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The latest Dairy Financial Management Averages are posted here each month.  These are rolling twelve-month averages, expressed in various ways.   Please feel free to use the information.
Download the latest Dairy Financial Management Averages

A graphical analysis of Historical Dairy Financial Management Averages between 1988 and 2014 has been posted for your information.
The milk price has increased by an average 7.46% per annum since 1988 (R2 = 98.3%).
The cost of production to NFI has increased by an average 6.7% per annum since 1988 (R2 = 97.4%).

We have posted a set of comparative graphs depicting the Average of the Top Third and Bottom Third of the group since 1988. These figures are expressed in rands per cow in herd monthly.

Annual average milk price and cost of production excluding financial costs, drawings and new capital items as at
February of each year of our clients (approx. 30 farms). Exponential regressions are the thin solid lines.

The graph below is the monthly diesel price since January 1995.  Over this period, the actual diesel price has increased by an average of 11.5% per annum (R2 = 96.6%).
The following graph depicts the consumer and producer whole milk price between Jan 2000 and Jul 2014. Note that the scale is the same but the two graphs are on different axes. The producer received 35.0% of the consumer's rand in 2011, 37.2% in 2012, whereas in 2013 he received 37.5%. To date, Jan to Jul 2014, the producer received 39.6% of the consumer's price.

Below is a graph of the annual average composite fertilizer prices. The actual composite fertilizer price has increased by an average 10.5% per annum since 1993 (R2 = 92.2%).
When one adjusts the price by the milk price and expresses each years fertilizer price in litres - how many litres does it cost to buy a ton of composite fertilizer? - then we find that the real fertilizer price has increased by 3.2% per annum (R2 = 57.9%).


Dairy meal makes up the biggest expense item of our group. The actual average price of dairy meal (Meadow's Budget Pride 14% being the measure of choice here) has increased by 8.1% per annum (R2 = 92.9%).
The real price of dairy meal, what it costs in terms of litres of milk, has increased by 1.28% per annum (R2 = 35.1%).
Over the period of this analysis, the price of dairy meal has varied from 634 (in 1997) to 916 (in 2003) litres of milk per ton. In 2013 it averaged 915.6 litres of milk per ton of dairy meal.

Below is a graph of the monthly composite fertilizer prices and the price of dairy meal (as reflected in the price of Budget Pride 14%).
Please note that the graphs are not of course on the same axis.

This page last updated 18 June 2015

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