In any business, recordkeeping is an important practice for financial success. In agriculture, recordkeeping can help producers understand the production/input efficiency, breakeven values, cost structure and profitability drivers for their business. A major benefit can also be financial health analyses. University of Tennessee Extension has developed the Dairy Gauge benchmarking program to help dairy producers better understand what their financial statements and key ratios suggest about the financial health of their business. Within the program, there are three areas that were developed specifically for gauging a dairy business’ financial health. The three areas are 1) balance sheet and profitability dairy benchmarks, 2) dairy feed benchmarks, and 3) dairy non-feed income and expense benchmarks. This publication is focused on dairy feed benchmarks.