The data source is Michigan State University's Telfarm accounting system. Farms in the system were included if milk made up 70 percent or more of income, and if the records were complete. This is not a random sample. Income Table 1 shows the average management income for each group. This is a profit measure.
Income includes inventory changes.
For this sample of farms, size groups do not correlate well with net income. The acres are both owned and rented. The per cow columns in Table 2 pertain only to the milk producing side of the business. Management income for the whole farm in Table 1 was split between cows and crops in Table 2. It appears dairy farmers lose money on their cropping side.