Dairy farmers saw their profits recover in 2017/18 as milk prices returned to more sustainable levels according to a recent survey by accountants and financial planners Old Mill.  The survey revealed that their clients made a profit from milk of £86/cow in the year to March 2018, compared to a loss of £253/cow in 2016/17.  When taking non-milk income, such as calf and cow sales, into account – but not including rent, finance or the single payment – the average farm profit was £383/cow in 17/18 against just £19/cow the previous year.  However, next year is likely to bring a sharp increase in the cost of production due to the wet spring and dry summer in 2018.