2021 Crop Budgets and the New Agricultural Budget ...

2021 Crop Budgets and the New Agricultural Budget Calculator Program

Glennis McClure Agricultural Economist

gmcclure3@unl.edu 402-472-0661

Today's Presentation

vWhy is it important to know your cost of production? vUNL Crop Budgets

- 2021 Updates - Components of the crop budgets vKey data utilized in enterprise budgeting vThe New Ag Budget Calculator Program (ABC)

FARM.UNL.EDU

?UNL CROP BUDGETS ?UNL LIVESTOCK BUDGETS ?UNL CUSTOM RATES REPORT

Know Your Cost of Production ? WHY?

Use

In marketing and cost control

Compare Profitability of various enterprises

Determine Production practices and inputs used

Nebraska Crop Budgets

? 83 UNL Crop Budgets Representing 15 crops ? Modify the Budgets using Excel ? Added to New Ag Budget Calculator

cropwatch.unl.edu/budgets

2021 Crop Budget Updates

Fuel Prices ? decreased *Lower machinery operation costs *Lower some material costs herbicides and fertilizer

Some material /products added or use changes

Land prices were adjusted slightly up

RE Tax rate decreased .10% - Nebraska RE Tax Credits

Overhead costs per acre increased $5/acre

Spring Wheat Budget #74 Added

74-Wheat-Spring, Southwest, No Till, Wheat after Row Crop, 40-bushel Yield, Dryland Cash Cost per bushel $4.25 Total Cost per bushel $6.00

Photo by Kai Pilger on Unsplash

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