Tubeless 46“ TteafUteajK^ 13.6R28**... -fiH2 18.4R34*, 400/75R38** (15.5R38),...12H 18.4R38* |ss* 20.8R38* HlGHlflNDS’&dl Mar-Bar Tire Service 4285 Hanover Road Hanover, PA 17331 , 717-633^412 * % . Lancaster Fanning Editorial Staff: Your Source For Ag News Our time and talents are invest ed heavily in bringing news from the region's ag events to your home and we've been doing so a long time. The Lancaster Farming editorial staff has been recognized by various organiza tions; • 2 Keystone Awards. • Ag Journalist of the Year. • Dairy Council and NEAFCS Honors. Andy Andrews, editor, 13 years of service to Lancaster Fanning, 21 years in the journalism field. Winner of the 1992 PennAg Ag Journalism of Year honors; win ner of 1993 Keystone Press Award; honorable mention, 1995, Keystone Press. Tires wmmtt Smith's Farm Equipment 30 Acker Road Newport, PA 17074 717-567-356^ Lou Ann Good, food and fami ly features editor, 15 years of service to Lancaster Farming, 18 years in the journalism field, win ner of the Dairy Council Inc. Friend of Nutrition Education and National Extension Association of Family and Consumer Sciences honors. Michelle Kunjappu, staff writer, two years of service to Lancaster Farming, three years in the journalism field. Dave Lefever, staff writer, about two years of service to Lancaster Farming, four years in the journalism field. Ag & Industrial 'Grert««t“MICHEUN AQRi SIB Ratfial RIW, Tubetoss, 45°ThadDesto(L mem**.,.. fj?? 18.4R34** ■••■l2s 528/85R 38* e0.8R38*)...fg” 18.4R38* ***« BACKHdUPtitittSTRIAL XM27 • R 4 Radial, Tubel^__- 16.9R24 ,75R24 mi 19.5R24...,. Prices Subject To Change Berkeley Tire 79 State Street Everett, PA 15537 814-652-2221 800-829-4213 814-652-2936 Fax Bruce B. Gamble & Son 24159 Back Road PO Box 627 Concord, PA 17217 717-349-2670 Fax 717-349-9970
Significant historical Pennsylvania newspapers