# Cow-calf profit per head in Vermont

> Vermont cow-calf operators averaged roughly $95 in net cash income per bred cow in 2025, but total economic profit remained negative near -$160/head once unpaid labor, land, and depreciation are charged against the enterprise.

**Headline:** $95 net per head (2025)

## Key Figures

| Metric | Value |
| --- | --- |
| Gross revenue per cow | $1,080 |
| Cash costs per cow | $985 |
| Non-cash costs (labor, land, capital) | $255 |
| Net cash income per cow | $95 |
| Total economic profit per cow | -$160 |

## Detail

Vermont cow-calf profitability in 2025 reflects the strongest calf market in a generation paired with the Northeast's structurally high cost base. USDA ERS Commodity Costs and Returns data show national cow-calf gross value of production averaging around $1,080 per bred cow in 2024-2025, and Vermont operators are capturing the upper end of that range thanks to tight feeder supplies and grass-fed demand from Boston and New York buyers.

Weaning rate is the hinge variable in any Vermont budget. UVM Extension's cow-calf enterprise budget assumes an 88-90% weaning percentage on managed herds, with a 550 lb steer calf marketed at roughly $3.15-$3.35/lb in 2025. That yields gross revenue near $1,080 per exposed cow once cull-cow receipts and replacement heifer credits are netted in, consistent with Vermont Beef Producers Association auction reports from Addison County and New Holland.

The state's cost structure is what keeps total economic profit negative. ERS pegs cash costs for Northeast cow-calf operations near $985 per cow, driven by 180+ days of stored forage, higher hay and pasture rental rates, and elevated fuel and labor. Add roughly $255 in non-cash charges for unpaid operator labor, land opportunity cost, and capital recovery, and the result is about $95 net cash income but a -$160 total economic loss per head, meaning most Vermont herds still rely on land appreciation and off-farm income to pencil out.

## Frequently Asked Questions

### Why is Vermont cow-calf profit lower than the US average?

Vermont's harsh winters drive 180+ days of stored-feed dependence, and hay plus pasture rental rates in the Champlain Valley run well above Plains-state benchmarks, compressing margins even when calf prices are strong.

### What weaning percentage do Vermont budgets assume?

UVM Extension cow-calf budgets assume an 88-90% weaning rate on well-managed Vermont herds, slightly below the national 85-87% average because of tighter veterinary oversight on smaller herds.

### Are Vermont feeder calf prices higher than national averages?

Yes. 2025 Vermont 500-550 lb feeder steers averaged roughly $3.15-$3.35/lb at New Holland and Addison County auctions, tracking a few cents above USDA national feeder indices due to grass-fed premiums.

## Sources

1. USDA ERS Commodity Costs and Returns: Cow-Calf 2024-2025 (2025) — https://www.ers.usda.gov/data-products/commodity-costs-and-returns/
2. UVM Extension Cow-Calf Enterprise Budget (2024) — https://www.uvm.edu/extension/agriculture/livestock
3. Vermont Beef Producers Association Market Reports (2025) — https://vermontbeefproducers.com/

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Source: Vellum — https://vellum.app/cow-calf-profit-per-head/vermont