EAST LANSING, Mich. — Enterprise budgets estimate profitability for agricultural enterprises. They also document management practices and the resources or technology used in those enterprises.
Michigan State University Extension’s Organic Grain Crop Enterprise Budgets provide estimates of returns and selected costs. These are for a variety of certified organic grain crop enterprises produced in central and southern Michigan.
These budgets can be used for three main purposes:
- Budgeting and planning on farms that lack their own cost or performance data. This may be because the enterprise is new to the farm or farm records are inadequate.
- Verification of a farm’s own historical data as they use their own information to plan ahead.
- Benchmarking of individual production costs.
Each budget was generated based on a specific set of production assumptions. These are stated in the budget footnotes. The choice of each “typical” production system may not be appropriate for your intended use. However, it is hoped that the assumptions for each budget are clear. This is so that individual practices can be added or removed to better model specific circumstances. Access to historical records or other farm specific information will enhance the use of these budgets in decision-making.
Microsoft Excel is required to use these budgets.
Download the tool here: Organic Grain Crop Enterprise Budgets.
— Robert Battel, Michigan State University
For more news from Michigan, click here.