Dryland Bermuda Enterprise Budget - Hay Only 1000 acres farmed, 160 acres for this budget. OSU Name. OKLAHOMA COOPERATIVE Farm Description
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1 Dryland Bermuda Enterprise Budget - Hay Only 1000 acres farmed, 160 acres for this budget OSU Name OKLAHOMA COOPERATIVE Farm Description EXTENSION SERVICE Total PRODUCTION Units Price Quantity $/Acre Hay Sales Tons $ $ Other Income Acre $ - 0 $ - Total Receipts $ OPERATING INPUTS Units Price Quantity $/Acre Establishment Acre $ $ Fertilizer Acre $ $ Custom Harvest Acre $ - 0 $ - Pesticide Acre $ $ 3.42 Annual Operating Capital Dollars 6.75% $ 1.58 Machinery Labor Hrs. $ $ Equipment Labor Hrs. $ $ 0.45 Custom Hire Acre $ $ 3.50 Machinery Fuel, Lube, Repairs Acre $ $ Equipment Fuel, Lube, Repairs Acre $ $ 0.94 Other Expense Acre $ - 0 $ - Total Operating Costs $ Returns Above Total Operating Costs $ (25.05) FIXED COSTS Units Rate $/Acre Machinery/Irrigation Interest at Dollars 6.50% $ Taxes at Dollars 1.00% $ 4.52 Insurance Dollars 0.60% $ 1.90 Depreciation Dollars $ Equipment Interest at Dollars 6.50% $ 1.52 Taxes at Dollars 1.00% $ 0.47 Insurance Dollars 0.60% $ 0.14 Depreciation Dollars $ 1.87 Land $/acre $ - Interest at Dollars 0.00% $ - Taxes at Dollars 0.00% $ - Total Fixed Costs $ Total Costs (Operating + Fixed) $ Returns Above All Specified Costs $ (94.50) Creek County - Northeast OK Custom field work Owner-Operator Used machinery complement Hay Break-Even (B-E) Analysis B-E Yield at $/ton B-E Price at ton/acre 2.16 Above Operating Costs (tons) 2.72 Above Operating Costs $ Above Total Costs (tons) 4.26 Above Total Costs $ Break-even yield is the yield needed to cover costs given the expected price and any other income. Break-even price is the price needed to cover costs given the expected yield and other income. File name: PerennialForage2.0 OSU Agricultural Economics Enterprise Budget Software 4/7/ :28 AM
2 You can specify the yield and price for your enterprise or use the default values for the area you selected. Additional forage production adjustments may be made by clicking on the Forage Info button. Values for your operation may be determined by clicking on the Field Info button. Yield Est. Harvest Sales Weighted Bermuda Area tons/acre Price ($/ton) Information Avg. Price Default State 2.16 $ $ Month(s) Your Value $ File name: PerennialForage2.0 OSU Agricultural Economics Enterprise Budget Software 4/7/ :28 AM
3 Additional production adjustments and, if grazed, forage utilization adjustments may be made by clicking on the Adjust Forage Production button. In a pasture situation, determine the pasture value by clicking on the Pasture Value button. Production Information for Bermuda Annual production (lbs./acre) 3,600 Area of State Adjustment 120% Land Quality Adjustment 100% Adjusted Annual Production 4,320 File name: PerennialForage2.0 OSU Agricultural Economics Enterprise Budget Software 4/7/ :28 AM
4 Yield Calculated Below 1.69 Price Received Calculated Below $ You can choose the default annual yield and price or you can use the worksheet below to estimate your average yield and price based on your past experience with the forage selected. Total Total Price Total Average Size Cutting Tons Tons Received Dollars Tons/ Yield Field (Acres) Number Produced Sold /Ton Received Acre /Field $ $ 3, $ $ 3, $ $ 2, $ $ 2, $ $ 1, $ $ 1, $ $ 1, $ $ 1, Average Price Per Ton Received $ Average Yield 1.69 File name: PerennialForage2.0 OSU Agricultural Economics Enterprise Budget Software 4/7/ :28 AM
5 Since perennial forage is a multi-year crop, establishment costs will need to be allocated (averaged) over the expected stand-life in years. Total establishment cost will vary widely around the state depending on the needs of local fields and forage types. Estimates may run from less than $75/acre to over $200/acre. Below is a cost summary representing several basic cultural practices for forage establishment. You may use the specified costs or make changes by clicking on the production input in question. Forage Establishment Summary Fertilizer Lime Seed Pesticide Custom Hire Machinery Equipment Irrigation Other Expenses Total cost/acre Prorated cost/acre Per Acre Owner Cost Share $ $ $ $ $ 9.02 $ 9.02 $ $ $ 2.71 $ 2.71 $ $ $ $ File name: PerennialForage2.0 OSU Agricultural Economics Enterprise Budget Software 4/7/ :29 AM
6 Specify any other income not accounted for in other sections. Include a description, the month the income will be received, and the income per acre. Other Month of Income Income Income per Acre Total Other Income: $ - File name: PerennialForage2.0 OSU Agricultural Economics Enterprise Budget Software 4/7/ :29 AM
7 A default fertilizer application has been specified but can be modified to match your operation. Double-click anywhere in the fertilizer table yellow cells for a pop-up screen with fertilizer information. Adjust the fertilizer mixes and amounts to approximately meet the nitrogen (N), phosphorus (P), and potassium (K) requirements. The Fertilizer Calc button may be used to ensure N requirements are met using the fertilizer listed on the first line in the table below Annual Month to Lbs. Applied Acreage Percent Percent Percent Price Custom App. Fertilizer Fertilizer Apply per Acre Applied N P K per Ton Charge Price/Lb. Ammonium Nitrate % 0% 0% $ $ - $ Ammonium Nitrate % 0% 0% $ $ - $ $ - $ - $ - $ - $ - $ - Pounds/acre applied Pounds of N/acre present per soil test results Estimated pounds N, P and K required Fertilizer cost/budget acre $29.70 Custom application cost/budget acre $ - File name: PerennialForage2.0 OSU Agricultural Economics Enterprise Budget Software 4/7/ :30 AM
8 The button labeled "Forage Operations" can be used to determine values for forage hay harvest o Harvest Operation Cutting Raking Baling Hauling Owned/ Equipment Number of Per Acre Per Ton Large Round Custom Type Operations Cost Cost Bale Cost Owned Pull type 4 $ $ $ 9.89 Owned Side delivery 1 $ $ $ 6.24 Owned Large Round 4 $ $ $ Owned $ $ 6.67 $ 4.00 Total Harvest Cost $ $ $ For more information: CR-205 Oklahoma Farm and Ranch Custom Rates F-1716 Round Bale Hay Storage View these and other OSU Publications at: File name: PerennialForage2.0 OSU Agricultural Economics Enterprise Budget Software 4/7/ :30 AM
9 Default pesticide practices have been specified. You can use the defaults or specify your own pesticide applications. Double-click anywhere in the pesticide table yellow cells to access a list of default pesticides. Month to Application Units Acreage Cost Custom App. Cost of Total App. Pesticide Apply Unit per Acre Applied per Unit Charge Chemical Cost 2,4-DLV ester 5 Pint $ 2.28 $ 3.50 $ 3.42 $ 6.92 Total cost per budget acre $ 3.42 $ 6.92 For more information: F-322 Pesticide Recordkeeping Requirements for Crop Production F-2559 Tall Fescue Establishment and Management F-2571 Cool Season Annual Forage Grasses F-2578 Management of Native Hay Meadows F-2581 Seeding Marginal Cropland to Perennial Grasses F-2587 Bermudagrass for Grazing or Hay F-2869 Management Strategies for Rangeland and Introduced Pastures F-3020 Production and Management of Old World Bluestems. View these and other OSU Publications at: For information on Ag Product Labels and Material Safety Data Sheets, see: File name: PerennialForage2.0 OSU Agricultural Economics Enterprise Budget Software 4/7/ :30 AM
10 Parameter Settings - Listed below are typical estimates for labor, fuel, interest rates and other items used in the budget calculations. You can use the defaults or specify values to be used in the "Your Value" column. Your Parameter Settings Default Value Typical wage rate paid for labor $ 7.50 Average fuel price (Diesel) $ 1.00 Interest rate charged on operating capital (operating loan) 6.75% Interest rate charged on machinery loans 6.50% Percent taxes on machinery purchase price 1.00% Percent insurance on machinery average value 0.60% Annual capital month 8 Opportunity interest rate charged on land capital 0.00% Percent ad valorem tax rate on land 0.00% Per acre average value for land $ - Percent of taxes and desired rate of return assigned to for 25% File name: PerennialForage2.0 OSU Agricultural Economics Enterprise Budget Software 4/7/ :31 AM
11 Non-Harvest Machinery Costs Default costs are representative for the farm size/organization and the machinery complement you initially specified, the level of custom service selected, and include non-harvest operations only. Any changes you make in the "Your Value" column will be used instead of the default value. Your Default Value Variable costs ($/acre) Fuel $ 0.57 Lube $ 0.09 Repairs $ 1.33 Total $ 1.98 $ 1.98 Fixed costs ($/acre) Depreciation $ 0.87 Insurance $ 0.05 Taxes $ 0.13 Interest $ 0.58 Total $ 1.63 $ 1.63 Hours of labor (Hrs/Acre) 0.10 Select the appropriate machinery Use Owned Equipment Use Custom Work Only Use Owned Equipment and Custom Fertilizer Operations Pesticide Operations Planting Operations All Other Operations Owned Custom Tractor #1 (hp) Tractor #2 (hp) Tractor #3 (hp) Labor costs per acre Total owned machinery costs Total custom machinery costs Total machinery costs $ 0.77 $ 0.77 $ 4.38 $ 4.38 $ 3.50 $ 7.88 For additional information, see: CR-205 Oklahoma Farm and Ranch Custom Rates View these and other OSU Publications at: File name: PerennialForage2.0 OSU Agricultural Economics Enterprise Budget Software 4/7/ :32 AM
12 Specified monthly field operations, machinery implement, and custom rate costs (see comment box for more information) Machinery Times Custom Cost/per Description Over Cost Operation Offset Disc - $ - $ 7.78 Chisel - $ - $ 5.93 Anhy. App. - $ - $ 6.97 Sweep Plow - $ - $ 5.79 M.B. Plow - $ - $ Field Cultivator - $ - $ 5.00 Cultipacker - $ - Tandem Disk - $ - $ 6.18 Springtooth - $ - $ 4.63 S. Harrow - $ - $ 4.04 Drill - $ - $ 5.60 Planter - $ - $ 6.97 Cultivator - $ - $ 6.60 Rotary Hoe - $ - $ 3.88 Sprayer - $ - $ 3.50 S. Shreader - $ - $ 9.88 Dry Fert. Spdr $ 6.04 $ 3.02 Windrower - $ - Baler - $ - - $ - Operations/Month All Custom Cost $ 3.02 $ - $ 3.02 $ - Total $ 6.04 $ - File name: PerennialForage2.0 OSU Agricultural Economics Enterprise Budget Software 4/7/ :32 AM
13 Equipment Costs You will need to specify the following costs based on equipment items utilized in your operation. Default costs are based on a specified equipment inventory list. You may also make any necessary changes in the "Your Value" column. Your Default Value Variable costs ($/acre) Fuel/Lube $ - Repairs $ 0.94 Total $ 0.94 $ 0.94 Fixed costs ($/acre) Depreciation $ 1.87 Insurance $ 0.14 Taxes $ 0.47 Interest $ 1.52 Total $ 4.01 $ 4.01 Hours of labor 0.06 Labor costs per acre $ 0.47 $ 0.47 Total equipment costs $ 5.41 $ 5.41 File name: PerennialForage2.0 OSU Agricultural Economics Enterprise Budget Software 4/7/ :32 AM
14 Specify the equipment items that are owned and used on the acreage assigned to this forage budget. Double-click anywhere in the yellow cells for a pop-up screen with equipment information. Equipment Inventory Equipment Number of Purchase Useful Salvage Repair % Fuel/lube% Annual Hrs Proportion Item Units Price Life Value of Cost of Cost Labor Charged File name: PerennialForage2.0 OSU Agricultural Economics Enterprise Budget Software 4/7/ :32 AM
15 Specify the fence types that are owned and used on the acreage assigned to this forage budget. Several default items have been specified, but can be modified to match your operation. Double-click anywhere in the yellow cells for a popup screen with fencing system information. Fence Length Construction Useful Salvage Repair % Annual Hrs Proportion Type in Miles Cost/100 ft Life Value of Cost Labor Charged 5-W BARB FENCE 2 $ $ - 50% % File name: PerennialForage2.0 OSU Agricultural Economics Enterprise Budget Software 4/7/ :32 AM
16 The default information is based on the irrigation system (three center pivot choices and a side roll) and power source selection. To view the line-items for the default calculations, click the Irrigation Details button. Any changes you make in the "Your Value" column will be used instead of the default value. Will this crop be irrigated (check "Irrigated" box if yes)? Irrigated Type of Irrigation System: CP: Low Drift Nozzles Pump Power Source: Natural Gas Your Irrigation Costs Default Value Application Efficiency Inches of water required by crop Inches provided by rainfall Inches required from irrigation - Inches required with efficiency - Variable Cost ($/acre) Cost per acre inch of water Percent of cost related to repairs Total $ - Fixed Cost ($/acre) Depreciation Insurance Taxes Interest Total $ - Hours of irrigation labor per acre 0.00 Labor cost per acre $ - Total irrigation costs $ - Your Monthly Water Application Default Value January - February - March - April - May - June - July - August - September - October - November - December - Annual Total: 0.00 Your specified annual value: 0.00 File name: PerennialForage2.0 OSU Agricultural Economics Enterprise Budget Software 4/7/ :32 AM
17 Specify any other expense not accounted for in other sections. Include a description, the month the expense will be incurred, and the cost per acre. Other Month of Cost Expense Expense per Acre Total Cost: $ - File name: PerennialForage2.0 OSU Agricultural Economics Enterprise Budget Software 4/7/ :33 AM
18 <<ENTERPRISE BUDGET WORKSHEET>> NAME: DATE: FIELD: File: PerennialForageIffs EDryland Bermuda Enterprise Budget - Hay Only Number of acres: 160 Quantity stored: 0 tons Acres harvested 160 Yield: tons/acre 2.16 tons Price: per ton $ /ton Percent change in costs 0.00 % Operator's share % Interest rate 6.75 % Error Check 0 PER UNIT TOTAL JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC << OPERATING RECEIPTS >> Livestock sales: Description unit price quan > - - > - - > - - > - - Crop sales: Description unit price quan > Hay ton , , > - - > Government payments (totals) - - > Other farm income (totals) - - > Pasture lease (totals) - - TOTAL CASH OPERATING RECEIPTS , , << OPERATING EXPENSES >> Custom Hire (machine work) Feed Purchased - - Fertilizer, Lime, Chemicals , , , Freight, Trucking - - Fuel, Lubricants , Insurance - - Labor Hired , Rents - - Repairs, Maintenance , , , Seeds, Plants - - Storage, Warehousing - - Supplies - - Taxes - Ad Valorem - - Utilities - - Veterinary, Medicine - - Miscellaneous Livestock purchased for resale Description unit price quan > - - > - - TOTAL CASH OPERATING EXPENSES , ,853 2,765 4,705 1,693 1, NET OPERATING (Rec - Exp) (18) (18) (18) (18) (3,853) (2,765) (4,705) (1,693) 13,859 (18) (18) (18) Operating interest expense Net Operating After Interest (19) (19) (19) (19) (3,876) (2,802) (4,769) (1,767) 13,859 (18) (18) (18) Contribut'n to Other Enterprise Contribut'n of Other Enterprise Net after contribution (19) (19) (19) (19) (3,876) (2,802) (4,769) (1,767) 13,859 (18) (18) (18) Land or Other Fixed Charges , Net After Other Charges (66.23) (10,598) (945) (945) (945) (945) (4,802) (3,728) (5,695) (2,693) 12,933 (944) (944) (944) File name: PerennialForage2.0 OSU Agricultural Economics Enterprise Budget Software 4/7/ :33 AM
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