The 2022 University of Nebraska-Lincoln crop budgets include 84 production budgets for 15 crops as well as information on crop budgeting procedures, standard costs used and a production cost summary. A new strip-till irrigated corn budget, #32 was added for 2022.
The 2022 budget projections were created using assumptions thought to be valid for many producers in Nebraska; however, each farming operation is unique and therefore, the budgets should be used as a guide when creating your own. The budgets are grouped by crop and provided currently in multiple formats including printable pdf files or in Excel. Detailed information on how the budgets were developed, along with machinery and ownership costs, general variables, and material and service pricing are included in the introductory pages 1-12.
The current university crop budgets provide both a cash cost per unit of production and a total cost of production or economic cost per unit for each crop. The cash cost figure does not include the ownership cost of machinery and equipment used in field operations or a real estate opportunity cost, while the total cost figure in the budgets is an economic total cost that includes depreciation and opportunity costs of ownership using the assumption that the operator is a landowner. The crop budgets assume that the operator is the landowner by showing an opportunity cost of ownership.
With the development of the new Agricultural Budget Calculator (ABC) program, rather than using the Excel template, the Nebraska crop budgets can be downloaded in the ABC program and then modified to fit individual farm operation enterprises.
The 2022 crop budgets were developed and edited by Robert Klein, extension western Nebraska crops specialist, and Glennis McClure, extension educator — agricultural economics. Contributing to the budgets in their specialty areas are Robert Harveson and Robert Wright, extension entomologists; Tamra Jackson-Ziems and Stephen Wegulo, extension plant pathologists; Paul Jasa, extension biological systems engineer; Chris Proctor, extension educator — weed management, and Jay Parsons, professor — agricultural economics.
For more information on crop budget contents, contact Robert Klein, 308-696-6705.
To learn more about the budgets and the new Ag Budget Calculator (ABC) program, contact Glennis McClure, 402-472-0661.
Ag Budget Calculator Program
The Agricultural Budget Calculator (ABC) Program makes it possible to download one or more of the Nebraska crop budgets into your own ABC enterprise budgeting account. Using ABC the budgets can be modified to create your custom crop budgets for 2022. Learn more at cap.unl.edu/abc or go directly to the ABC program at agbudget.unl.edu.
The new Agricultural Budget Calculator (ABC) is an enterprise budgeting tool developed by the University of Nebraska–Lincoln Department of Agricultural Economics and the Center for Ag Profitability. ABC is a free online program where farm managers and producers can download UNL’s budgets, then modify them with their own prices of material inputs, field operations, costs of machinery, repairs, labor, and other expenses, plus add their projected revenue to calculate returns above cash and all costs. Cost of production calculations and net revenue projections can be estimated by crop or by field or farm.
Ag Budget Calculator Trainings Scheduled
Online training sessions for new and existing users of the ABC program are scheduled now. For more information and to register, go to: cap.unl.edu/abc/training.