This presentation will provide an overview of the new University of Nebraska online Agricultural Budget Calculator (ABC). Through virtual workshops, producers are currently learning how to utilize the budget calculator program to create and customize their crop enterprise budgets. One of the first components to enhance the ABC program is a risk exposure module. The purpose of the risk exposure module is to provide additional context to the risky agricultural decision-making environment. The risk exposure module identifies the amount of capital needed if bad revenue (yield and/or price) event is realized. Events that can lead to farm ruin. The module is tailored to the individual producer’s characteristics (i.e., expected yield, production costs, crop insurance contract, location (county), crop and practice). We will explain how the risk module enhances the ABC program by providing a discussion on our approach.
|2021 Extension Risk Management Education National Conference