Setting profit targets with Brendan Horan at Lydney Park Farms

With the increasing costs within agriculture, it is becoming more important to understand financial goals and set profit targets. Gloucestershire-based dairy farm, Lydney Park Farms, started to look into their financial goals as a part of our Strategic Dairy Farm (SDF) programme.

Over the next three years, Lydney Park Farms will share their knowledge and experience to help other farmers learn from each other.

The aim is to give farmers the confidence to explore new ideas and adopt change in their own businesses. 

Lydney Park Farms started working with Brendan Horan from Teagasc (the Irish Agriculture and Food Development Authority) in March 2024 to review their current farming practices and successfully set profit targets to align with the overall farm goals.

Brendan is principal research officer and project leader with responsibility for the development and implementation of grassland science multi-year farm systems research projects at Curtins Farm, Teagasc Moorepark, Fermoy, Co. Cork and Ballyhaise Agricultural College, Ballyhaise, Co. Cavan.

Working with Brendan was initially suggested by the farmers in their SDF steering group to help Lydney Park Farms find key areas to focus on to improve profitability.

The farm still questions what the right system for dairy is, so have been challenged to develop a robust set of key performance indicators and specific profit targets.

The farming system at Lydney Park Farms has been adapted several times to help them find the most profitable way of operating. Changing many years ago from a fully housed system to a low-input grazing system has suited the staff and the land and returned increased profits.

The system has been adapted continually having milked 1,000 cows once a day at its peak and today the 10-week spring-calving herd of 850 Jersey X cows are milked twice a day and averages 4,750 L per cow per year at 5.30% butterfat and 3.93% protein. 

By working with Brendan, the farm has identified ways to increase profit, improve animal welfare and be a great place to work while improving the environment and being socially responsible in the community.

Join us on 9 May 2024 to be a part of Lydney Park’s journey and learn from Brendan how to set your own in-detail profit targets and apply this to your farm business.