Jan. 28, 2011

The 2011 Crop Production Budgets (EC 872) are now available online at http://www.ianrpubs.unl.edu/sendIt/ec872.pdf and feature costs for 50 production systems. New this year are budgets for pivot- and gravity-irrigated dry beans.

“These budgets really give you an idea of the approximate costs you’ll incur for 2011 and allow you to fine-tune the information to your operation,” said Bob Klein, Extension western Nebraska crops specialist. “For example, if you already bought your seed for 2011, use the column provided to put in your actual cost. Do the same for fertilizers and herbicides you’ve already purchased.”

The budgets include average costs, based on statewide surveys taken in September.  Some prices may have changed slightly since then, Klein said, so use known costs whenever possible to customize your budgets.

“Once you know your cost of production, you can look at market prices and possibly lock in a profit now,” he said.

The budgets are currently available as a single publication, EC872. Individual budgets are expected to be available early next week on the Extension Publications website and eventually Excel spreadsheets will be posted to the site.

The 50 budgets are broken down by crop: alfalfa (7), corn (13), dry bean (3), grain sorghum (4), grass hay (2), oats (1), pastures (1), millet (1), sorghum-Sudan (1), soybeans (8), sugar beets (2), sunflower (2), and wheat (5). Each budget consists of five sections: system description, representative field operations, materials and services, operations and interest, and overhead costs including real estate taxes and opportunity charges.Tables of power, machinery, labor, and input costs are also included.

Budgets are presented in a worksheet format and include a column for users to input their own data to create a customized budget for their operation.

Lisa Jasa
CropWatch Editor