Dairy Challenge Workshop at Miner Institute

Mike Farmer, Senior Vice President, and Loan Officer Chuck Custeau, from the St Albans office, recently led a workshop with students at Miner Institute preparing for the Dairy Challenge. Eight students participated in the workshop which focused on a specific case study. The students were put in the position of a farm business advisor to a fictitious dairy farm. Following the review of the case study, the students gave a presentation to the "family" with recommendations that could make meaningful changes within the business.

The 2014 National Dairy Challenge will be held April 3rd - 5th in Fort Wayne, IN, hosted by Michigan State University, Ohio State University, and Purdue University. The 2014 Northeast Regional Dairy Challenge will be held on November 13th-15th in Doylestown, PA, hosted by Deleware Valley College.

2013 Northeast Dairy Challenge

The 2013 Northeast Dairy Challenge was held at the William H Miner Agricultural Research Institute in Chazy, NY from October 31st to November 2nd. The challenge, in its 11th year, had 119 students from 14 colleges and universities.



The Dairy Challenge is an educational program that helps prepare students for careers in the dairy industry. The students work in mixed-university teams and visited a dairy farm to assess all aspects of the farm. They then organized their observations and suggestions into 20 minute presentations which were given to a panel of judges.

Farm Credit is a 5 star platinum sponsor of this event which hosts 4 regional and 1 national contest each year. The program is fully funded through the generous support of companies and producer associations serving the dairy industry, as well as a growing number of alumni and individual dairy farm owners.

 Association loan officers; Jean Conklin, Chuck Custeau, and Suzanne Petig, as well as Rob Guay, Association Appraiser all assisted in various aspects of the challenge.

 Mike Farmer, Senior Vice President in the St. Albans office gave a presentation to the students on financial record keeping, benchmarking and goal setting.

2013 North American Intercollegiate Dairy Challenge

The North American Intercollegiate Dairy Challenge (NAIDC) held its 2013 national contest in Fort Wayne, IN this past April. NAIDC is a two day competition for students to represent their dairy science programs from North American universities. During the contest, students apply theory and learning to evaluate a working dairy farm. The students are then expected to develop recommendations for nutrition, reproduction, milking procedures, animal health, housing and financial management. These recommendations are presented to a panel of five judges for consideration.

The panel of judges includes dairy producers and industry experts in dairy finances, reproduction, nutrition, and animal health. Jean Conklin, Senior Loan Officer and Tax Specialist from the White River Jct. Office, became involved with the Dairy Challenge in 2003 when Don Rogers invited her to be on the judges’ panel for the first Northeast Regional contest. Jean, who works with her husband on their dairy farm in New Hampshire, thought that this opportunity sounded interesting and looked forward to working with the students and the other judges. She was elected in 2007 to the National Board of Directors and was re-elected in 2010.

The National Board is made up of 15 members. Jean represented both the Northeast and Farm Credit. She mentions that being on the board is very hands on and it is important for members to secure funding for the annual event. Farm Credit is the biggest contributor for the NAIDC and is a 16 star platinum sponsor as listed in the 2013 program.

Over the past few years it was noticed that the National Dairy Challenge was meeting its limit of 128 students and wanted to add something that was not competitive but educational. The Dairy Challenge Academy saw its first event this past April running in conjunction with the Dairy Challenge as a separate program. Jean says that the great thing about the Dairy Challenge Academy is that students participating do not have to be from a 4 year school which is one of the requirements for the NAIDC. Instead students from a 1 year or a 2 year school can also attend. The addition of the academy attracted 95 more students to the event. The academy places these students into larger teams that analyze the same farms as the Dairy Challenge while providing an educational aspect. Jean reports that the board has received positive feedback on the Dairy Challenge Academy and hopes that the academy continues to grow in numbers.

When asked what some of the opportunities are for students participating in the Dairy Challenge, Jean says that it is a great opportunity to visit different parts of the country. In 2010 the national contest was held in California. Students had the opportunity to visit other dairies before the contest began since most students had never visited a California dairy farm. The contest also allows students to meet other students, interact with the industry through tradeshows, and participate in seminars. The academy featured a career panel as well as a tech presentation in which Jean presented the 5 C’s of Credit to the students.

While Jean’s time on the national board is coming to an end, she plans to stay involved regionally. She would encourage those who are considering becoming a board member to get involved at the regional level. The Northeast contest will be taking place in the Plattsburgh/Chazy, NY area this fall. The mission of the NAIDC is to facilitate education, communication, and an exchange of ideas among students, agribusiness, dairy producers and universities that enhances the development of the dairy industry and its leaders. We can support the contest and the dairy industry by being at the regional contest this fall, volunteering and getting involved. For more information please visit http://www.dairychallenge.org/.

2013 Dairy Challenge training at Miner Institute

This years’ students participating in the two day Dairy Challenge workshop at Miner Institute include Cassie Bromley of Wallingford, VT; Andrew Whitney of Hardwick; Kaitlin Benoit of Montgomery; Melissa Woolpert from California, and Morgen Doane from New Haven. The purpose of the workshop is to expose students to farm financial management and uses a case study where the students act as a business consultant working for a Vermont family operating a dairy as an LLC. There are two generations on the dairy and the students evaluate the business and make suggestions to improve profitability. We explain the difference between cash and accrual accounting and ratio analysis to compare the case study to our Northeast Dairy Farm Summary.

This is the 8th year that SVP/Regional Manager Mike Farmer has facilitated the workshop at Miner Institute. This fall the Northeast Regional Dairy Challenge will be held in Chazy and Yankee Farm Credit will be a sponsor.

North American Intercollegiate Dairy Challenge

The North American Intercollegiate Dairy Challenge (NAIDC) holds four regional and one national contest each year. The 2012 national contest was held March 29-31 in Roanoke, VA (press release, photos). 128 students from 32 colleges participated in this annual event now in its 11th year. Jean Conklin, Senior Loan Officer and Tax Specialist from the White River Jct. office, attended as a National Board and Northeast Committee member.

NAIDC has helped prepare over 3,000 students for careers in the dairy industry. Farm Credit was a 5-star platinum sponsor of the 2012 national contest. The program is funded through the generous support of companies and producer associations serving the dairy industry, as well as a growing number of alumni and individual dairy farm owners.

Yankee's territory was well represented with students from UNH, UVM and Cornell. Cornell received a First Place Award.

Pictured above from Cornell University are:

Front: Daniel Durfee; Ariel Garland; Jordan Fisher.

Back: Coach Betsey Howland; Theodore Christoph; Coach Michael Van Amburgh.

(all names are listed left to right)

Pictured above from the University of Vermont are:

Front: Sarah Morrison; Abigail Scholten; Sheena Brown.

Back: Coach Wanda Emerich; Richard Brisson.

Pictured above from the University of New Hampshire are:

Front: Lindsay Peterson; Barbara Heins; Hannah Flint.

Back: Hannah Medico; Coach Peter Erickson.

UVM also participated in Aggregate Team #1:

Front: Margaret Quaassdorff, University of Vermont; Alison R. Crane, Berry College; Kenneth Sharp, Berry College.

Back: Coach Wanda Emerich, University of Vermont; Coach Lee Kilmer, Iowa State University; Ben Selman, Iowa State University; Coach Ben Wilson, Berry College.

10th Anniversary Dairy Challenge

An innovative dairy educational program celebrated its 10th anniversary March 31-April 2 in Hickory, NC with 127 students from 30 colleges participating. Over 10 years, North American Intercollegiate Dairy Challenge (NAIDC) has helped prepare over 3,000 students for careers in the dairy industry. Farm Credit is a 5 star platinum sponsor of this event which hosts 4 regional and 1 national contest each year. The program is fully funded through the generous support of companies and producer associations serving the dairy industry, as well as a growing number of alumni and individual dairy farm owners.

Yankee's territory was well represented with 13 students on 4 teams representing UNH, UVM and Cornell as well as a member on an aggregate team formed to fill the 32 available team slots. Cornell received a Platinum Award and was represented by Jason McNamara(NH), Corey Kayhart(VT) Matthew Bull(NY) and Samuel Fessenden(NY). Both UNH and UVM received Gold Awards and were represented by Trevor Beaudry, Bridget O'Donnell, Nicol Antaya, and Nicole Guindon from UNH and Rayan Carabeau, Dallas Barabeau, Ashley Beaudoin, Nicholas Manning and Cassie Osgood from UVM.

Pictured above from Vermont are: Cassie Osgood, Wanda Emerich, Coach, Ashley Beaudon, Nicholas Manning, Ryan Carabeau

Pictured at left from Cornell are: Matthew Bull, Michael Van Amburgh, Corey Kayhart, Samuel Fessenden, Jason McNamara

Pictured at left are:

Bridget O’Donnell, Nicole Guindon, Nicole Antaya, Trevor Beaudry, Peter Erickson, Coach

Dairy Challenge Training

On March 2nd Mike Farmer concluded a two day training session for the Northeast Dairy Challenge at Miner Institute. Yankee has sponsored and provided training for the Dairy Challenge program for 6 years. This years students include Cassie Osgood, Ashley Beaudoin, Dallas Carabeau, Ryan Carabeau, Nicholas Manning, John Franklin, and Cameron Clark. All 7 students are enrolled in the FARMS 2+2 Program at VTC and UVM and spend one semester at Miner Institute.


This year North American Intercollegiate Dairy Challenge will be held March 31 to April 2 and hosted by North Carolina State University & Virginia Tech. It will be held in Hickory, NC. Please check out the website at http://www.dairychallenge.org/ for the history and purpose of the Dairy Challenge.

2010 Dairy Challenge

The 9th annual North American Intercollegiate Dairy Challenge was held in Visalia, CA, April 8-10, 2010. The event was hosted by Cal Poly and California State University Fresno. NAIDC 2010 attracted teams from 30 universities throughout the United States and Canada. Each team of four was challenged to put their textbook and practical knowledge to the ultimate test-analyzing dairies. The contest started with a walkthough at one of the four host dairies, followed by the opportunity to ask questions of the owners and analyze farm-specific data. Teams then used this information and their observations to develop management recommendations and present them to the herd owners and a panel of five dairy industry judges.

The program is fully funded through the generous support of companies and producer associations serving the dairy industry, including Farm Credit and many local associations. Jean Conklin, Loan Officer and Tax Specialist from the White River office, serves on the NAIDC Board of Directors representing Farm Credit, a major sponsor of the event. Teams from UVM and UMaine participated. The national and four regional contests provide this educational opportunity to over 300 students each year.

See website http://www.dairychallenge.org/ for results.

Northeast Dairy Challenge

Marie Guay, Senior Loan Officer from Chazy, and Mike Farmer, Vice President from St. Albans, worked with 8 UVM students who are spending a semester at Miner Institute including the 2+2 Dairy students to prepare them for the Northeast Dairy Challenge. Students included Michael Fitzgerald, Leanna Scholten, Claire Stanley, Henry Pearl, Virginia Purrier, Megan Foy, Brittany Sweeney and Spencer Bates. Marie and Mike met with them on February 16th and March 3rd.

The students worked on a case study involving a dairy operation owned by two generations of a fictional family. Their assignment was to evaluate 3 years of balance sheet, profit & loss statement, and farm production data to give the family a better understanding of their own business. They presented a SWOT analysis pointing out the strengths, weakness, opportunities and threats to the family business, and a suggested course of action. The family has several issues that must be dealt with. The students worked in two teams and presented a PowerPoint summarizing the SWOT analysis and the goals.

The financial tools used required the students to convert a cash profit & loss statement to accrual, and to analyze the business using a gross and net margin concept where they split expenses into variable and fixed costs.

This is the fifth year that Mike and Marie have done this to teach students dairy farm management related to evaluating farm profitability and asset utilization. See this older post for last year's program.

NE Regional Dairy Challenge

Yankee was well represented recently at the Northeast Regional Dairy Challenge. Loan Officer and Farm Tax Specialist Jean Conklin from our White River Junction branch reports the following:

I served as a judge at the Northeast Regional Dairy Challenge held November 5-7 in Glens Falls, NY. Hosted by SUNY Cobleskill, the Dairy Challenge provided the opportunity for about 120 students from 13 colleges, including 2 in Canada, to visit and evaluate one of 3 host farms in Saratoga County. In teams of 5 they made a presentation to a panel of 5 judges who represented all aspects of the dairy industry. I served as lead judge on a judges team which included Kurt Ruppell from Cargill, Dr. Tim Synder from Renaissance Nutrition, Bob Seglowski, DVM, a vet from southwest Vermont and Glenn Taylor a dairy producer from Cassville, NY. Dr. Charlie Sniffen, a Yankee director, also served as a volunteer judge on another team. The Dairy Challenge is sponsored by the dairy industry. The Farm Credit System, including Yankee Farm Credit, is a big supporter. NH and Vermont were well represented with students from UVM, UNH and VTC attending.

The Northeast Regional Dairy Challenge allows students to prepare for the National Dairy Challenge which will be held in Visalia, California in April 2010. This link is to a local newspaper article which provided coverage of the event. For more information please visit dairychallenge.org.

Jean Conklin also serves on the NAIDC Board of Directors.

North American Intercollegiate Dairy Challenge

The 8th Annual North American Intercollegiate Dairy Challenge was held March 27-28 in the Syracuse, NY area. (press release) Over 120 students from 31 colleges and universities in the U.S. and Canada competed. Teams from the University of Minnesota, Ohio State University, Purdue University and the University of Wisconsin-Madison won top honors. A team from the University of Vermont, coached by Wanda Emerich, won a gold award.

Jean Conklin, Loan Officer and Farm Tax Specialist from Yankee's White River Jct. office, serves on the NAIDC Board of Directors. Yankee Director Dr. Charlie Sniffen served as a judge for the event. Farm Credit is a major sponsor for the event, with support from the Northeast AgEnhancement Program and the Farm Credit System Foundation, as well as many individual Farm Credit institutions including Yankee.

Next year's national competition will be held next April in Visalia, CA. Four regional contests will be held before then. The next northeast competition will be Nov. 5-7, 2009 in Glens Falls, NY.

Northeast Dairy Challenge

On January 22nd and 29th, Mike Farmer and Marie Guay spent a total of 8 hours working with Advanced Dairy Management students at Miner Institute in Chazy, NY. Mike is a vice president in Yankee's St. Albans office and Marie is a senior loan officer in the Chazy office.

This program is part of the training for the Northeast Dairy Challenge. The program reviews a farm business consultant's role in working with a farm family dealing with estate planning, management issues and long term planning. Mike and Marie used material developed just for this class that evaluates 3 years of financial information, some production information, and family background. Issues discussed included retirement planning, budgeting, break even analysis and gross margin analysis. Good farm records are stressed.

This is the fourth year that Mike and Marie have participated in this program. See this older post for last year's program.

North American Intercollegiate Dairy Challenge

The 7th Annual North American Intercollegiate Dairy Challenge will be held on April 4-5, 2008 in Madison, Wisconsin and is being hosted by the University of Wisconsin, Madison. Farm Credit is a major supporter of this event nationally and regionally. Local ACA's, like Yankee, donate toward regional contests; the Northeast Ag Enhancement Fund helps support the regional contest in the NE; and the Farm Credit System Foundation has awarded NAIDC a $20,000 grant for support of the national and 4 regional contests this year! Farm Credit staff provides support through trainings for students in prepartion for the contests as well as at the actual contests filling various roles such as judges, organization, farm coordination, etc.

UPDATE: I forgot to mention that Jean Conklin from our White River Junction office is on the NAIDC Board of Directors!

Northeast Dairy Challenge

Mike Farmer and Marie Guay assisted with training in dairy farm profitability at Miner Institute in Chazy, NY on February 6th. This training is part of the Advanced Dairy Management class coordinated by Wanda Emerich as part of the UVM/VTC FARMS 2 + 2 Program.

Mike and Marie helped the students in this class prepare for the next Northeast Regional Intercollegiate Dairy Challenge, which will be held October 30 - November 1, 2008 at Penn State. They presented a dairy farm case study which had been prepared by Don Rogers. Mike and Marie spent four hours on the 6th going over the case study and talking about how to evaluate farm finances. They will return on the 20th and spend another four hours listening to and evaluating the students' presentations of solutions for the case study.

This is the third year that Mike and Marie have done this, and they say the eight students in this year's class are a great group to work with. We wish them luck in the competition next November!