Dairy grazing : dairy career paths
"Dairy producers face challenges as they enter, expand or exit the dairy industry. Those entering the dairy industry often find attracting financing difficult and may find that accumulating an acceptable level of equity to get started will take several years. Expanding dairy producers are often so highly leveraged they have little margin for error, making their businesses susceptible to failure due to production or price swings. Older dairy producers face the challenges of increasing age and the desire to accumulate cash for retirement rather than reinvest in their dairies. Without a plan for succession, a smaller farm may not generate enough revenue to pay attractive wages or attract experienced, productive farm employees. The net result of the challenges faced by dairy producers is a lack of reinvestment in an entire regional dairy industry. To guide future dairy producers through these challenges, University of Missouri faculty explored career paths that have succeeded in other regions, particularly in pasture-based dairy production. Opportunities do exist to enter the dairy industry, but these opportunities depend upon imagination, a willingness to work with others and a willingness to be proactive in creating a path for oneself. Figure 1 depicts a dairy career path from beginning as an employee to ending as a dairy owner or equity partner. Entry opportunities exist at several places along the path, depending on a person's experience and financial situation. As individuals progress along the career path, their skills, knowledge and financial situation improve, leading to the possibility of investing in and eventually owning a dairy."--First page.
Archive version. For the most recent information see extension.missouri.edu.
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