Farm production and business performance data were collected from 30 dairy farms in Peninsular Malaysia. The farms were split into three groups to assess the impacts of farm management on cow milk yields. The better farmers who produced more milk per cow also fed their dry cows and yearlings better. Suboptimal stock performance, expressed as reduced growth rates in calves and yearlings, poor reproductive performance and low milk yields in adult cows, arose due to shortages in feed supplies, hence their feed nutrients, as provided by farmers. Furthermore, appetites would have been restricted through low rates of feed digestion and poor cow comfort. The economic data generated in the study was used to calculate the potential savings from various Key Performance Indicators of improved herd management. For example, reducing the age of heifers at first calving by 6 months can reap a profit of Malaysian Ringgits (RM) 1400 per heifer while reducing calving interval by 3 months can return an extra RM 1150 per milking cow. Increasing the lactation length by 2 months can reap RM 760 per milking cow while milk rearing calves on calf milk replacer rather than fresh milk can generate an extra RM 275 profit per calf. Clearly, the additional income generated from such examples of improved feeding management, justify their investments in increasing quantities of forages, better quality of supplements and/or more cost-effective feeds.