DairyBase budgeting feature launched

Dairy Australia has released new farm business tools, adding to the suite of measures already available through its farm performance analysis platform DairyBase.

DairyBase Budgeting will assist farmers with forward planning by enabling forward estimates of farm business performance.

Dairy Australia Managing Director, David Nation, said providing farmers with tools to assist with business planning, farm performance and risk management was a key commitment of the recently launched Australian Dairy Plan.

“We thank the Department of Agriculture for supporting the development of a budgeting feature for our DairyBase tool. Since its launch in 2015, DairyBase has gained 2,500 users and generated over 12,000 data sets, providing Australian dairy farmers with a unique opportunity to analyse and benchmark their farm performance by region and farm type.”

Minister for Agriculture, Drought and Emergency Management, David Littleproud, said the new DairyBase Budgeting feature would support farmers in identifying more opportunities to drive profit and manage risk.

“This is another advance in digital tools to assist dairy farmers in their forward business planning.

“Now, with the new budgeting feature farmers will be able to adjust financial parameters, such as milk income, the cost of fodder and water, and the number of livestock – and receive useful estimates of what their operating cash surplus will be at the end of a year.

“DairyBase users will be able to leverage their historical data and estimate business performance for the current season, which will assist with forward planning and risk management.

“I encourage dairy farmers who are yet to use DairyBase to head to the Dairy Australia website, register, and start exploring the benefits of the tool,” said Minister Littleproud.

For more information visit DairyBase.