OSU Name. OKLAHOMA COOPERATIVE Farm Description
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1 Dryland Cotton Enterprise Budget 1000 acres farmed, 160 acres for this budget OSU Name OKLAHOMA COOPERATIVE Farm Description EXTENSION SERVICE Total PRODUCTION Units Price Quantity $/Acre Cotton Lint Lbs $ $ Cotton Seed Cwt $ $ Other Income Dollars $ $ Total Receipts $ OPERATING INPUTS Units Price Quantity $/Acre Seed Acre $ $ Fertilizer Acre $ $ 9.14 Custom Harvest Acre $ - 0 $ - Pesticide Acre $ $ Growth Regulators/Harvest Aids Acre $ $ 7.52 Crop Insurance Acre $ $ 9.91 Annual Operating Capital Dollars 6.75% $ 3.54 Machinery Labor Hrs. $ $ Custom Hire Acre $ - 0 $ - Machinery Fuel, Lube, Repairs Acre $ $ Ginning/Processing Acre $ $ Other Expense Acre $ $ 9.85 Total Operating Costs $ Returns Above Total Operating Costs $ (10.03) FIXED COSTS Units Rate $/Acre Machinery/Irrigation $/value Interest at Dollars 6.50% $ Taxes at Dollars 1.00% $ Insurance Dollars 0.60% $ 4.67 Depreciation Dollars $ Land $/acre $ - Interest at Dollars 0.00% $ - Taxes at Dollars 0.00% $ - Total Fixed Costs $ Total Costs (Operating + Fixed): $ Southwest Region (Tillman County) $ (193.78) Tillman County - Southwest OK Owned field - harvest equipment Owner-Operator Used machinery complement Break-Even (B-E) Analysis B-E Yield at $/lb B-E Price at lbs./acre Above Operating Costs (Lbs.) 254 Above Operating Costs $ 0.57 Above Total Costs (Lbs.) 600 Above Total Costs $ 1.36 Break-even yield is the yield needed to cover costs given the expected price, cotton seed income, and other income such as government payments. Breakeven price is the price needed to cover costs given the expected yield, cotton seed income, and other income. File name: Cotton2.0 OSU Agricultural Economics Enterprise Budget Software 4/7/ :05 PM
2 You can specify the yield and price for your enterprise or use the default for the area you selected. To view average lint yields and prices, click on the link below. Cotton Reporting Yield Est. Harvest Harvest Sales Weighted Lint District lb/acre Price ($/lb) Month InformationAvg. Price Default Southwest $ $ 0.53 Month(s) Your Value $ 0.53 Cotton Yield Est. Harvest Sale Seed Area cwt/acre Price ($/cwt) Month Default Southwest 3.99 $ Your Value File name: Cotton2.0 OSU Agricultural Economics Enterprise Budget Software 4/7/ :06 PM
3 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. Use the first two lines for government payments. Other Month of Income Income Income per Acre Direct Payment 11 $ Counter-Cyclical Payment Total Other Income: $ File name: Cotton2.0 OSU Agricultural Economics Enterprise Budget Software 4/7/ :06 PM
4 You can specify the seeding rate, price of seed, and planting date for your enterprise or use the default values. Typical and recommended rates, prices, and planting dates can be viewed by clicking "More Seeding Plant Pop. Seed cost Planting Rate Area (000/acre) $/bag Month Default State $ Your Value File name: Cotton2.0 OSU Agricultural Economics Enterprise Budget Software 4/7/ :06 PM
5 Default fertilizer applications have 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. 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. Dry Fertilizer % 18% 0% $ $ - $ $ - $ - $ - $ - $ - $ - $ - Pounds/acre applied Pounds of N/acre present per soil test results Estimated pounds N, P and K required Fertilizer cost/budget acre Prorated lime cost/budget acre Total cost/budget acre Custom application cost/budget acre $ $ $ $ File name: Cotton2.0 OSU Agricultural Economics Enterprise Budget Software 4/7/ :06 PM
6 Will this crop be harvested using your own equipment or using a custom harvester? Custom Owned Harvest If custom harvest is to be used, you need to specify the costs. Typical custom harvest costs are specified below in the default values. You can make any necessary changes in the "Your Value" specification. Flat rate Cost for per pound hauling Custom Harvest charge. cotton/lb. Default $ 0.09 $ 0.03 Your Value Custom Harvest Per acre charge Hauling cost Total Custom Cost Total Share Cost Per Acre Cost $ $ 7.05 $ $ Owned Harvest Machinery Costs If owned harvest equipment is to be used, you need to specify the following costs. Typical harvest equipment costs (stripper/picker only) are specified below in the default values. Default revisions may be determined by clicking on the "Harvester Cost Estimator" button. You can also make any necessary changes in the "Your Vl " l Your Default Value Variable costs Fuel $ 3.04 Lube $ 0.46 Repairs $ Total $ $ Fixed costs Depreciation $ Insurance $ 3.93 Taxes $ Interest $ Total $ $ Hours of labor $ 0.35 Labor costs per acre $ 2.65 $ 2.65 Total costs $ $ For additional information, see: CR-205 Oklahoma Farm and Ranch Custom Rates View these and other OSU Publications at: File name: Cotton2.0 OSU Agricultural Economics Enterprise Budget Software 4/7/ :07 PM
7 Specify any insurance associated with this crop. Include the premium payment month and the cost per acre. A crop insurance discription may be entered if desired. You may be able to access your policy information from your insurance carrier's web site. Contact your insurance agent for more information. If no insurance is desired, enter zero in the Cost of Insurance. Crop Insurance Specification Approved APH yield Yield coverage level Crop price election Value of coverage $ - Month of Expense 12 Cost of Insurance $ 9.91 For more information: File name: Cotton2.0 OSU Agricultural Economics Enterprise Budget Software 4/7/ :07 PM
8 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 Treflan 3 Pint $ 3.05 $ - $ 4.58 $ 4.58 Caparol 4L 5 Pint $ 3.75 $ - $ $ Vydate LV 6 Lbs. A.I $ $ - $ 6.88 $ 6.88 Total cost per budget acre $ $ For more information: F-322 Pesticide Recordkeeping Requirements for Crop Production F-1215 Selecting the Proper Nozzle Type and Size for Low Pressure Ground Sprayers F-1216 Calibrating a Low Pressure Ground Sprayer F-1217 The Low Pressure Ground Sprayer File name: Cotton2.0 OSU Agricultural Economics Enterprise Budget Software 4/7/ :07 PM
9 Several default growth regulator/harvest aids applications have been specified. You can use the defaults or specify your own applications. Double-click anywhere in the Growth Regulators/Harvest Aids table yellow cells to access a list of default practices. Growth Regulators/ Month to Application Units Acreage Cost Custom App. Cost of Total App. Harvest Aids Apply Unit per Acre Applied per Unit Charge Chemical Cost Pix 8 Oz. Rate 8 Fl.Oz $ 0.94 $ - $ 7.52 $ 7.52 Total cost per budget acre $ 7.52 $ 7.52 File name: Cotton2.0 OSU Agricultural Economics Enterprise Budget Software 4/7/ :09 PM
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 11 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 cotton 100% File name: Cotton2.0 OSU Agricultural Economics Enterprise Budget Software 4/7/ :33 PM
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 $ 8.09 Lube $ 1.21 Repairs $ Total $ $ Fixed costs ($/acre) Depreciation $ Insurance $ 0.74 Taxes $ 1.92 Interest $ 8.04 Total $ $ Hours of labor (Hrs/Acre) 1.49 Tractor #1 (hp) 160 Tractor #2 (hp) 95 Tractor #3 (hp) Labor costs per acre $ $ Total owned machinery costs $ Total custom machinery costs Total machinery costs $ $ - $ For additional information, see: CR-205 Oklahoma Farm and Ranch Custom Rates View these and other OSU Publications at: Select the appropriate machinery Use Owned Equipment Use Custom Work Only Use Owned Equipment and Custom Owned Fertilizer Operations Pesticide Operations Planting Operations All Other Operations Custom File name: Cotton2.0 OSU Agricultural Economics Enterprise Budget Software 4/7/ :33 PM
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 $ 7.09 $ 7.09 Chisel $ 5.14 $ 6.42 Anhy. App. - $ - $ 5.27 Sweep Plow - $ - $ 6.60 M.B. Plow $ 2.34 $ Field Cultivator $ 5.12 $ 5.12 Cultipacker - $ - Tandem Disk - $ - $ 6.28 Springtooth $ 6.03 $ 6.03 S. Harrow - $ - $ 4.12 Drill - $ - $ 6.81 Planter $ 8.50 $ 7.08 Cultivator $ $ 6.60 Rotary Hoe $ 4.25 $ 4.25 Sprayer $ $ 3.27 S. Shreader $ 9.88 $ 9.88 Dry Fert. Spdr $ 2.56 $ 2.56 Windrower - $ - Baler - $ - - $ - Operations/Month Custom Cost/Month $ 7.09 $ 7.48 $ 8.39 $ 8.59 $ $ 9.87 $ 6.60 $ 3.27 $ - $ 9.88 Total $ File name: Cotton2.0 OSU Agricultural Economics Enterprise Budget Software 4/7/ :33 PM
13 The default information is based on the irrigation system (three center pivot choices, Altus- Lugert irrigation district, surface-furrow, 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: Altus-Lugert District 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 Water district charge/acre $ - 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 gross annual value: 0.00 File name: Cotton2.0 OSU Agricultural Economics Enterprise Budget Software 4/7/ :34 PM
14 Post-Harvest Expense - Listed below are costs for post-harvest cotton. You can use the defaults specified or make adjustments in the "Your Value" column. Your Month of Cost Post-Harvest Expense Per Bale Default Value Expense Per Acre Hauling $ $ 3.29 Ginning Costs $ $ Classing $ $ 0.61 Freight to warehouse and insurance $ $ 1.64 Bale wrap $ $ 3.52 Warehouse receiving and storage $ $ 3.99 Cotton, Inc. and National Cotton Council promotion $ $ 0.47 Total Costs $ File name: Cotton2.0 OSU Agricultural Economics Enterprise Budget Software 4/7/ :34 PM
15 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 Boll Weevil Eradication 11 $ 9.85 Total Cost: $ 9.85 File name: Cotton2.0 OSU Agricultural Economics Enterprise Budget Software 4/7/ :34 PM
16 ENTERPRISE BUDGET WORKSHEET NAME: DATE: FIELD: File: CottonIffs Enterprise: Dryland Cotton Enterprise Budget (lint) (seed) Number of acres: Qty. lint stored: 0 lb. Acres Harvested Qty. seed stored: 0 cwt. Yield: lb/ac 3.99 cwt/ac Price: $ 0.53 /lb $ 4.86 /cwt Percent change in costs 0.00 % Operator's share % 100 % Interest rate 6.75 % Error Check 0 Interest Starting Month: January PER UNIT TOTAL JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC << OPERATING RECEIPTS >> Livestock sales: Description unit price quan > - 0 > - 0 > - 0 > Crop sales: Description unit price quan > Cotton lint lb , , > Cottonseed cwt , , > Government payments (totals) , , > Other farm income (totals) - - > (totals) - TOTAL CASH OPERATING RECEIPTS , , << OPERATING EXPENSES >> Custom Hire (machine work) - - Feed Purchased - - Fertilizer, Lime, Chemicals , , , , , Freight, Trucking - - Fuel, Lubricants , , Insurance , , Labor Hired , , Rent - - Repairs, Maintenance , , Seeds, Plants , , Storage, Warehousing - - Supplies - - Taxes - Ad Valorem - - Utilities - - Veterinary, Medicine - - Miscellaneous , , Ginning & Processing , , Livestock purchased for resale Description unit price quan > - - > - - TOTAL CASH OPERATING EXPENSES , ,268 2,012 4,778 1, , ,524 2,217 NET OPERATING (Rec - Exp) (6.49) (1,038) (453) (478) (1,268) (2,012) (4,778) (1,731) (422) (1,412) ,732 (2,217) Operating interest expense Net Operating After Interest (9.21) (1,473) (456) (483) (1,280) (2,035) (4,828) (1,792) (484) (1,483) (71) (71) 13,732 (2,223) Contribut'n to Other Enterprise 0 Contribut'n of Other Enterprise Net after contribution (9.21) (1,473) (456) (483) (1,280) (2,035) (4,828) (1,792) (484) (1,483) (71) (71) 13,732 (2,223) Land or Other Fixed Charges ,400 2,450 2,450 2,450 2,450 2,450 2,450 2,450 2,450 2,450 2,450 2,450 2,450 Net After Other Charges (192.96) (30,873) (2,906) (2,933) (3,730) (4,485) (7,278) (4,242) (2,934) (3,933) (2,521) (2,521) 11,282 (4,673) File name: Cotton2.0 OSU Agricultural Economics Enterprise Budget Software 4/7/ :35 PM
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