MyFarm Crop Management Calculator

Before heading out to Manitoba Ag Days next week, and with Beef & Forage days going on this week, there are a number of recently updated or new tools developed by the MAFRD Farm Management team found on the Business & Economics page of MAFRD’s website: http://www.gov.mb.ca/agriculture/business-and-economics/index.html.

NEW – MyFarm Crop Management Calculator

http://www.gov.mb.ca/agriculture/business-and-economics/financial-management//myfarm.html

  • This tool enables farmers to estimate the annual cash cost of producing field crops on their land. Knowing the cost of production is essential to management, marketing strategy and risk management planning and to giving a farm the best opportunity for overall profitability. A What If? analyzer option calculates how random changes might affect costs, revenues and returns.

MyFarm calculates:

  • marginal returns
  • break even yields
  • break even crop prices on total production and remaining unsold inventory
  • land and machinery cost analysis
  • cash based financial ratios

Key Features:

  • based on guidelines for estimating crop production costs (simple and easy to use)
  • cash production costs on an annual basis (bushel, acre and total farm)
  • can be used for pre-season planning, growing season management and crop marketing before and after the crop is in the bin

Key analysis:

  • cost of production
  • costs per bushel, per acre and total farm
  • gross revenue estimates

Marketing:

  • break even prices and yield
  • average price sold to date
  • break even price on remaining unsold production

Management:

  • fertilizer, seed and grain storage required for the farm
  • operating expense ratio
  • agri-insurance dollar values and coverage estimates
  • average and break even land and machinery payment per acre
There is also A What If? analyzer that calculates how random changes might affect costs, revenues and returns.
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Cost Of Production Budgets Updated & Available!

MAFRD’s Farm Management staff have updated several online Cost Of Production Budgets on the MAFRD Business & Economics webpages at:

Updates for 2016 includes:

CROPS:

  • Crop Production Costs – 2016 (canola, wheat, winter wheat, soybeans, barley, oats, corn, navy beans, flax, sunflowers, peas, fall rye, canary seed, lentils, buckwheat, hempseed)
  • Forage Seed Production Costs – 2016
  • Organic Crop Production Costs – 2016
  • Irrigated Potato Production Costs – 2016

FORAGE:

  • Alfalfa Hay Production Costs – 2016
  • Silage Production Costs – 2016

 

For further information, support and resources, contact the MAFRD Farm Management Team at http://www.gov.mb.ca/agriculture/business-and-economics/farm-business-management-contacts.html

Submitted by:  Pam de Rocquigny, MAFRD Cereal Crops Specialist

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Farm Management Resources Updated

MAFRD’s Farm Business Management staff have updated several online farm financial management resources on the MAFRD Business & Economics webpages at:

Updates include:

For further information, support and resources, contact the MAFRD Farm Business Management Team at http://www.gov.mb.ca/agriculture/business-and-economics/farm-business-management-contacts.html

Submitted by:  Pam de Rocquigny, MAFRD Cereal Crops Specialist

 

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Have a follow-up question?