The Food and Agricultural Policy Research Institute (FAPRI) at the University of Missouri just completed a three year Beginning Farmer and Rancher Development program grant that focused on farm level risk management strategies. The Farm Cost and Return Tool (CART), an online application that allows users to develop five year, whole-farm budgets by enterprise was developed. The web tool can provide a very quick budget for a selected location, customized budgets for a particular farmer or ranchers operation, and provides a resource to aid in agricultural decisions.
The Farm CART leverages the strength of the FAPRI baseline and USDA data. The user is presented with a whole farm budget for the next five years after selecting a location and the commodities on the farm or ranch. The tool was developed to help farmers and ranchers look at the costs and returns associated with producing traditional commodities. The Farm CART can be used by beginning farmers and ranchers to decide which commodities to produce and how to structure their farming operation. Furthermore, the tool can also be used by established farmers and ranchers to obtain a five year financial outlook of their farm or ranch.
Additionally, the Farm CART allows the user to ask “what if” questions about his or her farm or ranch. Alternative scenarios, such as changes in the size and structure of the operation, can be compared with the current operation to evaluate the benefits and costs of possible changes in the operation.
|Conference||2013 Extension Risk Management Education National Conference|
|Presentation Type||30-Minute Concurrent|