In a bad year, Jerseys did better

	Non-Jerseys*	Jerseys
Income	(per hundredweight)
Milk	$16.71	$19.90
Co-op inventory loss allocation	$0	$0
Milk futures	$0.17	$0.19
Calves & heifers	$0.73	$0.41
Patronage dividend	$0.10	$0.10
Other	$0.11	$0.20
Total income	$17.82	$20.80
Expenses
Hay, silage & farming	$5.58	$5.10
Grain	$6.31	$7.48
Less cost of feeding heifers	color:#FF0033($2.38)	color:#FF0033($2.70)
Total feed cost	$9.51	$9.98
Herd replacement costs
Depreciation - cows	$1.04	$1.30
Loss on sale of cows	$0.05	$0.28
Total replacement cost	$1.09	$1.58
Other expenses
Interest and rent	$0.71	$0.56
Current debt repay & owner draw	$1.30	$1.86
Equipment lease	$0.02	$0.03
Labor	$1.73	$2.09
Depreciation - other	$0.66	$0.97
Milk hauling	$0.53	$0.34
Industry assessments	$0.27	$0.19
Supplies	$0.70	$1.01
Rbst	$0.12	$0.30
Manure mgmt. & environmental	$0.10	$0.29
Repairs & maintenance	$0.65	$0.72
Utilities	$0.33	$0.41
Taxes & licenses	$0.22	$0.26
Insurance	$0.21	$0.23
Fuel & oil	$0.23	$0.22
Professional services	$0.07	$0.08
Employee benefits	$0.07	$0.12
Veterinary & breeding	$0.43	$0.48
Testing & trimming	$0.09	$0.12
Livestock hauling	$0.02	$0.06
Miscellaneous	$0.02	$0.04
Less cost of raising heifers	color:#FF0033($0.42)	color:#FF0033($0.49)
Total other expenses	$8.01	$9.88
Total expenses	$18.61	$21.34
TOTAL NET INCOME (loss)	($0.79)	($0.54)
Net income (loss) per cow	color:#FF0033($183)	color:#FF0033($99)
Average number of milking cows	2,127	2,100
Average pounds of milk/cow/day	74	59
Average butterfat test	3.65%	4.56%
Average protein (or SNF) test	3.13%	3.66%
Herd turnover rate	39.4%	39.9%
Average cost of production	$18.61	$21.34
* Figures shown are simple averages of data summaries prepared for 7 individual Western states and 2 Midwest regions.
All data provided by Genske, Mulder & Co., LLP Certified Public Accountants.