The farm's total greenhouse gas emissions were 14,285 tonnes per hectare this year, compared with the farm's average of 15,392t/ha/year over the previous three seasons.
''On the environmental front we are making progress, but we have room to improve.''
But milk production was expected to finish up at around 250,000kg of milk solids, or 450kgMS per cow, which meant the farm's working expenses worked out at about $4.14 per kilogram of milk solids.
''Production is down which means our costs in terms of kilograms of milk solids produced are up and we hear that's happening on other farms, too,'' Mr Pellow said.
After three summers of dry conditions, this season has seen its challenges, with a wet and cold early spring, a dry period during November and early December and then consistent rain, including periods of high rainfall.
To manage the conditions farm manager Peter Hancox said the decision had been made to dry the lighter cows off early, meaning just 496 cows were still in milk at the end of April, compared to 530 last year.
-By David Hill