This staff paper presents the 1995 financial and production results of a sample of Michigan dairy farms in two ways. First, the sample is divided into groups by size of herd; averages for each group of several costs and factors are shown. Second, the sample is divided by milk sold per cow; factors that vary with milk production are discussed. Appendix tables give all the cost data available from the accounting summary. A major conclusion from this data is that neither size nor production per cow consistently explains much about the major variability in profits that occur from farm to farm, given the analysis done. Average results on a few farms with over 300 cows may be of cursory interest. (Note: Figure 1 does not appear in the electronic file.)


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