Sponsored by Westway Feed Products LLC
Following record profitability in 2014, the U.S. dairy industry is now entering its 4th year of marginal to no profitability. Lenders appear to be tightening credit standards. Vendors appear to be tightening payment terms. Processors are reluctant to take on additional milk production. And futures markets themselves signal no real end in sight leading to higher milk prices and stronger profit margins. If you find yourself searching for answers and wondering what you can do to weather the storm in hopes of better times, you’re not alone. Come listen as we discuss principles and strategies for your dairy to survive in the short term while positioning to thrive in the long term.
Jay Joy is a proud member of the GPS Dairy Consulting team and the leader of Milk Money, LLC, a financial consulting and “CFO for Hire” service founded in 2012.
Prior to founding Milk Money, Jay spent several years as a commercial banker providing financing to large dairies, commercial cattle feeders, and grain companies located primarily in the High Plains region.
In addition to his banking and consulting experience, Jay has served as the General Manager for an 8,000 cow dairy and large farming operation in Western Kansas, and as the CFO for a 9,000 acre family-owned corn and alfalfa hay producer/broker in North Central Kansas.
Jay’s work with his client’s and their NextGen focuses on helping grow and develop their understanding of accounting, financial reporting, banking, and financial decision-making; with the ultimate goal of improving the profitability and cash flow of his client’s dairy farming and related businesses.