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Ag SmartMoney Week – Projecting Your Cost of Production for 2024 Using Enterprise Budgeting and ABC
November 10 @ 12:00 pm - 1:00 pm CST
Ag $martMoney Week, Nov. 6-10, 2023, is a program focused on providing education, information, tools, and training for agricultural producers in Nebraska to better manage and improve their operations. Through a collaboration of businesses, financial institutions, not-for-profits, and government agencies, free workshops, tools, resources, and information will be provided via in-person and online meetings. Areas covered include topics related to risk management, estate and transition planning, land leasing and rental rates, human resources, and technology. The goal of this Week will be to provide education, information, and tools for agricultural producers to help with their operations.
As profit margins are projected to tighten, management risks are on the rise. Lower commodity prices and higher production costs are contributing to the increased risks. The University of Nebraska-Lincoln’s Center for Agricultural Profitability has developed the Agricultural Budget Calculator (ABC) program to guide users in creating enterprise budgets and calculating the cost of production. ABC is a free online resource that provides analysis features useful in planning and risk management. We will discuss the basic steps in developing enterprise budgets and an overview of the analysis features built into the program. Creating ag enterprise budgets is made easy using ABC! Your budgets can be an excellent decision-making resource.
With: Glennis McClure, Extension Educator and Farm & Ranch Management Analyst, University of Nebraska-Lincoln.
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