Conferences
What’s My Cost of Production?
Katie Wantoch and Mariah Beverly
Summary
This question is crucial for producers as they analyze the financials for their operation. However, determining the answer can be challenging. Producers often need to compare price information provided on a per unit of production basis (such as bushel, ton, etc.) to overall costs, which may not always be detailed. Additionally, allocating overhead costs incurred by the operation to the production costs adds another layer of complexity.
The Center for Farm Financial Management (CFFM) has developed a new tool called CropCost. This free, web-based online tool assists producers in evaluating price, yield, and expense information to arrive at a cost of production for each crop. CropCost allows users to quickly and easily allocate overhead expenses appropriately to each crop and provides a scenario analysis showing the breakeven cost of production at varying yields and expenses for each crop.
CropCost is designed for all types of producers, from large-scale commodity producers to smaller, specialty crop producers. Users can choose the cost of production unit used for each crop grown, allowing personalization and flexibility for each operation’s unique needs.
In this presentation, educators will learn about CropCost and how producers can use the information from the analysis as a risk management tool for their operation.
Details
| Conference | 2025 Extension Risk Management Education National Conference |
| Presentation Type | 30-minute Concurrent |