LINCOLN — The University of Nebraska Testing Ag Performance Solutions (UNL-TAPS) program is an interactive real-life, real-time, farm management competition for profitability and input-use efficiency. Contestants in the competition make decisions on a number of management options for their farm, including expenses and marketing. The results are amplified to represent 3,000 acres. The expected yield average (APH) for all farms is 225 bushels per acre.
Profitability is the difference between revenue and expenses. As a result, UNL-TAPS competitors must reduce costs without sacrificing yield and have an effective marketing strategy. Therefore, multiple combinations of costs and marketing strategies can lead to different profit levels.
This year’s competition results provide evidence that you do not need to be the lowest cost producer and/or the best marketer to survive. If fact, all of the teams were profitable. Three of the five lowest revenue teams did not pre-harvest market any of their crop during the growing season, selling all of their production at harvest.
— Jessica Groskopf, University of Nebraska Extension Educator for Agricultural Economics
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