Farmers in the top 10% of a new dairy industry study cut feed costs by 45% in response to milk price cuts in 2016, and made only slightly lower margins per hectare than they did in 2015.The figures come from the LIC's Comparative Farm Profit (CFP) dataset, and were revealed at its annual conference in Birmingham.This prompted Pasture to Profit consultant for LIC UK, Piers Bad-nell, to ask: "What on earth were they spending all that money on? Everyone in the survey managed to reduce their variable costs, so why were those costs incurred in the first place?"
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