With recent falls in milk, beef and cereals prices comes the increased importance of keeping a watchful eye on costs. The brief spell of a prosperous milk price, a healthy beef return and wheat price to be proud off did not seem to last long, and I suspect few have forgotten the importance of managing costs in that short time. In a busy day that never seems to end, the last thing on the mind is to trawl over the figures to see where a saving or efficiency can be made.
Bench marking is useful to allow comparison between enterprises and there are some useful tools available to assist in this exercise. The bonus is that they are often free, (already paid for in the levy) and are generated from a large pool of farm data. The following may assist in finding useful information and benchmarking tools.
Dairy - Dairy Co Milk Bench +
Beef and Sheep – Eblex Stocktake 2014 and KPI calculator
Arable HGCA – CropBench +
PBEX – Price facts and figures
Bench marking allows you to compare your own performance with the industry to help identify where possible improvements could be made.
If you’d like assistance in using any of these tools or would like a review of your business, costs and overheads then please call Edward Jenner on 01237 472725.
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