The principal objective of this study is to determine the financial impacts of changing feed procurement strategies for a specified southeastern Minnesota dairy farm. Growing all feed for the dairy herd on the farm itself, currently the most prominent mode of procurement, is compared to: (1) producing all forage and purchasing all concentrate feeds from others, and (2) purchasing all feeds from others. The effect of herd size on the comparisons is considered to determine if size has a bearing on the chosen method of feed procurement.