Milk Cost of Production Report 2023-24

Welcome to the Milk Cost of Production Report 2023-24. We have been busy collating, analysing and evaluating our rural client data to provide you with a comprehensive and insightful breakdown on the state of the dairy industry.

The purpose of this survey is to help you benchmark your own farming enterprise and, by planning ahead, make the most out of the opportunities available.

View and Download your copy here.

The survey is a comparison of farms with a March year-end who derive their income mainly, or solely, from milk sales. As well as a review of the previous financial year, we also use the data to look ahead at projections for the current trading year. Dairy farmers’ profits dropped more sharply than many expected in 2023/24, but rising milk prices mean the outlook is significantly brighter for the year ahead.

If you have any questions regarding the Milk Cost of Production Report, please contact Bradley Causey or Andrew Vickery. Or, find out more about our finance & accountancy services for farming businesses.