REVENUE, COSTS OF PRODUCTION AND RETURNS									1
FOR THREE DIFFERENT SIZED DAIRY HERDS
COWS AND REPLACEMENTS
				Herd Size
	Milking Cows			100		600		2400
	Milking + Dry Cows			122		732		2928
	TOTAL OPERATION
Receipts				$305,939		$1,835,636		$7,342,546
(Includes milk, heifers sold, bull calves, cull cows)
Variable Costs
	Feed			169,702		1,018,212		4,072,848
	Other			89,444		646,467		2,380,906
	Total			259,146		1,664,679		6,453,754
Fixed Costs				135,213		378,286		1,323,926
Total Costs				394,360		2,042,965		7,777,680
Return Above Variable Costs				46,793		170,958		888,791
Return Above Total Costs				-88,420		-207,328		-435,134
	PER COW
Receipts / Cow				2,508		2,508		2,508
Variable Costs / Cow				2,124		2,274		2,204
Fixed Costs / Cow				1,108		517		452
Total Costs / Cow				3,232		2,791		2,656
Return Above Variable Costs / Cow				384		234		304
Return Above Total Costs / Cow				-725		-283		-149
Variable Costs / cwt Milk				10.12		10.83		10.50
Fixed Costs / cwt Milk				5.28		2.46		2.15
Total Costs / cwt Milk				15.39		13.29		12.65
*Details and explanations on following pages
Assumptions:
1)	Receipts per cow are the same for all three sizes of operation.
2)	Variable costs per cow, excluding labor, are the same for all three sizes of operations.
3)	Buildings, facilities, and equipment are all newly purchased.