The objective of this study was to identify factors that contribute to returns to operators’ labor and management of dairy farms in the U.S. Particular attention is given to the role of education and extension. Operators’ labor and management income (OLMI) is used as a measure of financial success. Regression analysis shows farm size, farm organization, level of education, and participation in extension activities and use of extension agents are important factors influencing OLMI. Further, forward contracting of inputs and other measures for controlling variable costs are also important factors in determining the financial success of dairy farms.
- Dairy farms
- Returns to labor and management
ASJC Scopus subject areas
- Agricultural and Biological Sciences (miscellaneous)
- Economics, Econometrics and Finance (miscellaneous)