CRS Content Team
What is the Dairy Forecaster?
The Dairy Forecaster is a handy budgeting tool that helps you predict milk production (kg/MS) and related income for the financial year.
It presents all the months in a production season in an annual view, to make entering and maintaining milk production data in budgets easy and efficient.
The Dairy Forecaster only needs to be set-up once (normally when you are setting up Cashmanager RURAL for the first time) but also needs to be customised if your business type changes, i.e. if you change from sharemilking to being an owner/operator, or your share percent changes.
Once it is set-up, you can use the Dairy Forecaster - Budget Worksheet to manage your milk. The Dairy Forecaster worksheet can be customised to the dairy company you supply to, such as Fonterra, Synlait, or Westland. If you supply Fonterra, a column displaying the Capacity Adjustment is included in the Dairy Forecaster worksheet.
If you use Cashmanager RURAL online and supply to Fonterra, Synlait or Westland, you can automatically feed the current year's dairy prices into your budget and update them throughout the year.
Tip: The annual view in the Dairy Forecaster is aligned with the dairy company’s production year - this will be June to May. Dairy farmers will normally have a financial year that aligns with this but sometimes customers have a different balance date, i.e. July to June. If this is the case be aware that the Dairy Forecaster and Cashflow screen won’t be 100% aligned. The income that the Dairy Forecaster predicts will appear in Cashflow.
The Dairy Forecaster can be set up for different business types, such as:
Business Type Income Expenses Owner/Operator Receives all income (100%). Pays all expenses (100%). Share Milker Receives a percentage of income (i.e. 20% or 50%). Pays a variety of expenses as agreed in the contract. Contract Milker Receives a set dollar amount per milk solid (i.e. $1.30 per kg/MS). May pay for set items (i.e. Fertiliser, Wages, Shed costs, Vehicle costs).