Monitoring Cash Flow in 2022
Patrick Gowing, Teagasc Dairy Specialist at Moorepark, discusses the importance of cash flow management. Patrick explains how to complete the Teagasc 5 minute cash flow worksheet in a video here. The 5 minute cash flow is easy to use and will give you a snap shot of how your finances are looking
Cashlfow management is important every year. However it is more important in 2022 as we have seen large increases in all input costs especially feed and fertilizer. While milk price is very good at present it is still important to take stock of where you are from a cash perspective and forward project for the rest of the year to see what your cash position will be in light of all the changes in input costs and increased milk price.
The first step is to establish where your cash position is today.
To do this Teagasc have compiled a 5 minute cash flow worksheet which allows you take a snap shot of the cash position on your farm.
Patrick Gowing from the Dairy KT team runs through how to use the worksheet in this short video.
View presentation below
The 5 minute cash flow (PDF)
Download The 5 Minute Cash Flow Planner at Cash Flow & Financial Management on Dairy Farms
The Teagasc Dairy Specialists issue an article on a topic of interest to dairy farmers every Monday here on Teagasc Daily. Find out more about Cash Flow on Farms here.
If you have any questions about cash flow you can also talk to your Teagasc advisor.