Crop Budget Estimator Tool for Forages (Simple)

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November 5, 2019 Author:

This simple version of the Microsoft Excel based tool is also built around key areas that producers need to consider as they plan for and continually evaluate their growing season. It combines in one place:

  • Marketing Goals
  • Yield Goals
  • Break-Evens of:
    • Net Farm Income
    • Cash Flow
    • Net Worth

The tool also aids in many management decisions, which are broken into four key areas:

  • Net Returns
  • Financial Scorecard
  • Break-Evens
  • Fertility Needs (based on yield goals).

For those looking for an expanded analysis, producers can also use the "Detailed" version of the Crop Budget Estimator Tool now available for Forages.  In this more in-depth tool, users can use information from their own farm records to build a budget that is used for Marketing decisions, comparing Chemistry and Fertilizer programs recommended by crop nutritionists and advisors, evaluate Capital Purchases (i.e. a new tractor or forage equipment), and other important management decisions for their farm.

It also includes an Optimization Tool that uses the budgets created to determine what the optimal combination of acres results in the highest profitability for the farm.

  • Producers define:
    • Maximum total operating costs
    • Minimum acres of corn silage, alfalfa hay, and alfalfa hay seeding to be planted (for maintaining rotational needs)
    • Total number of acres to be planted

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Tags: cass county, farm management, field crops, firm budgets & cost of production cost of production tools, forages


Related Topic Areas

Forages, Farm Management


Authors

Jonathan LaPorte

Jonathan LaPorte
269-445-4438
laportej@msu.edu


For more information visit:

MSU Extension

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