UNIVERSITY PARK, Pa. — Penn State Dairy Extension is offering a new online tool to help dairy producers better manage feed costs during the current economic downturn.
The Penn State Income Over Feed Costs Tool, in spreadsheet format, is available online, free of charge, at http://dairyalliance.psu.edu/resources/income-over-feed-cost-tool.
The Web site also features a video series that shows the benefits of using the IOFC tool.
Dairy producers and nutritionists from across the U.S. recently participated in a free webinar series called “Managing Feed Costs on Your Dairy,” that demonstrated how using the Penn State Income Over Feed Costs can benefit their operations.
Video recordings of this series are now available online at the Income Over Feed Costs Web site listed above.
The series shows how producers can manage risk by using Income Over Feed Costs as a tool to implement feeding strategies that help control costs.
The series is designed for dairy producers, their managers, nutritionists and advisers.
Part one of the series, “Managing Risk During Difficult Times: Milk Futures, Feed Costs, and Nutritional Strategies,” features Ken Bailey, professor of Ag Economics at Penn State, who focuses on the current economic state of the dairy industry and offers predictions for 2009.
Presenters also include Virginia Ishler and Erica Cowan, program specialist, Penn State Dairy Alliance, who will discuss the benefits of using the Income Over Feed Costs tool.
Part two of the series, “Using Income Over Feed Costs as a Tool to Control Costs,” provides an in-depth overview on how to calculate income over feed costs.
Ishler and Gabriella Varga, professor of Animal Science at Penn State, will share their strategies for cutting feed costs while maintaining animal performance.
In addition, Penn State Extension educators Tim Beck and Keith Dickinson will share how some Pennsylvania producers are successfully managing Income Over Feed Costs and cash flow on their dairies in the current economy.
Penn State Dairy Alliance is providing free assistance to producers who would like help using the tool on their dairies.
For more information contact Penn State Dairy Alliance at 888-373-7232 or e-mail email@example.com.