Our Thanks To: The professionals who worked with farms and completed the analyses included in this summary:
|
|
- June Tate
- 6 years ago
- Views:
Transcription
1
2 Our Thanks To: The professionals who worked with farms and completed the analyses included in this summary: Christina Benton, Program Assistant, Ohio State University Extension Haley Drake, Program Coordinator, Ohio State University Extension Don Garrett, Ag Data Solutions Dianne Shoemaker, Field Specialist, Ohio State University Extension Tom Weygandt, Tweyg Consulting, Ltd. The Center for Farm Financial Management at the University of Minnesota for selected text. Historic weather data and graphics provided by: Aaron B. Wilson, Byrd Polar & Climate Research Center, State Climate Office of Ohio, The Ohio State University Jim Noel, NOAA/NWS/Ohio River Forecast Center This project was supported by the Competitive Benchmarking: Assisting NY and Ohio Livestock Producers to Increase Profitability and Manage Risk in a Volatile Environment (GRT ) grant from the USDA National Institute of Food and Agriculture. The tables in this report were created using FINPACK and RankEm, copyrighted software of the Center for Farm Financial Management, University of Minnesota. Dianne Shoemaker, Field Specialist, Dairy Production Economics Ohio State University Extension. shoemaker.3@osu.edu For information about participating in the Ohio Farm Business Analysis program analyzing your farm s performance, visit our web site at: This data is the property of The Ohio State University and should not be reproduced without permission. The Ohio State University, 2017 Ohio State University Extension embraces human diversity and is committed to ensuring that all research and related educational programs are available to clientele on a nondiscriminatory basis without regard to age, ancestry, color, disability, gender identity or expression, genetic information, HIV/AIDS status, military status, national origin, race, religion, sex, sexual orientation, or veteran status. This statement is in accordance with United States Civil Rights Laws and the USDA. Roger Rennekamp, Associate Dean and Director, Ohio State University Extension For Deaf and Hard of Hearing, please contact Ohio State University Extension using your preferred communication ( , relay services, or video relay services). Phone between 8 a.m. and 5 p.m. EST Monday through Friday. Inform the operator to dial Page 1
3 2016 Ohio Farm Business Summary Dairy Enterprise Analysis Table of Contents Pages Overview Dairy Summary Introduction Weather Summary..7-8 Crop Yields and Prices 9 Participating Farms Map.9 Dairy Enterprise Analysis Reports Explanation Dairy Enterprise Analysis Average of all Farms and High 20% Sorted by Net Return Per Cow Benchmark Report, Per Cow...13 Average of all Farms and High 20% Sorted by Net Return Per Cwt. of Milk.14 Benchmark Report, Per Cwt..15 Farms Sorted by Profitability Group based on Net Return, Per Cow...16 Farms Sorted by Profitability Group based on Net Return, Per Cwt Farms Sorted by Enterprise Size, Per Cow 18 Farms Sorted by Enterprise Size, Per Cwt..19 Benchmark Report, Herds with up to 200 Cows, Per Cow.20 Benchmark Report, Herds with up to 200 Cows, Per Cwt..21 Benchmark Report, Herds with over 200 Cows, Per Cow.22 Benchmark Report, Herds with over 200 Cows, Per Cwt..23 Appendix Page 2
4 2016 Ohio Dairy Enterprise Analysis Summary This document contains summary information for 34 Ohio dairy farms with 34 dairy enterprises that participated in the 2016 Ohio Farm Business Analysis and Benchmarking Program. These farms provided detailed financial and production information in order to complete a whole farm financial analysis and enterprise analysis for their dairy and crop enterprises. Data for more than 10,500 cows are included in this year s summary. Herd size ranged from 32 to more than 1,200 cows with six herds milking more than 500 cows. Thirty-one of the dairy enterprises were managed conventionally, and three were managed organically. Three of the conventional dairy enterprises utilized robotic milking systems was a very challenging year for many Ohio dairy farmers. Following on the heels of 2015 s low milk prices, 2016 s even lower prices forced an even more stringent review of income, expenses and capital purchases. Milk Prices Most Ohio dairy farmers market their milk in Federal Order 33. The Class III milk price averaged $14.90 per hundredweight (cwt.) for the year (Table 1.), 90 cents lower than 2015, and $7.44 per cwt. lower than The Producer Price Differential (PPD) averaged $0.17 per cwt. for the year, down from $0.44 per cwt. the year before. Table 1: 2016 Monthly and annual average per cwt. milk prices for Federal Order Jan Feb Mar Apr May June July Aug Sept Oct Nov Dec Avg Class III PPD SUP MPP month avg less 7.3% sequestration deduction Class 3.5% BF = Class III Producer Price Differential = PPD Statistical Uniform Price = SUP Margin Protection Program = MPP Milk Income Loss Contract = MILC Page 3
5 The PPD represents the difference in the price received for milk bottled and sold as fluid milk (Class I milk) and the value of Class III milk. These dollars are shared among all Grade A dairy farmers marketing milk in Federal Order 33. The Class III price plus the PPD are added together, resulting in an average Statistical Uniform Price (SUP) of $15.03 per cwt. in The 2016 SUP was $1.20 per cwt. lower than 2015, a 7.4% decrease from 2015 s average of $16.23 per cwt. The Statistical Uniform price represents the base price every dairy farm selling Grade A conventional milk in Federal Order 33 would receive, plus or minus component, somatic cell, and/or any quality or quantity adjustments. The average milk price received by all herds in 2016 was $17.23 per cwt. The 31 conventionally managed herds averaged $17.03 per cwt., ranging from $15.27 to $22.44 per hundredweight. The three organically managed herds received an average milk price of $37.00 per hundredweight. More information about the Federal Milk Marketing Order 33 and milk prices can be found at Another Year of Low Returns 2016 net return per cow was below $100 for the second year in a row, averaging $94.72 per cow for all herds. This average net return is the second lowest in 6 years of Ohio summary data. Summary data for 2012 through 2016 can be seen in Table 2. With an average milk price of $37 per cwt, the 3 organically managed herds do influence the average net return per cow. With an average milk price nearly $20 per cwt lower, the net return per cow for the 31 conventionally managed herds was $ Several factors contributed to a higher average net return in 2016 than The 2016 summary includes one additional organically managed herd, and a few less conventionally managed herds. Farms choose to participate in the analysis program, so there are some new herds and some herds that exit the program and sometimes the industry each year. Another factor impacting total costs and net returns is a change made in the cost of raised feeds charged to the dairy enterprise in Change in Feed Cost Calculations Beginning with this 2016 summary, feed cost calculations for a home-raised feeds fed to the dairy herd are valued at total direct and indirect costs of production. In 2015 and previous summaries, this cost of raised feed also included a non-cash charge representing the value of labor and management for these crops. Excluding this charge will make it easier for participating dairy farmers to evaluate their cash costs of producing milk. Page 4
6 Table 2: Comparison of total cost of production per cwt. and net return per cow, Average of all herds: Total cost $18.76 $19.21 $20.42 $18.21 $16.85 per cwt 1 Net return per cow 2 $231 $544 $1,266 $36.42 $95 Average of High 20% 3 : Total cost $15.38 $16.04 $18.14 $15.28 $14.91 per cwt 1 Net return $1,145 $1,501 $1,976 $905 $949 per cow 2 1 Total cost per cwt. including revenue adjustments (income from cull cows, bull calf and other animal sales) before labor and management charge. 2 Before a labor and management charge. 3 Farms sorted by net return per cow 4 Home raised feed cost includes direct and indirect costs of production, but not a value of labor and management charge. We typically see a large range in net return per cow among the farms in the analysis with this year s reaching nearly $3,192 per cow (Table 3), ranging from a loss of $792 per cow to a positive net return of $2,400 per cow. If we consider only the 31 conventionally managed herds, the average net return drops to $34.26 per cow. More than half of the conventional herds (17 of 31) experienced a negative net return per cow, with 3 additional herds generating less than $100 per cow. Those conventional herds that generated positive net returns averaged $489 per cow. The conventional herds that experienced a net return of less than zero experienced an average loss of $325 per cow. Net returns represent the return to the owner s unpaid labor and management as well as the capital invested in the dairy enterprise. The only non-cash charge in the dairy enterprise s expenses is a share of the annual depreciation charge for machinery and equipment (7%) and buildings and improvements (5%). This charge represents the annual loss in value of these assets due to use, normal wear and tear, and age. Farms with negative net returns may not be able to make all scheduled principal payments and generate sufficient dollars to cover all operating expenses and family living needs. Page 5
7 Table 3: Average of all farms, range, and average of the high 20% for selected factors for 34 Ohio dairy enterprises, 2016 Average of 34 Farms Range Average of High 20% Number of , cows Milk sold 24,780 12,234 26,519 per cow 30,698 Feed cost per $10.02 $7.56 $10.26 cwt of milk 2 $19.36 Total cost $18.71 $13.63 $16.92 per cwt 3 $26.99 Net return $95 ($ 792) $949 per cow 4 $2,400 1 Farms sorted by net return per cow, 7 farms. 2 Includes feed costs for mature cows and raised replacements excluding custom raised heifers if feed is included in the custom raising charge. All raised feed is valued at total cost of production not including a labor and management charge. 3 Total cost per cwt. including revenue adjustments (income from cull cows, bull calf and other animal sales) before a labor and management charge. 4 Before a labor and management charge. Herd Size All herds averaged 323 cows, with herd size ranging from 32 to more than 1,200 cows. While the average numbers for all herds together are interesting, they have limited value when comparing performance of an individual herd with this broad range in herd sizes. To provide meaningful information for herds of different sizes, enterprise summaries per cow and per cwt. are included in this summary for herds with 50 to 100 cows, 100 to 200 cows, 200 to 500 cows, and herds with more than 500 cows. Benchmark reports were also generated for herds with 30 to 200 cows and more than 200 cows. Page 6
8 2016 The Year in Review Weather Jim Noel, NOAA/NWS/Ohio River Forecast Center Across Ohio, 2016 brought warm and humid weather. Actually, it was one of the most humid years on record, and we set some of the warmest overnight minimum temperatures during the main growing season. During 2016, rainfall was considered near normal overall. In comparison to 2015, which was one of the wettest years on record, 2016 was relatively normal. In regards to temperature, 2016 was a much warmer year than was the 23 rd warmest year on record while during 2016, we moved up to the 3 rd warmest year on record. Breaking it into seasons, winter of 2016 for Ohio was near normal for temperatures and slightly wetter than normal for precipitation. Moving into the spring planting season, Ohio saw temperatures above normal with near normal rainfall. Ohio temperatures ranked 13 th warmest out of 122 years. During the summer growing season, the most notable temperature patterns were the overnight minimum temperatures. The average daily temperature was the 2 nd warmest on record and maximum temperatures were the 17 th warmest on record for over 122 years. Over that same 122 year stretch, 2016 s summer minimum temperatures reached the warmest on record for Ohio. Rainfall was considered normal in the summer of 2016, as well as the fall. Fall harvest season was the 2 nd warmest on record, and during this time, northwest Ohio set a new record for warm temperatures. Rainfall was slightly below normal in southern areas and slightly above in the north and northeast sections, averaging out to near normal. In summary, there were ups and downs throughout 2016 but the main theme, thanks to a very strong El Nino, was Ohio s record-breaking temperatures. Overall, it was the 3 rd warmest year on record with most of the year being very warm. This was driven by high humidity and record high minimum temperatures. Source: National Climactic Data Center Page 7
9 Each year, no matter the statewide weather conditions, at least one of the farms participating in the analysis experiences local weather conditions that cause a steep decline in crop yields. This may cause farms that are otherwise profitable to experience a year of declines in working capital resulting from a decline in raised feed and crop inventories as well as low profitability resulting from higher feed costs. Lower crop yields increase the crops cost of production as total costs are divided by lower yields. This situation is then compounded by the need to purchase additional feed to compensate for lower raised feed production Ohio Regional Temperature Rankings Source: Byrd Polar and Climate Research Center/ Polar Meteorology Group Page 8
10 Crop Yields and Prices Table 4: Ohio Crop Yields and Marketing Year Prices as reported by the USDA National Agricultural Statistics Service in the Ohio Annual Bulletin (September 2017) Corn Yield bu/acre Corn Price $/bu Marketing year average price ulletin% pdf Participating Farms Soybean Yield bu/acre Soybean Price $/bu 1 Wheat Yield bu/acre Wheat Price $/bu 1 Alfalfa Hay tons/ac In 2016, participating dairy farms were located in 12 counties. The majority of farms were located in the northeast part of the state. Figure 2: Locations of the 34 Ohio dairy farm businesses participating in 2016 Alfalfa Hay $/ton Page 9
11 Dairy Enterprise Analysis Reports The Dairy Enterprise Analysis reports show the average physical production, gross margin over purchase costs, direct costs, overhead costs, and net returns on a per cow or per hundredweight (cwt) basis. Information is presented for the average of all farms and the High 20% sorted by net return per cow. Gross Margin is the accrual gross value added by the enterprise. It includes income from sale of offspring and livestock products, cull income, non-cash transfers to other enterprises, and the value of production used in the home or for feed. It also includes the value of the livestock inventory change from the beginning to the end of the year. Inventory changes are calculated using the cost-basis balance sheet, and each farm s per-head values for their breeding livestock inventories are held constant from the beginning through the end of the year. The cost of livestock purchased and the value of any animals transferred in are deducted from gross returns. Net Return is the amount contributed by a unit of the enterprise toward operator labor, management, and equity capital. Any wages and benefits paid to the operator are removed from labor costs (and added to Labor and Management Charge) so that all farms are on equal footing. Net Return over Labor and Management is the return remaining after compensating the operator for unpaid labor and management. This is the per-unit return to equity capital. Labor and Management calculation: Management is calculated at 5% of the Value of Farm Production (VFP) Labor is valued at $13.50 per hour for 3,000 hours annually (one operator) The Value of Farm Production is the farm s total income less the cost of purchased feed. Example: Management at 5% * $950,000 VFP = $47,500 Labor of 3,000 hrs * $13.50 = $40,500 $88,000 Cost of Production shows the average cost per unit in each cost category. Total direct and overhead expense per unit is the breakeven price needed to cover cash costs and depreciation. With Other Revenue Adjustments is the breakeven price adjusted for cull sales, other offspring sales, the cost of replacement stock, and any other miscellaneous income. This assumes that some costs can be covered by these other income sources. With Labor and Management is the final breakeven price to provide a labor and management return for the operator(s). Other Information contains both economic and technical efficiency measures for the enterprise. Rounding of individual items for the report may cause minor discrepancies with the calculated total. Page 10
12 Benchmark Reports Benchmark reports follow each enterprise summary, both per cow, and per cwt. These reports include information on 34 income, expense, and efficiency measures from the dairy enterprise analyses. Benchmark reports allow farms to compare their performance against other Ohio farms. Farms that complete an analysis receive benchmark reports personalized for their farm. These reports include their farm s dairy enterprise numbers in a My Farm column next to the Group Median column, and the corresponding percentiles are highlighted for each of the 34 items. Managers can quickly see where they are doing well and where they have opportunities for improvement. The Benchmark reports are generated using the RankEm software from the University of Minnesota s Center for Farm Financial Management. Benchmark reports include the median value (half of the data points were higher, half of the data points were lower which will frequently be at least slightly different from the average) for each of the 34income, expense and efficiency measures. For each measure, the corresponding data is sorted from lowest to highest. Then the median value of for each 10% grouping of the data set is sorted into the 10%, 20%, 30%...100% columns of the table. Each line is calculated separately. In other words, the 10% column does not represent the bottom 10% of all farms, nor does the 100 th percentile group include only the top performing farms. An individual farm may be in the 80 th percentile for Gross Return, but in the 30 th percentile for feed cost. Typically, a farm s values will be scattered in multiple percentile groups (columns) across the chart. Hired Labor: Hired labor is listed on line 13 (the first line of overhead expenses). Ohio treats hired labor as a direct expense to the dairy enterprise; Minnesota treats it as an overhead expense. While it is listed in these benchmark reports after total direct expenses, it is included in the direct expense total. Utilities: Utilities are listed on line 17 of the benchmark reports. Ohio treats utilities as a direct expense to the dairy enterprise; Minnesota treats it as an overhead expense. While it is listed in these benchmark reports after total direct expenses, utilities are included in the direct expense total. Machinery Leases: Not enough farms had machinery leases to include data on these benchmark reports. Building Leases: Not enough farms had building leases to include data on benchmark reports. Corn, Corn Silage, and Alfalfa Fed: These numbers do not reflect all of the corn, corn silage, or alfalfa fed on the farms in the analysis. It would include all of the corn, corn silage or alfalfa raised on a farm which was fed in Purchased corn, corn silage, or alfalfa is often included as a purchased feed cost on some farms. Page 11
13 Dairy Enterprise Analysis (Farms Sorted By Net Return) Dairy -- Average Per Cow Avg. Of All Farms High 20% Number of farms 34 7 Quantity Value Quantity Value Milk sold (hd) 24, , , , Dairy Calves sold (hd) Transferred out (hd) Cull sales (hd) Other income Purchased (hd) Inventory change (hd) Gross margin 4, , Direct Expenses Protein Vit Minerals (lb.) , , Corn (bu.) Corn Silage (lb.) 22, , Corn, Ear (lb.) , Hay, Alfalfa (lb.) 2, Rye Silage (lb.) 2, , Hay, Alfalfa, Organic (lb.) Other feed stuffs (lb) 4, , Breeding fees Veterinary Supplies Contract production exp Repairs Custom hire Hired labor Utilities Hauling and trucking Marketing Bedding Total direct expenses 4, , Return over direct expense , Overhead Expenses Interest Mach & bldg depreciation Miscellaneous Total overhead expenses Total dir & ovhd expenses 4, , Net return Labor & management charge Net return over lbr & mgt Cost of Production Per Cwt. Of Milk Total direct expense per unit Total dir& ovhd expense per unit With other revenue adjustments With labor and management Est. labor hours per unit Other Information Number of cows Milk produced per cow 24,780 26,519 Total milk sold 7,643,645 6,892,893 Lb. of milk sold per FTE 1,356,468 2,161,328 Culling percentage Turnover rate Cow death loss percent Percent of barn capacity Feed cost per day Feed cost per cwt. of milk Feed cost per cow 2, , Hired labor per cow Avg. milk price per cwt Milk price / feed margin Annual Report RankEm The Ohio State University Page 12
14 Dairy Per Cow; 2016 Benchmark Report, 34 Enterprises Group Median Count Milk sales 4, Gross Margin 4, Total feed expense 2, Breeding Fees Veterinary Livestock supplies Fuel & Oil Repairs Marketing Operating interest Total direct expenses 4, Return over direct expenses Hired labor Building leases Real estate taxes Farm insurance Utilities Interest on interm. debt Interest on long term debt Machinery depreciation Building depreciation Total overhead expenses Total dir & ovhd expense 4, Net return Net return over lbr & mgt Cost of production Corn Fed (Bu.) Corn Silage Fed (Ton) Hay, Alfalfa Fed (Ton) Avg. number of head Milk produced per head 23, Culling percentage Turnover rate Percent of barn capacity Feed cost per cwt of milk Feed cost per head 2, Hired labor per cow Avg. milk price per cwt RankEm 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% 3, , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,965 18,637 19,526 20,437 21,978 23,867 26,085 26,624 29,057 30, , , , , , , , , , , Hired labor and utilities are included in total direct expenses in the Ohio Summary Refer to page 11 for information on how to use benchmark reports Page 13 RankEm The Ohio State University
15 Dairy Enterprise Analysis (Farms Sorted By Net Return) Dairy -- Average Per Cwt. Of Milk Avg. Of All Farms High 20% Number of farms 34 7 Quantity Value Quantity Value Milk sold (hd) Dairy Calves sold (hd) Transferred out (hd) Cull sales (hd) Other income Purchased (hd) Inventory change (hd) Gross margin Direct Expenses Protein Vit Minerals (lb.) Corn (bu.) Corn Silage (lb.) Corn, Ear (lb.) Hay, Alfalfa (lb.) Rye Silage (lb.) Hay, Alfalfa, Organic (lb.) Other feed stuffs (lb) Breeding fees Veterinary Supplies Contract production exp Repairs Custom hire Hired labor Utilities Hauling and trucking Marketing Bedding Total direct expenses Return over direct expense Overhead Expenses Interest Mach & bldg depreciation Miscellaneous Total overhead expenses Total dir & ovhd expenses Net return Labor & management charge Net return over lbr & mgt Cost of Production Per Cwt. Of Milk Total direct expense per unit Total dir& ovhd expense per unit With other revenue adjustments With labor and management Est. labor hours per unit Other Information Number of cows Milk produced per cow 24,780 26,519 Total milk sold 7,643,645 6,892,893 Lb. of milk sold per FTE 1,356,468 2,161,328 Culling percentage Turnover rate Cow death loss percent Percent of barn capacity Feed cost per day Feed cost per cwt. of milk Feed cost per cow 2, , Hired labor per cow Avg. milk price per cwt Milk price / feed margin Annual Report RankEm The Ohio State University Page 14
16 Dairy Per Cwt. Of Milk; 2016 Benchmark Report, 34 Enterprises Group Median Count RankEm 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Milk sales Gross Margin Total feed expense Breeding Fees Veterinary Livestock supplies Fuel & Oil Repairs Marketing Operating interest Total direct expenses Return over direct expenses Hired labor Building leases Real estate taxes Farm insurance Utilities Inerest on interm. Debt Interest on long term debt Machinery depreciation Building depreciation Total overhead expenses Total dir & ovhd expense Net return Net return over lbr & mgt Cost of production Corn Fed (Bu.) Corn Silage Fed (Ton) Hay, Alfalfa Fed (Ton) Avg. number of head Milk produced per head 23, Culling percentage Turnover rate Percent of barn capacity Feed cost per cwt of milk Feed cost per head 2, Hired labor per cow Avg. milk price per cwt , ,965 18,637 19,526 20,437 21,978 23,867 26,085 26,624 29,057 30, , , , , , , , , , , Hired labor and utilities are included in total direct expenses in the Ohio Summary Refer to page 11 for information on how to use benchmark reports Page 15 RankEm The Ohio State University
17 Ohio Dairy Enterprise Analysis (Farms Sorted By Net Return) Dairy -- Average Per Cow Low 20% 20-40% 40-60% 60-80% High 20% Number of farms Quantity Value Quantity Value Quantity Value Quantity Value Quantity Value Milk sold (hd) 23, , , , , , , , , , Dairy Calves sold (hd) Transferred out (hd) Cull sales (hd) Other income Purchased (hd) Inventory change (hd) Gross margin 4, , , , , Direct Expenses Protein Vit Minerals (lb.) - 1, , , , , , Corn (bu.) Corn Silage (lb.) 27, , , , , Hay, Alfalfa (lb.) 1, , , , Rye Silage (lb.) 1, , , , , Hay, Alfalfa, Organic (lb.) Other feed stuffs (lb) 4, , , , Breeding fees Veterinary Supplies Contract production exp Repairs Custom hire Hired labor Utilities Hauling and trucking Marketing Bedding Total direct expenses 4, , , , , Return over direct expense , Overhead Expenses Interest Mach & bldg depreciation Miscellaneous Total overhead expenses Total dir & ovhd expenses 4, , , , , Net return Labor & management charge Net return over lbr & mgt Cost of Production Per Cwt. Of Milk Total direct expense per unit Total dir& ovhd expense per unit With other revenue adjustments With labor and management Est. labor hours per unit Other Information Number of cows Milk produced per cow 23,945 22,993 24,622 25,969 26,519 Total milk sold 6,628,656 7,409,067 8,879,766 8,262,843 6,892,893 Lb. of milk sold per FTE 1,290,369 1,164,823 1,098,590 1,549,121 2,161,328 Culling percentage Turnover rate Cow death loss percent Percent of barn capacity Feed cost per day Feed cost per cwt. of milk Feed cost per cow 2, , , , , Hired labor per cow Avg. milk price per cwt Milk price / feed margin Ohio Farm Business Analysis Annual Report Page 16 The Ohio State University
18 Ohio Dairy Enterprise Analysis (Farms Sorted By Net Return) Dairy -- Average Per Cwt. Of Milk Low 20% 20-40% 40-60% 60-80% High 20% Number of farms Quantity Value Quantity Value Quantity Value Quantity Value Quantity Value Milk sold (hd) Dairy Calves sold (hd) Transferred out (hd) Cull sales (hd) Other income Purchased (hd) Inventory change (hd) Gross margin Direct Expenses Protein Vit Minerals (lb.) Corn (bu.) Corn Silage (lb.) Hay, Alfalfa (lb.) Rye Silage (lb.) Hay, Alfalfa, Organic (lb.) DDGS, wet (lb.) Other feed stuffs (lb) Breeding fees Veterinary Supplies Contract production exp Repairs Custom hire Hired labor Utilities Hauling and trucking Marketing Bedding Total direct expenses Return over direct expense Overhead Expenses Interest Mach & bldg depreciation Miscellaneous Total overhead expenses Total dir & ovhd expenses Net return Labor & management charge Net return over lbr & mgt Cost of Production Per Cwt. Of Milk Total direct expense per unit Total dir& ovhd expense per unit With other revenue adjustments With labor and management Est. labor hours per unit Other Information Number of cows Milk produced per cow 23,945 22,993 24,622 25,969 26,519 Total milk sold 6,628,656 7,409,067 8,879,766 8,262,843 6,892,893 Lb. of milk sold per FTE 1,290,369 1,164,823 1,098,590 1,549,121 2,161,328 Culling percentage Turnover rate Cow death loss percent Percent of barn capacity Feed cost per day Feed cost per cwt. of milk Feed cost per cow 2, , , , , Hired labor per cow Avg. milk price per cwt Milk price / feed margin Ohio Farm Business Analysis Annual Report Page 17 The Ohio State University
19 Ohio Dairy Enterprise Analysis (Farms Sorted By Enterprise Size) Dairy -- Average Per Cow Over Number of farms Quantity Value Quantity Value Quantity Value Quantity Value Milk sold (hd) 22, , , , , , , , Dairy Calves sold (hd) Transferred out (hd) Cull sales (hd) Other income Purchased (hd) Inventory change (hd) Gross margin 5, , , , Direct Expenses Protein Vit Minerals (lb.) , , , , , Corn (bu.) Corn Silage (lb.) 9, , , , Hay, Alfalfa (lb.) , , , Rye Silage (lb.) 1, , , Corn, Organic (bu.) Hay, Alfalfa, Organic (lb.) Hay, Grass, Organic (lb.) Hay, Mixed, Organic (lb.) 4, Other feed stuffs (lb) 7, , , , Breeding fees Veterinary Supplies Contract production exp Repairs Hired labor Utilities Hauling and trucking Bedding Total direct expenses 4, , , , Return over direct expense 1, Overhead Expenses Building leases Mach & bldg depreciation Miscellaneous Total overhead expenses Total dir & ovhd expenses 5, , , , Net return Labor & management charge Net return over lbr & mgt Cost of Production Per Cwt. Of Milk Total direct expense per unit Total dir& ovhd expense per unit With other revenue adjustments With labor and management Est. labor hours per unit Other Information Number of cows Milk produced per cow 22,786 21,694 24,335 26,536 Total milk sold 1,560,453 3,401,355 8,288,001 21,448,170 Lb. of milk sold per FTE 821,260 1,112,585 1,240,291 1,648,568 Culling percentage Turnover rate Cow death loss percent Percent of barn capacity Feed cost per day Feed cost per cwt. of milk Feed cost per cow 2, , , , Hired labor per cow Avg. milk price per cwt Milk price / feed margin Ohio Farm Business Analysis Annual Report Page 18 The Ohio State University
20 Ohio Dairy Enterprise Analysis (Farms Sorted By Enterprise Size) Dairy -- Average Per Cwt. Of Milk Over Number of farms Quantity Value Quantity Value Quantity Value Quantity Value Milk sold (hd) Dairy Calves sold (hd) Transferred out (hd) Cull sales (hd) Other income Purchased (hd) Inventory change (hd) Gross margin Direct Expenses Protein Vit Minerals (lb.) Corn (bu.) Corn Silage (lb.) Hay, Alfalfa (lb.) Corn, Organic (bu.) Hay, Alfalfa, Organic (lb.) Hay, Grass, Organic (lb.) Hay, Mixed, Organic (lb.) Other feed stuffs (lb) Breeding fees Veterinary Supplies Contract production exp Repairs Hired labor Utilities Hauling and trucking Bedding Total direct expenses Return over direct expense Overhead Expenses Building leases Mach & bldg depreciation Miscellaneous Total overhead expenses Total dir & ovhd expenses Net return Labor & management charge Net return over lbr & mgt Cost of Production Per Cwt. Of Milk Total direct expense per unit Total dir& ovhd expense per unit With other revenue adjustments With labor and management Est. labor hours per unit Other Information Number of cows Milk produced per cow 22,786 21,694 24,335 26,536 Total milk sold 1,560,453 3,401,355 8,288,001 21,448,170 Lb. of milk sold per FTE 821,260 1,112,585 1,240,291 1,648,568 Culling percentage Turnover rate Cow death loss percent Percent of barn capacity Feed cost per day Feed cost per cwt. of milk Feed cost per cow 2, , , , Hired labor per cow Avg. milk price per cwt Milk price / feed margin Ohio Farm Business Analysis Annual Report Page 19 The Ohio State University
21 Dairy Per Cow; 2016 Benchmark Report, 18 Enterprises Herds with 30 to 200 Cows RankEm Group Median Count 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Milk sales 4, Gross Margin 4, Total feed expense 2, Breeding Fees Veterinary Livestock supplies Fuel & Oil Repairs Marketing Operating interest Total direct expenses 3, Return over direct expenses Hired labor Real estate taxes Farm insurance Utilities Inerest on interm. Debt Interest on long term debt Machinery depreciation Building depreciation Total overhead expenses Total dir & ovhd expense 3, Net return Net return over lbr & mgt Cost of production Corn Fed (Bu.) Corn Silage Fed (Ton) Hay, Alfalfa Fed (Ton) Avg. number of head Milk produced per head 19, Culling percentage Turnover rate Percent of barn capacity Feed cost per cwt of milk Feed cost per head 2, Hired labor per cow Avg. milk price per cwt , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,234 16,058 18,102 19,451 19,721 20,977 23,108 25,977 28,107 30, , , , , , , , , , , Hired labor and utilities are included in total direct expenses in the Ohio Summary Refer to page 11 for information on how to use benchmark reports Page 20 RankEm The Ohio State University
22 Dairy Per Cwt. Of Milk; 2016 Benchmark Report, 18 Enterprises Group Median Count RankEm Herds with Cows 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Milk sales Gross Margin Total feed expense Breeding Fees Veterinary Livestock supplies Fuel & Oil Repairs Marketing Operating interest Total direct expenses Return over direct expenses Hired labor Real estate taxes Farm insurance Utilities Inerest on interm. Debt Interest on long term debt Machinery depreciation Building depreciation Total overhead expenses Total dir & ovhd expense Net return Net return over lbr & mgt Cost of production Corn Fed (Bu.) Corn Silage Fed (Ton) Hay, Alfalfa Fed (Ton) Avg. number of head Milk produced per head 19, Culling percentage Turnover rate Percent of barn capacity Feed cost per cwt of milk Feed cost per head 2, Hired labor per cow Avg. milk price per cwt ,234 16,058 18,102 19,451 19,721 20,977 23,108 25,977 28,107 30, , , , , , , , , , , Hired labor and utilities are included in total direct expenses in the Ohio Summary Refer to page 11 for information on how to use benchmark reports Page 21 RankEm The Ohio State University
2013 Ohio Farm Business Analysis
2013 Ohio Farm Business Analysis Dairy Enterprise Analysis Summary Including Benchmark Reports For information on participating in the Ohio Farm Business Analysis program analyzing your farm s 2014 performance,
More information2007 Michigan Dairy Farm Business Analysis Summary. Eric Wittenberg And Christopher Wolf. Staff Paper December, 2008
2007 Michigan Dairy Farm Business Analysis Summary Eric Wittenberg And Christopher Wolf Staff Paper 2008-04 December, 2008 Department of Agricultural, Food, and Resource Economics MICHIGAN STATE UNIVERSITY
More informationBEEF COW/CALF ENTERPRISE BUDGET 2016 Estimated Costs and Returns - San Luis Valley
Estimated s and Returns - San Luis Valley PRODUCTION ASSUMPTIONS Exposed Females (Cows & Heifers) 300 Total Calves Weaned (head) 258 Cows Per Bull 25 Steers (head) 129 Cow Death Loss 3% Total Heifers (head)
More informationLivestock Enterprise. Budgets for Iowa 2017 File B1-21. Ag Decision Maker
Livestock Enterprise Ag Decision Maker Budgets for Iowa 2017 File B1-21 This publication contains estimates of production costs for common livestock enterprises in Iowa. Estimates are intended to reflect
More informationIntro to Livestock Marketing Annie s Project. Tim Petry Livestock Economist 2018
Intro to Livestock Marketing Annie s Project Tim Petry Livestock Economist www.ndsu.edu/livestockeconomics 2018 ANNIES Feb2018 Always excuses NOT to market! Marketing takes time and planning Look for excuses
More informationBackground and Assumptions
2016 Costs and Returns Estimate. Cow-Calf Budget: 250-head Northern Idaho Summer on Private Range, Winter Feeding Necessary Ben Eborn, Jim Church and Neil Rimbey Background and Assumptions University of
More information2008 Michigan Cash Grain Farm Business Analysis Summary. Eric Wittenberg And Stephen Harsh. Staff Paper November, 2009
2008 Michigan Cash Grain Farm Business Analysis Summary Eric Wittenberg And Stephen Harsh Staff Paper 2009-11 November, 2009 Department of Agricultural, Food, and Resource Economics MICHIGAN STATE UNIVERSITY
More information2007 PLANNING BUDGETS FOR DAIRY PRODUCTION IN MISSISSIPPI COSTS AND RETURNS. 112 and 250 COW DAIRY ENTERPRISES LARGE BREED CATTLE MISSISSIPPI, 2007
2007 PLANNING BUDGETS FOR DAIRY PRODUCTION IN MISSISSIPPI COSTS AND RETURNS 112 and 250 COW DAIRY ENTERPRISES LARGE BREED CATTLE MISSISSIPPI, 2007 MISSISSIPPI STATE UNIVERSITY EXTENSION SERVICE MISSISSIPPI
More information2007 Michigan Cash Grain Farm Business Analysis Summary. Eric Wittenberg And Stephen Harsh. Staff Paper December, 2008
2007 Michigan Cash Grain Farm Business Analysis Summary Eric Wittenberg And Stephen Harsh Staff Paper 2008-07 December, 2008 Department of Agricultural, Food, and Resource Economics MICHIGAN STATE UNIVERSITY
More informationU.S. DEPARTMENT OF AGRICULTURE ECONOMIC RESEARCH SERVICE August 1972 FCR-83 cooperating with New Mexico State University COSTS NOV
U.S. DEPARTMENT OF AGRICULTURE ECONOMIC RESEARCH SERVICE August 1972 FCR-83 cooperating with New Mexico State University COSTS NOV 2 1872 and RETURNS FARM COSTS AND RETURNS STUDIES This report is part
More informationBackground and Assumptions
2016 Costs and Returns Estimate. Cow-Calf Budget: 250-head, Eastern Idaho Eastern Idaho Summer on Federal, State & Private Range Winter Feeding Necessary Ben Eborn, Danielle Gunn and Steven Harrison Background
More informationDetermining Your Unit Costs of Producing A Hundred Weight of Calf
Managing for Today s Cattle Market and Beyond Determining Your Unit Costs of Producing A Hundred Weight of Calf By Harlan Hughes North Dakota State University Unit Costs of Production Astute beef cow producers
More informationHerd Size. Level of Production. Summary
$18.22 per cwt which was 5.8 percent higher than the $17.22 per cwt received by the Georgia dairies. While the Florida group had higher total revenue than Georgia dairies, total expense were also higher.
More informationCosts to Produce Milk in Illinois 2003
Costs to Produce Milk in Illinois 2003 University of Illinois Farm Business Management Resources FBM-0160 Costs to Produce Milk in Illinois 2003 Dale H. Lattz Extension Specialist, Farm Management Department
More informationEconomic, Productive & Financial Performance Of Alberta Cow/Calf Operations
Benchmarks for Cattlemen Economics & Competitiveness Economic, Productive & Financial Performance Of Cow/Calf Operations Southern Fescue land, Mixed land & Moist Mixed land Production Year - 2002 Jan.
More informationEconomic, Productive & Financial Performance Of Alberta Cow/Calf Operations
Benchmarks for Cattlemen Economics & Competitiveness Economic, Productive & Financial Performance Of Cow/Calf Operations Comparing:, Profitability & Production Management Groupings Production Year - 1998
More informationMILK PRODUCTION COSTS in 2008 On Selected WISONSIN DAIRY FARMS
MILK PRODUCTION COSTS in 2008 On Selected WISONSIN DAIRY FARMS By Ken Bolton and Jenny Vanderlin 1 October 2009 Introduction The Basic Cost of Production increased in 2008 by $0.35/cwt equivalent (CWT
More information2011 STATE FFA FARM BUSINESS MANAGEMENT TEST PART 2. Financial Statements (FINPACK Balance Sheets found in the resource information)
2011 STATE FFA FARM BUSINESS MANAGEMENT TEST PART 2 Financial Statements (FINPACK Balance Sheets found in the resource information) Please use the Market Value when making the calculations for the Zimmerman
More informationManaging For Today s Cattle Market And Beyond: A Comparative Analysis Of ND - Demo Cow Herd To North Dakota Database
Managing For Today s Cattle Market And Beyond: A Comparative Analysis Of ND - Demo - 160 Cow Herd To North Dakota Database By Harlan Hughes Extension Livestock Economist Dept of Agricultural Economics
More informationAn Economic Comparison of Organic and Conventional Dairy Production, and Estimations on the Cost of Transitioning to Organic Production
An Economic Comparison of Organic and Conventional Dairy Production, and Estimations on the Cost of Transitioning to Organic Production Produced by: the Northeast Organic Farming Association of Vermont
More information2012 STATE FFA FARM BUSINESS MANAGEMENT TEST PART 2. Financial Statements (FINPACK Balance Sheets found in the resource information)
2012 STATE FFA FARM BUSINESS MANAGEMENT TEST PART 2 Financial Statements (FINPACK Balance Sheets found in the resource information) Please use the Market Value when making the calculations for the Zimmerman
More informationManaging For Today s Cattle Market And Beyond A Comparative Analysis Of Demo Herd 1997 Herd To McKenzie County Database
Managing For Today s Cattle Market And Beyond A Comparative Analysis Of Demo Herd 1997 Herd To McKenzie County Database By Harlan Hughes Extension Livestock Economist Dept of Agricultural Economics North
More informationPROJECTING CASH FLOWS ON DAIRY FARMS
January 2002 E.B. 2002-04 PROJECTING CASH FLOWS ON DAIRY FARMS By Eddy L. LaDue Agricultural Finance and Management at Cornell Cornell Program on Agricultural and Small Business Finance Department of Applied
More informationReport on Minnesota Farm Finances. April, 2010
2009 Report on Minnesota Farm Finances April, 2010 Acknowledgements: Contributing Minnesota producers Minnesota State Colleges and Universities Farm Business Management Education Program Southwestern Minnesota
More informationFINPACK. Livestock Budgets. Based on 2015 FINBIN Database Reports
July, 2016 FINPACK Livestock Budgets Based on 2015 FINBIN Database Reports Data Source: Minnesota Farm Business Management, Minnesota State Colleges and Universities, University of Minnesota Dale Nordquist
More informationChapter 7. Dairy -- Farm Management Wayne A. Knoblauch, Professor George J. Conneman, Professor Emeritus Cathryn Dymond, Extension Support Specialist
Chapter 7. Dairy -- Farm Management Wayne A. Knoblauch, Professor George J. Conneman, Professor Emeritus Cathryn Dymond, Extension Support Specialist Herd Size Comparisons The 171 New York dairy farms
More informationMargin = Difference. Navigating Through Financials- Careful Where you Step! Stepping Forward. Revenue $$$ less expenses $$$ Improving Margins
Navigating Through Financials- Careful Where you Step! Margin = Difference Revenue $$$ less expenses $$$ Improving Margins Revenue Expense Both 1 2014 Margins Improved 2014 Margin Example Improved Margins
More informationGrass-fed and Organic Beef: Production Costs and Breakeven Market Prices, 2008 and 2009
AS 658 ASL R2684 2012 Grass-fed and Organic Beef: Production Costs and Breakeven Market Prices, 2008 and 2009 Denise Schwab Iowa State University Margaret Smith Iowa State University H. Joe Sellers Iowa
More informationUsing Enterprise Budgets to Compute Crop Breakeven Prices Michael Langemeier, Associate Director, Center for Commercial Agriculture
June 2017 Using Enterprise Budgets to Compute Crop Breakeven Prices Michael Langemeier, Associate Director, Center for Commercial Agriculture Enterprise budgets provide an estimate of potential revenue,
More informationRanch Calculator (RanchCalc)
Oklahoma Cooperative Extension Service Current Report CR-3252 0609 Oklahoma Cooperative Extension Fact Sheets are also available on our website at: facts.okstate.edu Ranch Calculator (RanchCalc) Damona
More informationCosts to Produce Milk in Illinois 2016
Costs to Produce Milk in Illinois 2016 Costs to Produce Milk in Illinois 2016 University of Illinois Farm Business Management Resources FBM-0160 Brandy M. Krapf, Dwight D. Raab, and Bradley L. Zwilling
More informationMILK PRODUCTION COSTS in 2009 on Selected WISONSIN DAIRY FARMS
MILK PRODUCTION COSTS in 2009 on Selected WISONSIN DAIRY FARMS By Ken Bolton and Jenny Vanderlin 1 Introduction January 2011 The good news is that Wisconsin dairy farmers lowered their basic cost of production
More informationThe data for this report were collected by Iowa Farm Business Association consultants and compiled by Iowa State University Extension and Outreach.
2016 Cash Iowa Rental Farm Rates Costs for Iowa Ag Decision Maker Returns 2015 Survey File C1-10 The farm record data utilized in this report were obtained from the Iowa Farm Business Association. The
More informationSHEEP FLOCK PLANNING GUIDE,"
SHEEP FLOCK PLANNING GUIDE," LJARM MANAGEMENT SERIES UNIVERSITY OF MINNESOTA.----... llll\ll\\\l\\\l\l\l\l\l\\l\\\l\\l\l\lll\ll\\\\l\\l\l\l\\l\\l\11\\\ll\\\\ll\\\ll\\\lll 3 1951 003 292660 J.... : - I.t-
More information2017 Tennessee Agricultural Outlook. Aaron Smith Crop Economist University of Tennessee Extension
2017 Tennessee Agricultural Outlook Aaron Smith Crop Economist University of Tennessee Extension Overview Review of the Tennessee Agricultural Economy Crops Livestock 2017 Estimated Net Returns Principle
More informationA Study into Dairy Profitability MSC Business Services during
A Study into Dairy Profitability MSC Business Services during 2006-2009 July 2010 Authors: Michael Evanish, Manager Wayne Brubaker, Consultant Lee Wenger, Consultant Page 1 of 43 Page 2 of 43 Index Part
More informationKansas Farm Economy Update Land and Leasing
Kansas Farm Economy Update Land and Leasing Mykel Taylor Kansas State University January 10, 2017 Net Farm and Ranch Income Returns over Total Costs ($/ac) $230,000 $180,000 $130,000 $80,000 $30,000 $(20,000)
More informationThe Impacts of Increasing Fuel Costs on Nevada s Agricultural Enterprises
Fact Sheet-08-37 The Impacts of Increasing Fuel Costs on Nevada s Agricultural Enterprises Kynda R. Curtis, Agriculture Marketing Specialist, University of Nevada Cooperative Extension; and Assistant Professor,
More informationCentral Texas Cow/Calf Clinic
Central Texas Cow/Calf Clinic Market Update/Beef Cattle Economics August 18, 2011 Bill Thompson AgriLife Extension Economist San Angelo, TX http://sanangelo.tamu.edu/programs/ag_economics/index.php 1 Mil.
More informationOctober 20, 1998 Ames, Iowa Econ. Info U.S., WORLD CROP ESTIMATES TIGHTEN SOYBEAN SUPPLY- DEMAND:
October 20, 1998 Ames, Iowa Econ. Info. 1752 U.S., WORLD CROP ESTIMATES TIGHTEN SOYBEAN SUPPLY- DEMAND: USDA's domestic and world crop estimates show a less burdensome world supply-demand balance for soybeans
More informationCOW/CALF DAYS 2015 NICOLE KENNEY-RAMBO
Record Keeping COW/CALF DAYS 2015 NICOLE KENNEY-RAMBO NMKENNEY@UMN.EDU 1 RECORD KEEPING 101 Production Operational Financial Analysis 2 PRODUCTION/PERFORMANCE Whole Herd vs. Individual Animal Reproductive
More informationEC Estimating the Most Profitable Use of Center-Pivot Irrigation for a Ranch
University of Nebraska - Lincoln DigitalCommons@University of Nebraska - Lincoln Historical Materials from University of Nebraska- Lincoln Extension Extension 1974 EC74-861 Estimating the Most Profitable
More informationGUIDE TO ASSEMBLING DATA FOR COW-CALF
GUIDE TO ASSEMBLING DATA FOR COW-CALF SPA-38 STANDARDIZED PERFORMANCE ANALYSIS* Revised 1-25-06 DATA NEEDED Assembling necessary data for the Cow-Calf Standardized Performance Analysis (SPA) is the most
More informationNorth Dakota State Beef Average Summary
North Dakota State Beef Average Summary Historical Data: Average Beef Net Returns from Farm & Ranch Management Programs for the last 15 years. $250.00 $200.00 $150.00 $100.00 $50.00 $- $(50.00) Average
More information2011 Economic Contribution Analysis of Washington Dairy Farms and Dairy Processing: An Input-Output Analysis
Farm Business Management Report 2011 Economic Contribution Analysis of Washington Dairy Farms and Dairy Processing: An Input-Output Analysis May 2013 J. Shannon Neibergs Extension Economic Specialist and
More informationBUSINESS SUMMARY DAIRY FARM WESTERN NEW YORK REGION 2011 JUNE 2012 E.B
DAIRY FARM BUSINESS SUMMARY JUNE 2012 E.B. 2012-03 WESTERN NEW YORK REGION 2011 You can t manage what you can t measure. But if you measure it, you can improve it! Wayne A. Knoblauch Linda D. Putnam Jason
More informationRevised Estimated Returns Series Beginning in 2007
Revised Estimated Returns Series Beginning in 2007 The Economics Department at Iowa State University has prepared monthly Estimated Returns to Feeding Livestock in Iowa since the 1960s. Each month the
More informationUSING PRODUCTION COSTS AND BREAKEVEN LEVELS TO DETERMINE INCOME POSSIBILITIES
USING PRODUCTION COSTS AND BREAKEVEN LEVELS TO DETERMINE INCOME POSSIBILITIES Dale Lattz and Gary Schnitkey Department of Agricultural and Consumer Economics University of Illinois at Urbana-Champaign
More informationDairy Outlook. January By Jim Dunn Professor of Agricultural Economics, Penn State University. Market Psychology
Dairy Outlook January 2015 By Jim Dunn Professor of Agricultural Economics, Penn State University Market Psychology Dairy prices have fallen in the past month, especially butter prices. The dollar is still
More informationGrassfed Beef Production Profit Projection and Closeout
Grassfed Beef Production Profit Projection and Closeout You can t predict but you can prepare. The purpose grassfed beef retained ownership beyond the cow-calf phase or purchased stockers spreadsheets
More informationAgri-Service Industry Report
Years Since Presidential Election 1950 1955 1960 1965 1970 1975 1980 1985 1990 1995 2000 2005 2010 2015 Billions Agri-Service Industry Report November 2016 Dan Hassler Farm Income and Presidential Elections
More informationWISCONSIN AgFA DAIRY FARMS PROFITABILITY REPORT 2009 PRODUCTION YEAR
A Center for Dairy Profitability Report and UW-Extension publication WISCONSIN AgFA DAIRY FARMS PROFITABILITY REPORT 2009 PRODUCTION YEAR by Ryan Sterry and Jenny Vanderlin 1 April 2011 1 Ryan Sterry,
More informationUser Manual - Custom Finish Cattle Profit Projection
User Manual - Custom Finish Cattle Profit Projection The purpose of this decision aid is to help facilitate the organization of custom finish cattle, feeder cattle price, costs and production data to project
More informationOPERATING INPUTS Units Price Quantity $/Acre Wheat Seed Bu./acre $ $ Custom Harvest Acre $ -
Dryland Wheat Enterprise Budget - Grain and Graze 1000 acres farmed, 160 acres for this budget No Till - Continuous 2008 marketing year price projection Total PRODUCTION Units Price Quantity $/Acre Wheat
More informationSeasonal Trends in Steer Feeding Profits, Prices, and Performance
MF-2547 Seasonal Trends in Steer Feeding Profits, Prices, and Performance Kansas State University Agricultural Experiment Station and Cooperative Extension Service 1 2 This publication is a revised version
More informationGuidelines for Estimating. Bison Cow-Calf Production Costs 2017 in Manitoba
Guidelines for Estimating Bison Cow-Calf Production Costs 2017 in Manitoba ................................................. Guidelines For Estimating Bison Cow-Calf Production Costs Based on a 100 Head
More informationGrazing Management Different Strategies. Dr Jim Russell and Joe Sellers Iowa State University
Grazing Management Different Strategies Dr Jim Russell and Joe Sellers Iowa State University Cattle are important Keeping land in grasses reduces erosion and improves water quality Productive, well managed
More informationReport on Minnesota Farm Finances. April, 2015
2014 Report on Minnesota Farm Finances April, 2015 Acknowledgements: Contributing Minnesota producers Minnesota State Colleges and Universities Farm Business Management Education Program Southwestern Minnesota
More informationSlope Farms. Our farm. Our work with other farmers. Experience with leasing land. Models for seasonal grazing
Slope Farms Our farm Our work with other farmers Experience with leasing land Models for seasonal grazing Slope Farms LLC what we do Grass fed beef producer: 200 head cattle Branding, aggregation, quality
More informationSOUTHWESTERN MINNESOTA FARM BUSINESS MANAGEMENT ASSOCIATION ANNUAL REPORT
SOUTHWESTERN MINNESOTA FARM BUSINESS MANAGEMENT ASSOCIATION 2012 ANNUAL REPORT Staff Paper P13-2 Department of Applied Economics University of Minnesota Saint Paul, MN 55108 March 2013 In Cooperation with:
More informationAgri-Service Industry Report
Agri-Service Industry Report December 2016 Dan Hassler 2017 U.S. Industry Outlook A little better or a little worse is the quickest way to sum up the expectations for the agricultural equipment industry
More informationDairy Outlook. June By Jim Dunn Professor of Agricultural Economics, Penn State University. Market Psychology
Dairy Outlook June 2015 By Jim Dunn Professor of Agricultural Economics, Penn State University Market Psychology Cheese prices have been rising this past month, rising 16 cents/lb. in a fairly steady climb.
More informationMarketing Cull Cows How & When?
University of Nebraska - Lincoln DigitalCommons@University of Nebraska - Lincoln Range Beef Cow Symposium Animal Science Department December 1995 Marketing Cull Cows How & When? Dillon M. Feuz South Dakota
More informationTEXAS A8cM UNIVERSITY TEXAS AGRICULTURAL EXTENSION SERVICE
TEXAS A8cM UNIVERSITY TEXAS AGRICULTURAL EXTENSION SERVICE J. E. HUTCHISON, DIRECTOR, COLLEGE STATION, TEXAS SEASONAL CHANGES IN CATTLE PRICES Edward Uvacek, Jr. and Ernest E. Davis* Beef has been blessed
More informationWhat s Driving Dairy Profitability. Greg Bethard, Ph.D. GPS Dairy Consulting, LLC Blacksburg, VA
What s Driving Dairy Profitability Greg Bethard, Ph.D. GPS Dairy Consulting, LLC Blacksburg, VA gregbethard@gpsdairy.com Concepts Benchmarking is a bad idea Goal Setting and tracking makes a lot of sense
More informationEvaluating Preconditioning Profitability - Projection and Closeout Manual
Evaluating Preconditioning Profitability - Projection and Closeout Manual This user manual describes the methodology for a cow-calf producer to evaluate the profitability of preconditioning calves to forward
More informationSummary of Economic Studies of Organic Dairy Farming in Wisconsin (Seven Years), New England, and Quebec. By Tom Kriegl 1 June 28, 2007
Summary of Economic Studies of Organic Dairy Farming in Wisconsin (Seven Years), New England, and Quebec By Tom Kriegl 1 June 28, 2007 Potential organic dairy producers want to know three things about
More informationNorthern Utah Small Cow-Calf Pasture Finished Beef Production Costs & Returns, 2012
January 2013 Applied Economics/2013-01pr Northern Utah Small Cow-Calf Pasture Finished Beef Production Costs & Returns, 2012 Kynda R. Curtis, Associate Professor and Extension Specialist, Department of
More informationIII. Stuart F. Smith. September 1980 A.E. Res
September 1980 A.E. Res. 80-16 III y 1979 Stuart F. Smith Department of Agricultural Economics Cornell University Agricultural Experiment Station New York Stole College of Agriculture and Life Sciences
More informationCattle Market Situation and Outlook
Cattle Market Situation and Outlook Rebuilding the Cow Herd Series March 28, 2007 Falls City, TX Coordinated by: Dennis Hale-Karnes CEA Ag & Charlie Pfluger-Wilson CEA Ag Prepared and presented by: Larry
More informationThis guide examines the financial feasibility of
AGRICULTURE Converting an Existing Dairy to the Missouri 75-Cow Grazing Dairy Model This guide examines the financial feasibility of creating a new Missouri grass-based dairy by converting an existing
More informationDairy Outlook. April By Jim Dunn Professor of Agricultural Economics, Penn State University. Market Psychology
Dairy Outlook April 2017 By Jim Dunn Professor of Agricultural Economics, Penn State University Market Psychology The Class III price in March was $1.07 lower than in February, while the Class IV price
More informationRETUR COSTS A 8 R R. and 96 LI6R R
U.S. DEPARTMENT OF AGRICULTURE ECONOMIC RESEARCH SERVICE SEPTEMBER 1968 FCR -62 koope roting with KENTUCKY AND TENNESSEE AGRICULTURAL EXPERIMENT STATIONS COSTS A 8 R R. LI6R R and 96 RETUR FARM COSTS AND
More informationJason Henderson Vice President and Branch Executive Federal Reserve Bank of Kansas City Omaha Branch April 25, 2012
Jason Henderson Vice President and Branch Executive April 25, 2012 The views expressed are those of the author and do not necessarily reflect the opinions of the Federal Reserve Bank of Kansas City or
More informationCow-Calf Ranch Input Worksheet- Unit Cost of Production Workshop Users Guide
Cow-Calf Ranch Input Worksheet- Unit Cost of Production Workshop Users Guide Introduction and Background To guide ranchers in assessing their business profitability, the BC Ministry of Agriculture is hosting
More informationA Ten Year Economic Look at Wisconsin Dairy Systems Tom Kriegl and Gary Frank 1 November 28, Introduction
A Ten Year Economic Look at Wisconsin Dairy Systems Tom Kriegl and Gary Frank 1 November 28, 2005 Introduction For more than a decade, concern has been expressed about the shrinking of the Wisconsin milk
More informationEconomic Importance of the Indiana Dairy Industry
Select an AgEcon Link August 2006 Economic Importance of the Indiana Dairy Industry Carlos D. Mayén, Graduate Student and Kevin T. McNamara, Professor The Indiana dairy industry is an important part of
More informationOrganic. Projected 2010
February 2010 Projected 2010 Organic Crop Budgets South Central North Dakota Andrew Swenson, Farm Management Specialist Ron Haugen, Farm Management Specialist Brad Brummond, Walsh County Extension Agent
More informationDifferences Between High-, Medium-, and Low-Profit Cow-Calf Producers: An Analysis of Kansas Farm Management Association Cow-Calf Enterprise
Differences Between High-, Medium-, and Low-Profit Cow-Calf Producers: An Analysis of 2012-2016 Kansas Farm Management Association Cow-Calf Enterprise Dustin L. Pendell (dpendell@ksu.edu) and Kevin L.
More informationFORAGE SYSTEMS TO REDUCE THE WINTER FEEDING PERIOD. Gerald W. Evers
Proceedings: Adjusting to High Fuel and Fertilizer Prices Research Center Technical Report No. 2008-01 FORAGE SYSTEMS TO REDUCE THE WINTER FEEDING PERIOD Gerald W. Evers Livestock require some form of
More informationDifferences Between High-, Medium-, and Low-Profit Cow-Calf Producers: An Analysis of Kansas Farm Management Association Cow-Calf Enterprise
Differences Between High-, Medium-, and Low-Profit Cow-Calf Producers: An Analysis of 2010-2014 Kansas Farm Management Association Cow-Calf Enterprise Dustin L. Pendell (dpendell@ksu.edu), Youngjune Kim
More informationOrganic Dairy Sector Evolves To Meet Changing Demand
Organic Dairy Sector Evolves To Meet Changing Demand VOLUME 8 ISSUE 1 William D. McBride, wmcbride@ers.usda.gov Catherine Greene, cgreene@ers.usda.gov 28 AMBER WAVES Organic milk production has been one
More informationTotal 2, ,519
TABLE 1. Basic cost information for San Juan County Actual 2014 BUDGET AREA... SAN JUAN COUNTY Actual 2014 FARM SIZE...... 20 ACRES Item IRRIGATION TYPE... FLOOD NUMBER OF CROPS... 2 Labor Wage Rate: Equipment
More informationReal Herds Real Heifers: The Cost of Raising Today s s Dairy Heifer
Real Herds Real Heifers: The Cost of Raising Today s s Dairy Heifer Developed & Presented by: Abby Huibregtse & Tina Kohlman UW-Extension Oconto County & Sheboygan County Dairy Calf and Heifer Association
More informationITEM PRICE YIELD TOTAL GROSS RETURNS OAT HAY TONS (IN FIELD) TOTAL PURCHASED PURCHASED INPUTS PRICE QUANTITY INPUTS TOTAL
TABLE 4. Alfalfa establishment, flood-irrigated, budgeted per acre costs and returns for a 20 acre part-time farm, San Juan County. Projected 2015 Planting dates: April 15 - June 1 Harvest dates: June
More informationGuidelines for Estimating. Beef Cow-Calf Production Costs 2017 in Manitoba
Guidelines for Estimating Beef Cow-Calf Production Costs 2017 in Manitoba ................................................. Guidelines For Estimating Beef Cow-Calf Production Costs Based on a 150 Head
More informationIMPACT OF SEED STOCK SELECTION ON THE ECONOMICS OF A COW-CALF OPERATION
IMPACT OF SEED STOCK SELECTION ON THE ECONOMICS OF A COW-CALF OPERATION Timothy D. Hewitt and John Holt North Florida Research and Education Center University of Florida, Marianna; and Food and Resource
More information2017 Trends in Nebraska Farmland Markets: Declining Agricultural Land Values and Rental Rates
University of Nebraska - Lincoln DigitalCommons@University of Nebraska - Lincoln Cornhusker Economics Agricultural Economics Department 2017 2017 Trends in Nebraska Farmland Markets: Declining Agricultural
More informationThe Iowa Pork Industry 2008: Patterns and Economic Importance by Daniel Otto and John Lawrence 1
The Iowa Pork Industry 2008: Patterns and Economic Importance by Daniel Otto and John Lawrence 1 Introduction The Iowa pork industry represents a significant value-added activity in the agricultural economy
More informationPuerto Rico - Various
United States Department of Agriculture National Agricultural Statistics Service Puerto Rico Various Agricultural Statistics 2011 Summary April 2012 ISSN: 21548692 Summary Milk production decreased 1
More informationSanta Claus rally could help corn Be ready to sell brief rallies when they come By Bryce Knorr, senior grain market analyst
Santa Claus rally could help corn Be ready to sell brief rallies when they come By Bryce Knorr, senior grain market analyst Rallies are always possible in corn, even in down markets. Trouble is, they don
More informationThe University of Georgia
The University of Georgia Center for Agribusiness and Economic Development College of Agricultural and Environmental Sciences The Economic Potential of Ethanol Production From Sweet and Irish Potatoes
More informationDifferences Between High-, Medium-, and Low-Profit Cow-Calf Producers: An Analysis of Kansas Farm Management Association Cow-Calf Enterprise
Differences Between High-, Medium-, and Low-Profit Cow-Calf Producers: An Analysis of 2011-2015 Kansas Farm Management Association Cow-Calf Enterprise Dustin L. Pendell (dpendell@ksu.edu) and Kevin L.
More informationCattle & Beef Outlook
Cattle & Beef Outlook Glynn Tonsor Dept. of Agricultural Economics, Kansas State University Overarching Beef Industry Economic Outlook Supplies Expansion continues, but has moderated Demand Mixed signals
More informationIowa Farm Outlook. February 2015 Ames, Iowa Econ. Info Takeaways from the January Cattle Inventory Report
Iowa Farm Outlook 0BDepartment of Economics February 2015 Ames, Iowa Econ. Info. 2058 Takeaways from the January Cattle Inventory Report USDA has released the much anticipated inventory of the U.S. cattle
More informationChange FORAGES MORE PEOPLE FORAGES: CHANGE-CHALLENGES- OPPORTUNITIES. Garry D. Lacefield Extension Forage Specialist University of Kentucky
FORAGES: CHANGE-CHALLENGES- FORAGES OPPORTUNITIES Garry D. Lacefield Extension Forage Specialist University of Kentucky Change-Challenges-Opportunities Change Dr. Garry Lacefield Extension Forage Specialist
More information2015 Cost of Potato Production Study for Colorado s San Luis Valley With Comparison to 2014
2015 Cost of Potato Production Study for Colorado s San Luis Valley With Comparison to 2014 Cost of Production Changes per Acre and Per Hundredweight Per Acre Dollar and Percentage Change in Costs Detailed
More information2015 Missouri FBMA Farm Record Analysis Closeout Procedures
2015 Missouri FBMA Farm Record Analysis Closeout Procedures Bruce Fowler Farm Business Management Specialist University of Missouri 116 Gentry Hall Columbia, MO 65211-7040 573-882-7379 1 INTRODUCTION This
More informationControlling Feed Costs: Focusing on Margins Instead of Ratios
Controlling Feed Costs: Focusing on Margins Instead of Ratios Greg Bethard, Ph.D. DRMS G&R Dairy Consulting, Inc Blacksburg, VA 276-637-6501 Phone; 276-637-6506 Fax greg.bethard@gmail.com Feed costs are
More information2017 Beef Cattle Market Outlook
2017 Beef Cattle Market Outlook Chris Prevatt Livestock and Forage Economist UF/IFAS Range Cattle Research and Education Center Presented at the 2015 UF Beef Cattle Short Course Presented at the 2015 UF
More information