profit monitor

whelan1

just wondering how many people do thid? i am doing it at the minute, first time completing it

blue5000

ya did one last yr for the first time in yrs, well worth it. If you're with ifac for accountancy your teagasc advisor can get all the details from them and makes it v simple. Don't know exactly how long it takes, big advantage of this is if the taxman ever 'raids' teagasc at least he'll find the same lies stuff twice:D:D:D

Interesting to compare with other farmers of similiar size etc.

bob charles

might be better called the 'loss monitor' for most farms:(

blue5000

bob charles wrote: »

might be better called the 'loss monitor' for most farms:(

Good point, or at least it's a way to find out how much of the sfp is left to live on.

PMU

blue5000 wrote: »

Good point, or at least it's a way to find out how much of the sfp is left to live on.

it is part of the DEP sceme ,so there will be plenty of information for dairy farmers to compare this year. it should be compulsory for all farmers

whelan1

accountant filled in some of the figures for me, i am doing the rest now:o

5live

Oh crap. It was supposed to be in testerday:eek::eek::eek:

Now i'm wondering if my answer to Whelan1s question is yes or no:pac:

whelan1

i am being very good, did a god bit of the profit monitor this morning and just back from taking soil samples now- wrecked! our profit monitor was to be in yesterday also but he said monday at the very latest

dar31

got ours done last week.
bloody cost only know one direction.
all our costs went up by 15 - 40%, fert and fuel were a real kick in the teeth.

oooge1

just put mine in last week.. so it will be interesting to know where i stand..it was my first time to.. im not in the dep but i've taken over the farm the last year,and i want to get base to start from..i want to know the cost of producing a litre of milk, and see how efficient i am compared to others " the best".
i was at the positive dairy farmers conference last week and someone said "its always better to know the cost of production before a milk price downturn, rather than wait till you have to do the figures to survive"

mattthetrasher

not doing a profit monitor is like driving in the dark,and going through the accounts to get the info yourself doubles the benefit.it gives you a great handle on where the money is coming from and going to

sh1tstirrer

bob charles wrote: »

might be better called the 'loss monitor' for most farms:(

I was thinking something the same as yourself only mine would read "Profit/Loss monitor"

bob charles

Do most people not know their costs straight of the top of their heads? maybe I spent too much time filling the diet feeder as Im always running through the cost of things when I feeding up.

what is "DEP" mentioned above?

Do people not keep their profit/loss figures private?

5live

bob charles wrote: »

Do most people not know their costs straight of the top of their heads? maybe I spent too much time filling the diet feeder as Im always running through the cost of things when I feeding up.

what is "DEP" mentioned above?

Do people not keep their profit/loss figures private?

DEP is the dairy efficiency programme. You attend 9 farm walks and fill in the profit moniter and you get about 900 euro, once you jump through the hoops. There is a similar one being launched for beef this year i think.

And some of the figures in the PM are fairly dodgy. If some i saw before are to be believed, there are a lot of superb farmers doing 20c a litre profits on 27c a litre milk prices

blue5000

5live wrote: »

And some of the figures in the PM are fairly dodgy. If some i saw before are to be believed, there are a lot of superb farmers doing 20c a litre profits on 27c a litre milk prices

That's what I was referring to above about the taxman. I wonder why do you have to put your pps number on the profit monitor form?

stanflt

got results this morning:)

must start saving for the tax bill:eek:

whelan1

got mine by email yesterday, having a group meeting tomorrow morning to discuss them, did better than i thought, but will know where i stand when compared to the other guys tomorrow

bob charles

blue5000 wrote: »

That's what I was referring to above about the taxman. I wonder why do you have to put your pps number on the profit monitor form?

PPS number included:eek::eek: be very very careful, no way in the world, would I submit such information if a PPS is needed

whelan1

is so the bull ****ters can be sorted out:D

bob charles

If I ever complete one I will be just below how the bottom third of farmers are doing . I love getting the auld rebate of the taxman, handy out for buying beer tokens

stanflt

bob charles wrote: »

PPS number included:eek::eek: be very very careful, no way in the world, would I submit such information if a PPS is needed

pps no is optional

whelan1

just back from discussion group meeting, 9 out of 15 filled in the profit monitor:mad: even though every one was told it was compulsory... was happy enough one lad had a net profit per litre of only 3cent:eek: i am close enough to 10cpl plenty of room for improvement this year, another lad had a npl of just over 20cpl;)- he has no labour costs and runs a very tight ship... all in all very informative and am happy i did it

PMU

whelan1 wrote: »

just back from discussion group meeting, 9 out of 15 filled in the profit monitor:mad: even though every one was told it was compulsory... was happy enough one lad had a net profit per litre of only 3cent:eek: i am close enough to 10cpl plenty of room for improvement this year, another lad had a npl of just over 20cpl;)- he has no labour costs and runs a very tight ship... all in all very informative and am happy i did it

what was the average for liquid milk nationally? mine was 16c/lt for creamery(including REPS)

whelan1

there are 2 liquid milk people in our group and we where fairly similar- i am not in reps- they had the average figures for spring milk system. the lad with only 3cpl np, spends 11.4ppl on meal:eek:

rancher

PMU wrote: »

what was the average for liquid milk nationally? mine was 16c/lt for creamery(including REPS)

No wonder so many livestock farmers are converting to dairy... away with them, every acre producing milk won't be producing sheep

PMU

whelan1 wrote: »

there are 2 liquid milk people in our group and we where fairly similar- i am not in reps- they had the average figures for spring milk system. the lad with only 3cpl np, spends 11.4ppl on meal:eek:

11cpl on meal,he has a long way to go! we have our meeting this morning. I am going to get grief for having a meal cost of 4cpl!

whelan1

my meal costs where just over 5cpl. not bad as well have wet land and are liwuid milk, but there is always room for improvement

blue5000

I was just thinking if some bastard area manager/buyer for the5c0 is reading this they might decide we are paying farmers too much for milk, we can screw them a bit harder.

Perhaps we should be more careful about what figures we as farmers put out to the public?

whelan1

blue5000 wrote: »

I was just thinking if some bastard area manager/buyer for the5c0 is reading this they might decide we are paying farmers too much for milk, we can screw them a bit harder.

Perhaps we should be more careful about what figures we as farmers put out to the public?

but at the same time we need to compare what we are paying for what?

blue5000

Yeah I appreciate that, what I'm saying is anyone can read this forum, if one of the above mentioned bastards sees that farmers are making say 20 cent /L profit, they might start trying to lever the price down by 10 cent, they are doing it in UK.

Tipp Man

The best thing farmers can do for the next few years is keep their heads down and their traps shut

Because if Larry Goodman or Glanbia aren't going to take us for a ride (for a change) then the taxman will. Farmers will gain nothing from "bigging up" the agri industry

I also wonder what the hell fellas are doing with their money if they are even making half the money they are supposed to be

PMU

Tipp Man wrote: »

The best thing farmers can do for the next few years is keep their heads down and their traps shut

Because if Larry Goodman or Glanbia aren't going to take us for a ride (for a change) then the taxman will. Farmers will gain nothing from "bigging up" the agri industry

I also wonder what the hell fellas are doing with their money if they are even making half the money they are supposed to be

they are spending it!

PMU

from our meeting today; my costs-20cpl,profit 16cpl
best performer ; costs-11cpl profit-24.3cpl.
goes to show how much room there is for improvement!
most variable costs are around 10cpl,the difference in fixed costs is huge.

dar31

just for the sake of people that dont do profit monitors
these figures are before the farmer pays himself, pays capital expenditure, capital repayments, tax, and one or two more that i cant remember.

the profit figures people are quoting, are they common profit, net profit, are direct payments included, whole farm or dairy only. big difference between these profit figures.

pps no are optional as stated earlier, and teagase use these for clientr id mostly, you need your pps no to log on to the teagasc client site.

PMU

dar31 wrote: »

just for the sake of people that dont do profit monitors
these figures are before the farmer pays himself, pays capital expenditure, capital repayments, tax, and one or two more that i cant remember.

the profit figures people are quoting, are they common profit, net profit, are direct payments included, whole farm or dairy only. big difference between these profit figures.

pps no are optional as stated earlier, and teagase use these for clientr id mostly, you need your pps no to log on to the teagasc client site.

mine includes reps only, no sfp ,and its common profit(labour, land and quota leases, interest, not included) and its whole farm so replacement costs are included

Tippds

Hey all, Just wondering can anyone help me. Recently taking over the family farm, pm never done here before so i'm doing one for 2011 and am having only a small problem so far. Is there a quick way i can get my figures for opening number of livestock and monthly livestock numbers without going back and counting my way through the "blue book."

blue5000

If ifac do your accounts they'll have it

Timmaay

Register with agfood.ie

Tippds

Cheers, had been registering calves at agfood.ie but didn't realise i could view previous profiles there. Thanks for the help!!

Timmaay

I didn't read that question of yours properly, if you want monthly livestock reports, better again then agfood.ie is icbf.ie! It only costs €50per year, and gives you a wealth of information, one of the tables is a full monthly stock report, for each month, for the last good few years.