Welcome to the life of most self employed people. Not many are making a killing if looked at a per hour wage.
Farming is usually a cash poor, asset rich business. It just about always has been.
All businesses change over time. Many see their costs rise and the gross drop as the business their in matures. Farming is a very mature business so the margins are really low.
I think a big part of the dairy industry's falling prices has been partly caused by technology. Parlors and free stall barns have made it so the labor requirement per cow/hundred weight is falling. So the profit margin is falling with that.
I think the dairy industry is going to vertically integrate soon. You may own the cows and still get paid for the mile but you will be contracted to Walmart, Kroger, etc. to buy your milk. The end retailer will be buying your milk directly.
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Today's Featured Article - A Brief History of Tractors in Australia - by Bob Kavanagh. After Captain Cook's exploration of the east coast in 1770 the British Government decided to establish a penal colony in Australia. The first fleet arrived in 1788 and consisted mainly of convicts who were poorly equipped and new little of farming techniques. The colony remained far from self-supporting and it was not until the early 1800's that things started to improve. Free settlers started to arrive, they followed the explorers across the mountains and where land was suitable set up farms. T
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