Livestock Enterprise Budgets for Iowa — 2008
Ag Decision Maker
File B1-21
This publication contains estimates of production costs for common livestock enterprises in Iowa. Estimates are intended to reflect average or above-average levels of management using common types of technology. Input prices reflect expected average price levels during the year. Data were drawn from farm record summaries, feed consumption research and price projections, and are intended to be used for planning purposes only. For individual farms, expected costs and input requirements based on past results should be substituted whenever possible. Each budget contains estimates of the following types of costs:
Fixed Costs. Costs that will occur regardless of the level of production each year. They generally include such things as depreciation, interest, taxes, and insurance on facilities, breeding livestock, and livestock equipment and facilities. Depreciation is assumed to be 8% of the original value of facilities and equipment annually. Interest averages 1/2 the original value of facilities over its lifetime, or 5% annually. Taxes and insurance add 1% for a total of 14% of the original investment annually for fixed costs. Variable Costs. Costs that vary according to the level of production. Interest is calculated on feed and other variable costs for one-half the production period.
FM 1815 Revised March 2008
Page 2
Livestock Enterprise Budgets for Iowa - 2008
The budgets in this publication are based on the following price assumptions for inputs: Price $4.35 39.00 125.00 85.00 33.80 35.00 50.00 0.17 0.06 0.03 0.15 0.45 0.30 0.16 43.50 150.00 0.18 0.14 0.18 0.35 47.00 1.05 1.12 1.06 1.20 9.00% Units bushel ton ton ton ton acre acre pound pound pound pound pound pound pound ton ton pound pound pound pound head pound pound pound pound year
Corn Corn silage Alfalfa hay Alfalfa-brome hay Haylage Unimproved pasture Improved pasture Soybean meal (48%) Dried distiller grain Modified distiller grain Lamb supplement/mineral Sow & pig vitamin/mineral Hog vitamin/mineral Beef supplement/mineral Dairy corn silage Dairy Hay equivalents Dairy supplement Dairy salt and mineral Dairy cottonseed Dairy fat Feeder pig (50 lbs) Yearling steer (700-800 lbs) Steer calf (500-600 lbs) Heifer alf (400-500 lbs) Feeder lamb (70 lbs) Operating capital
. . . and justice for all The U.S. Department of Agriculture (USDA) prohibits discrimination in all its programs and activities on the basis of race, color, national origin, gender, religion, age, disability, political beliefs, sexual orientation, and marital or family status. (Not all prohibited bases apply to all programs.) Many materials can be made available in alternative formats for ADA clients. To file a complaint of discrimination, write USDA, Office of Civil Rights, Room 326-W, Whitten Building, 14th and Independence Avenue, SW, Washington, DC 20250-9410 or call 202-720-5964. Issued in furtherance of Cooperative Extension work, Acts of May 8 and June 30, 1914, in cooperation with the U.S. Department of Agriculture. Jack M. Payne, director, Cooperative Extension Service, Iowa State University of Science and Technology, Ames, Iowa. File Code Economics 1-8
Prepared by Shane Ellis, extension specialist (515) 294-8030, shanee@iastate.edu William Edwards, extension economist (515) 294-6161, wedwards@iastate.edu John Lawrence, extension economist (515) 294-6290, jdlaw@iastate.edu, and Ann Johanns, extension program specialist (641) 732-5574, aholste@iastate.edu
www.extension.iastate.edu/agdm www.extension.iastate.edu/store
Livestock Enterprise Budgets for Iowa - 2008
Page 3
Livestock Enterprise Summary
Tons of Modified Distiller Grain Tons of Silage 0 0 0 0 0 0 1.1 0 1.7 0 1.1 0 0 0 0 0 0 0 8.0 8.0 Tons of Dried Distiller Grain 267 288 32 0 32 Tons of Hay a/ 0 0 0 0 0 0.25 0 0.40 0 0.25 0 0.50 0 2.10 2.50 0.4 0.3 0.02 6.1 6.0 Labor Hours Bu. of Corn 97 105 9 17.1 9.8
Page 6 6 7 8 9
Enterprise
Unit
Swine Farrow-finish, pasture litter Farrow-finish, total confinement litter Finishing feeder pigs head Weaned pig prod., total confinement litter Finishing weaned pigs, tot. confinement head Beef
12 6 0.2 3 0.7
0 0 0 0 0
11 11 12 12 13 13 14 14 15 15
Yearling steers, hay Yearling steers, silage Steer calves, hay Steer calves, silage Yearling heifers, hay Yearling heifers, silage Backgrounding steer calves, winter Backgrounding steer calves, summer Cow-calf, calves sold Cow-calf, calves fed Sheep
head head head head head head head head cow unit cow unit
2 2 3 3 2 2 1.25 1 8 10
50 41 52 38 50 41 27 0 4 64
0.95 0.95 1.05 1.05 0.95 0.95 0 0 0 1.05
0 0 0 0 0 0 0 0 0 0
17 17 19
Ewe flock, early lambs Ewe flock, late lambs Feeder lamb Dairy
ewe unit ewe unit head
5 3 1
10 8 5.2
0 0 0
0 0 0
21 21
a/
20,000 lbs milk/cow 24,000 lbs milk/cow
cow unit cow unit
70 70
104 113
0 0
0 0
Does not include pasture.
Page 4
Livestock Enterprise Budgets for Iowa - 2008
Swine Production Investment
1. Breeding herd investment per litter Pasture Sow in herd $155 78 Replacement gilts ($155 each) 0.50 head Total investment per sow $233 Total investment per litter (1.9 & 2.2 litters per year per sow) $122 Confinement $155 43 0.28 head $198 $90
2. Cost Estimates (Building and equipment replacement cost) Pasture Use Structure Type Cost per space Farrowing Pasture A-frame huts $300 Gestation Portable on pasture $150 Nursery Finishing Barn with raised decks Drylot or pasture $50 $30
Confinement a/ Structure Type Cost per space Enclosed confinement with crates $1,000 Raised deck with pit Double curtain $112 $200
3. Facilities, equipment and machinery investment for farrow to finish ($ per litter) Pasture $300 / 2 lit/yr/hut = $150 / 1.9 lit/sow = $50 / 2 lit/yr x 7.6 = $30 / 2 lit/yr x 7.1 = Confinement a/ $150 79 190 107 50 25 15 ($18,000 x 25%) 50 lit/yr = 90 $706 14% annually $99 10% annually $1,299 $130 $1000 / 2.2 lit/sow = $112 / 6 lit/yr x 8.8 = $200 / 2.5 lit/yr x 8.5 = $455 164 680
Farrowing Gestation Nursery Finishing Feed Storage Feed Handling Manure Handling Tractor Total Investment Interest, depreciation, taxes, insurance
a/
Farrowing & Gestation are combined for Confinement operations.
Livestock Enterprise Budgets for Iowa - 2008
Page 5
Swine Production Investment (continued)
4. Facilities, equipment and machinery investment for feeder pigs Feeder Pig Production Farrowing & Gestation Building Equipment Nursery Building Equipment Total Feeder Pig Finishing Finishing Building Equipment Total $140 divided by 2.5 head per year = $60 divided by 2.5 head per year = $56 $24 Annually 8% 14% Per litter $38 $28 $66 Per head $4.45 $3.30 $7.75 $545 divided by 2.2 litters per year = $455 divided by 2.2 litters per year = $73 divided by 6 pigs per year = $39 divided by 6 pigs per year = $248 $207 $12 $7 Annually 8% 14% 8% 14% Per litter $20 $29 $8 $8 $65 Per head $2.24 $3.29 $0.96 $0.91 $7.40
5. Estimated feed requirements for farrow-to-finish enterprise, including breeding herd Pigs Per Sow Per Year 14 16 18 20 Bushels of Corn Per Litter 159 179 199 219 Pounds of Soybean meal Per Litter 1,814 2,052 2,290 2,528 Pounds of DDG Per Litter 204 233 262 291
6. Break-even selling price for confinement farrow-to-finish if corn price is: Soybean Corn Meal DDG ($ per bushel) ($ per pound) ($ per pound) 3.50 0.13 0.05 3.75 0.14 0.06 4.00 0.15 0.06 4.25 0.16 0.06 4.50 0.17 0.07 4.75 0.18 0.07 5.00 0.19 0.07
Total Costs $/cwt. 50.44 52.22 53.86 55.51 57.29 58.93 60.58
Variable Costs $/cwt. 43.62 45.39 47.04 48.69 50.46 52.11 53.75
Page 6
Livestock Enterprise Budgets for Iowa - 2008
Swine Production — One Litter
Farrow-to-Finish Pasture Income a/ Market hogs (260 lbs x $________/lb) Cull sows (400 lbs x $________/lb) Gross Income Variable Costs Feed Costs Corn @ $4.35 per bushel Soybean meal @ $0.17 per lb Dried distiller grain @ $0.06 per lb Vitamin & minerals @ $0.45 per lb Vitamin & minerals @ $0.30 per lb Pasture @ $35.00 per acre Feed Additives Total Feed Costs Veterinary and health Fuel, repairs, utilities Bedding, marketing, miscellaneous Interest on variable costs @ 9% Labor @ $14.00 per hour Total Variable Costs Income over Variable Costs Fixed Costs Machinery, facilities Breeding costs, boar/semen Replacement gilts @ $155 head 0.50 head Interest, insurance on breeding herd @ 10% Total Fixed Costs Total of All Costs Income over All Costs Break-even selling price for variable costs per cwt b/ Break-even selling price for all costs per cwt b/
a/
Farrow-to-Finish Total Confinement Quantity 8.50 head 0.25 head $ $ $
Your Farm $ $ $
Quantity 7.3 head 0.5 head
$ $ $
97 943 267 35 95 0.20
bu lbs lbs lbs lbs ac
$421.95 160.31 16.02 15.75 28.50 7.00 22.00 $671.53 $34.00 35.00 45.00 29.46 168.00 $982.99 $
105 1013 288 36 110
bu lbs lbs lbs lbs
$456.75 172.21 17.28 16.20 33.00 25.00 $720.44 $25.00 50.00 30.00 30.95 84.00 $940.39 $
$
$ $
5 months 12 hours
5 months 6 hours
$ $
$99.00 13.00 77.50 12.24 $201.74 $1,184.72 $ $48.10 $58.73
0.28 head
$130.00 13.00 43.40 9.02 $195.42 $1,135.81 $ $40.97 $49.81
$
$ $ $ $ $
For pasture, a weaning average of 8.3 pigs is assumed, minus 0.40 death loss and 0.60 for replacement. For confinement, a weaning average of 9 pigs is assumed, minus 0.5 death loss. Sow death loss is 5%. b/ Cull sow income of $70 per litter is assumed for pasture (sows sold after 2 litters) and $35 per litter for total confinement (sows sold after 4 litters).
Livestock Enterprise Budgets for Iowa - 2008
Page 7
Finishing Feeder Pigs — One Pig
Income Market hog (260 lbs x $________/lb) Variable Costs Feeder pig (50 lb) @ $47.00 per hd Interest @ 9% Feed Costs Corn @ $4.35 per bushel Soybean meal @ $0.17 per lb Dried distiller grain @ $0.06 per lb a/ Vitamin & minerals @ $0.30 per lb Feed processing & delivery @ $10.00 per ton Feed Additives Total Feed Costs Veterinary and medical Fuel, repairs, utilities Marketing, miscellaneous Manure application cost @ $0.01 per gal Interest on variable costs @ 9% Death loss Labor @ $14.00 per hour Total Variable Costs Income over Variable Costs Fixed Costs Machinery, facilities Total of All Costs Income over All Costs Break-even selling price for variable costs per cwt Break-even selling price for all costs per cwt $ $51.03 $54.35 $ Quantity 1 head Your Farm $ $
1 head 5 months
$47.00 1.76
$ $
9 82 32 14.4 0.3
bu lbs lbs lbs tons
$39.15 13.94 1.92 4.32 3.00 3.00 $65.33 $4.00 3.50 4.00 1.90 1.44 0.94 2.80 $132.67
$
$ $
190 2.5 0.02 0.2
gal months head hours
$ $
$8.63 $141.30
$ $ $ $ $
a/
Dried distiller grain substitutes for 0.6 bushels of corn and 5 pounds of soybean meal.
Page 8
Livestock Enterprise Budgets for Iowa - 2008
Swine Production — One Litter Producing Weaned 12 lbs Pigs, Total Confinement
Income a/ Weaned pigs Cull sows Gross Income Variable Costs Feed Costs Corn @ $4.35 per bushel Soybean meal @ $0.17 per lb Vitamin & minerals @ $0.45 per lb Feed processing & delivery @ $10.00 per ton Total Feed Costs Veterinary and medical Fuel, repairs, utilities Marketing, miscellaneous Manure application cost @ $0.01 per gal Interest on variable costs @ 9% Labor @ $14.00 per hour Total Variable Costs Income over Variable Costs Fixed Costs Facilities & equipment Breeding costs, boar/semen Replacement gilts @ $155 head Interest, insurance on sows @ 10% Total Fixed Costs Total of All Costs Income over All Costs Break-even selling price for variable costs per head b/ Break-even selling price for all costs per head b/ $ $17.98 $32.32 $ ($________/head) ($________/head) Quantity 9 head 0.25 hd/litter $ $ $ Your Farm $ $ $
17.1 149 23 0.6
bu lbs lbs tons
$74.39 25.33 10.35 6.00 $116.07 $17.00 7.50 10.00 3.00 3.46 42.00 $199.02
$
$ $
300 gal 3 months 3 hours
$ $
0.28 head 5 months
$66.15 13.00 43.40 6.46 $129.01 $328.03
$
$ $ $ $ $
a/ b/
Assuming an average of 9.0 weaned pigs per litter and all replacement gilts are purchased. Cull sow income of $37.19 per litter is assumed (sows sold after 4 litters).
Livestock Enterprise Budgets for Iowa - 2008
Page 9
Swine Production — One Pig Finishing 12 lb Weaned Pig, Total Confinement
Income Market hog (260 lbs x $_______/lb) Variable Costs Weaned Feeder pig (12 lb) Interest @ 9% Feed Costs Corn @ $4.35 per bushel Soybean meal @ $0.17 per lb Dried distiller grain @ $0.06 per lb a/ Vitamin & minerals @ $0.45 per lb Pre-nursery diet Feed Additives Feed processing & delivery @ $10.00 per ton Total Feed Costs Veterinary and medical Fuel, repairs, utilities Marketing, miscellaneous Manure application cost Interest on variable costs @ 9% Death loss b/ Labor @ $14.00 per hour Total Variable Costs Income over Variable Costs Fixed Costs Facilities & equipment Total of All Costs Income over All Costs Break-even selling price for variable costs per cwt Break-even selling price for all costs per cwt $ $59.56 $64.26 $ Quantity 150 days $30.00 1.11 $ $ Your Farm $ $
9.8 119 32 14.4
bu lbs lbs lbs
$42.63 20.23 1.92 6.48 3.00 3.00 6.75 $84.01 $5.00 4.20 4.00 2.20 1.12 1.50 9.80 $142.94
$
$ $
3 months 0.05 head 0.70 hours
$ $
$11.28 $154.22
$ $ $ $ $
a/ b/
Dried distiller grain substitutes for 0.6 bushels of corn and 5 pounds of soybean meal. Assumed death loss is 5 percent.
Page 10
Livestock Enterprise Budgets for Iowa - 2008
Feed Requirements and Conversion Rates to Carry Hogs from Various Purchased Weights to Various Market Weightsa/
Purchase Feed wt. (lbs) requirements 10 Unit bu Corn lbs Soybean meal lbs DDG lbs Total lbs Conversion lbs/cwt 240 lbs 9.0 506 113 28 647 281 8.7 487 105 28 620 282 8.4 470 98 28 596 284 8.1 451 92 28 571 286 7.9 444 75 28 547 288 7.6 427 69 26 522 290 7.3 408 64 25 497 292 250 lbs 9.6 536 116 30 682 284 9.2 517 109 30 656 285 8.9 500 102 30 632 287 8.6 481 96 30 607 289 8.5 474 78 30 582 291 8.1 455 73 28 556 293 7.8 436 68 27 531 295 260 lbs 10.1 567 119 32 718 287 9.8 547 113 32 692 288 9.4 528 106 32 666 290 9.1 511 100 32 643 292 9.0 503 82 32 617 294 8.6 484 77 30 591 296 8.3 465 72 29 566 298 270 lbs 10.7 599 122 34 755 290 10.3 578 116 34 728 291 10.0 560 110 34 704 293 9.7 541 104 34 679 295 9.6 535 85 34 654 297 9.2 515 81 32 628 299 8.8 495 76 31 602 301 280 lbs 11.3 630 125 36 791 293 10.9 609 120 36 765 294 10.6 591 114 36 741 296 10.2 572 108 36 716 298 10.1 565 89 35 689 300 9.7 545 85 34 664 302 9.4 526 80 33 639 304 290 lbs 11.8 661 129 38 828 296 11.4 641 124 38 803 297 11.1 621 118 38 777 299 10.8 602 112 38 752 301 10.7 597 93 37 727 303 10.3 577 88 36 701 305 9.9 557 84 34 675 307 300 lbs 12.4 697 133 40 870 300 12.1 676 128 40 844 301 11.7 657 122 40 819 303 11.4 638 116 40 794 305 11.3 631 97 39 767 307 10.9 611 92 38 741 309 10.6 591 88 36 715 311
20
bu lbs Soybean meal lbs DDG lbs Total lbs Conversion lbs/cwt Corn bu lbs Soybean meal lbs DDG lbs Total lbs Conversion lbs/cwt Corn bu lbs Soybean meal lbs DDG lbs Total lbs Conversion lbs/cwt Corn bu lbs Soybean meal lbs DDG lbs Total lbs Conversion lbs/cwt Corn bu lbs Soybean meal lbs DDG lbs Total lbs Conversion lbs/cwt Corn bu lbs Soybean meal lbs DDG lbs Total lbs Conversion lbs/cwt Corn
30
40
50
60
70
a/
Feed efficiency varies considerably depending on environmental temperatures, disease level, ration fed, quality of management, and death loss. The feed requirements here are for hogs with good performance under excellent management. These figures assume zero mortality; correction for mortality is made when you complete the worksheet in pages 7 or 9.
Livestock Enterprise Budgets for Iowa - 2008
Page 11
Finishing Yearling Steers — One Head
Corn and Hay Ration Income Steer sales (1,250 lbs x $_______/lb) Variable Costs Yearling feeder cost @ $1.05 per lb Interest @ 9% Feed Costs Corn @ $4.35 per bushel Mid-grade hay @ $85.00 per ton Modified distiller grain @ $55.00 per ton Supplement & minerals @ $0.16 per lb Corn silage @ $39.00 per ton Total Feed Costs Veterinary and health Machinery and equipment Marketing, transport & miscellaneous Interest on variable costs @ 9% Labor @ $14.00 per hour Death loss a/ Total Variable Costs Income over Variable Costs Fixed Costs Machinery, equipment, housing Total of All Costs Income over All Costs Break-even selling price for variable costs per lb Break-even selling price for all costs per lb Quantity 1250 lbs $ Corn and Silage Ration Quantity 1250 lbs $ Your Farm $
750 lbs 5.5 months
$787.50 32.48
750 lbs 5.5 months
$787.50 32.48
$
50 0.25 0.95 100
bu tons tons lbs
$217.50 21.25 52.25 16.00 $307.00 $8.00 7.00 16.00 6.97 28.00 10.06 $1,203.02 $
41 bu 0.95 tons 100 lbs 1.10 tons
$178.35 52.25 16.00 42.90 $246.60 $8.00 7.00 16.00 5.73 28.00 9.76 $1,141.07 $
$
$ $
2.75 months 2 hours
2.75 months 2 hours
$ $
$14.00 $1,217.02 $ $0.96 $0.97
$14.00 $1,155.07 $ $0.91 $0.92
$ $ $ $ $
Death loss cost is assumed to be 1% of feeder purchase costs and 0.5% of all other variable costs. Note: One pound of modified distiller grain contains the energy of 0.5 pound of corn and the protein of 0.36 pound of soybean meal.
a/
Page 12
Livestock Enterprise Budgets for Iowa - 2008
Finishing Steer Calves — One Head
Corn and Hay Ration Income Fed steer sale (1,150 lbs x $_______/lb) Variable Costs Calf feeder cost @ $1.12 per lb Interest @ 9% Feed Costs Corn @ $4.35 per bushel Mid-grade hay @ $85.00 per ton Modified distiller grain @ $55.00 per ton Supplement & minerals @ $0.16 per lb Corn silage @ $39.00 per ton Total Feed Costs Veterinary and health Machinery and equipment Marketing and miscellaneous Interest on variable costs @ 9% Labor @ $14.00 per hour Death loss a/ Total Variable Costs Income over Variable Costs Fixed Costs Machinery, equipment, housing Total of All Costs Income over All Costs Break-even selling price for variable costs per lb Break-even selling price for all costs per lb Quantity 1150 lbs $ Corn and Silage Ration Quantity 1150 lbs $ Your Farm $
550 lbs 7 months
$616.00 32.34
550 lbs 7 months
$616.00 32.34
$
52 0.4 1.05 130
bu tons tons lbs
$226.20 34.00 57.75 20.80 $338.75 $10.00 11.00 14.00 9.81 42.00 17.22 $1,091.12 $
38 bu 1.05 tons 130 lbs 1.70 tons
$165.30 57.75 20.80 66.30 $310.15 $10.00 11.00 14.00 9.06 42.00 16.93 $1,061.48 $
$
$ $
3.5 months 3 hours
3.5 months 3 hours
$ $
$21.00 $1,112.12 $ $0.95 $0.97
$21.00 $1,082.48 $ $0.92 $0.94
$ $ $ $ $
Death loss cost is assumed to be 2% of feeder purchase costs and 1% of all other variable costs. Note: One pound of modified distiller grain contains the energy of 0.5 pound of corn and the protein of 0.36 pound of soybean meal.
a/
Livestock Enterprise Budgets for Iowa - 2008
Page 13
Finishing Yearling Heifers — One Head
Corn and Hay Ration Income Fed heifer sale (1,100 lbs x $_______/lb) Variable Costs Yearling feeder cost @ $1.05 per lb Interest @ 9% Feed Costs Corn @ $4.35 per bushel Mid-grade hay @ $85.00 per ton Modified distiller grain @ $55.00 per ton Corn silage @ $39.00 per ton Supplement & minerals @ $0.16 per lb Total Feed Costs Veterinary and health Machinery and equipment Marketing, transport & miscellaneous Interest on variable costs @ 9% Labor @ $14.00 per hour Death loss a/ Total Variable Costs Income over Variable Costs Fixed Costs Feedlot facilities & equipment Total of All Costs Income over All Costs Break-even selling price for variable costs per lb Break-even selling price for all costs per lb Quantity 1100 lbs $ Corn and Silage Ration Quantity 1100 lbs $ Your Farm $
700 lbs 155 days
$735.00 28.09
700 lbs 155 days
$735.00 28.09
$
50 bu 0.25 tons 0.95 tons 100 lbs
$217.50 21.25 52.25 16.00 $307.00 $8.00 7.00 16.00 6.97 28.00 9.50 $1,145.56 $
41 bu 0.95 tons 1.1 tons 100 lbs
$178.35 52.25 42.90 16.00 $289.50 $8.00 7.00 16.00 6.61 28.00 9.41 $1,127.61 $
$
$ $
2.75 months 2 hours
2.75 months 2 hours
$ $
$16.00 $1,161.56 $ $1.04 $1.06
$16.00 $1,143.61 $ $1.03 $1.04
$ $ $ $ $
Death loss cost is assumed to be 1% of feeder purchase costs and 0.5% of all other variable costs. Note: One pound of modified distiller grain contains the energy of 0.5 pound of corn and the protein of 0.36 pound of soybean meal.
a/
Page 14
Livestock Enterprise Budgets for Iowa - 2008
Backgrounding Steer Calves — One Head
Winter Corn and Hay Ration Income Feeder cattle sales ($_______/lb) Variable Costs Calf purchase @ $1.12 per lb Interest @ 9% annual Feed Costs Corn @ $4.35 per bushel Alfalfa - brome hay @ $85.00 per ton Supplement & minerals @ $0.16 per lb Improved pasture @ $50.00 per acre Pasture fert, misc costs @ $20.00 per acre Total Feed Costs Veterinary and health Machinery and equipment Marketing, transport & miscellaneous Interest on variable costs @ 9% Labor @ $14.00 per hour Death loss a/ Total Variable Costs Income over Variable Costs Fixed Costs Machinery, equipment, housing Total of All Costs Income over All Costs Break-even selling price for variable costs per lb Break-even selling price for all costs per lb $ $0.99 $1.01 $ Quantity 750 lbs $ Summer Improved Pasture Quantity 750 lbs $ Your Farm $
450 lbs 5 months
$504.00 18.90
525 lbs 5 months
$588.00 22.05
$
27 bu 0.5 tons 80 lbs
$117.45 42.50 12.80
$ 35 lbs 0.7 acre 0.7 acre $5.60 35.00 14.00 $54.60 $5.00 4.25 12.00 1.42 14.00 6.56 $707.88 $ $ $
$172.75 $5.00 4.50 12.00 3.64 17.50 6.31 $744.60
2.5 months 1.25 hours
2.5 months 1 hour
$ $
$14.00 $758.60 $
$2.10 $709.98
$ $ $
$0.94 $0.95
$ $
a/
Death loss cost is assumed to be 1% of feeder purchase costs and 0.5% of all other variable costs.
Livestock Enterprise Budgets for Iowa - 2008
Page 15
Beef Cow-Calf — One Cow Unit a/
Hay and Pasture Calves Sold Income Heifer calf (0.26 head x $_______/lb) Steer calf (0.46 head x $_______/lb) Cull cow (0.18 head x $_______/lb) Gross Income Variable Costs Feed Costs Pasture @ $35.00 per acre Pasture fert, misc costs @ $20 per acre Corn @ $4.35 per bushel Modified distiller grain @ $55.00 per ton Salt & mineral @ $0.09 per lb Supplement & minerals @ $0.16 per lb Alfalfa - brome hay @ $85.00 per ton Corn stalks @ $3.00 per acre Total Feed Costs Veterinary and health Machinery, equipment, fuel and repairs Marketing and miscellaneous Interest on variable costs @ 9% Labor @ $14.00 per hour Total Variable Costs Income over Variable Costs Fixed Costs Machinery, equipment, fences Interest, insurance on herd @ 10% Bull depreciation/replacement Total Fixed Costs Total of All Costs Income over All Costs Break-even selling price for variable costs per lb b/ Break-even selling price for all costs per lb b/
a/
Hay and Pasture Calves Fed Quantity 1000 lbs 1100 lbs 1150 lbs $ $ $ $
Your Farm
Quantity 500 lbs 550 lbs 1350 lbs
$ $ $ $
$ $ $ $
2.5 acres 2.5 acres 4 bu 60 lbs 2.1 tons 4 acres
$87.50 50.00 17.40 5.40 178.50 12.00 $350.80 $25.00 15.00 20.00 18.49 112.00 $541.29 $
2.5 2.5 56 1.05 60 128 2.5 4
acres acres bu tons lbs lbs tons acres
$87.50 50.00 243.60 57.75 5.40 20.48 212.50 12.00 $689.23 $35.00 26.00 25.00 52.33 140.00 $967.56 $
$
$ $
6 months 8 hours
9 months 10 hours
$ $
$65.10 108.20 12.00 $185.30 $726.59 $ $1.17 $1.65
$75.10 108.20 12.00 $195.30 $1,162.86 $ $1.14 $1.40
$
$ $ $ $ $
A cow-calf unit is 1 cow, 0.2 bred heifer, 0.9 calf, and 0.04 bull. Calf crop weaned of 92% of cows in herd, 20% replacement and 2% death rate on replacement heifers and cows are assumed. b/ Assumes yearly cull cow sales of $93.15. Note: One pound of modified distiller grain contains the energy of 0.5 pound of corn and the protein of 0.36 pound of soybean meal.
Page 16
Livestock Enterprise Budgets for Iowa - 2008
Beef Cow-Calf Investment
1. Breeding herd investment per cow unit Beef cow Replacement heifer ($850 x 0.20 head per cow unit) Bull ($1,800 divided by 25 cows) Per cow unit $850.00 $160.00 $72.00 $1,082.00
2. Bull replacement cost per cow unit Bull cost, $1,800 minus cull value, $900 divided by cows, 25 cows divided by number of years 3 years
$12.00
3. Facilities and machinery investment (50 - cow herd) (replacement cost) Utility tractor ($18,000 x 25% cow use) $4,500 $2,000 $3,000 $11,750 $2,000 $23,250 $465 $65
Hay moving equipment Handling facilities Fences ($94.00 per acre x 125 acres)
Feeders and waterers Total Total investment per cow (50 cow herd) Depreciation, interest, taxes, insurance @ 14% annually
Livestock Enterprise Budgets for Iowa - 2008
Page 17
Ewe Flock — One Ewe a/
Early Lambing (Jan-Feb) Income Lambs (125 lbs x $_______/lb) Cull ewes (150 lbs x $_______/lb) Wool ($_______/lb) Gross Income Variable Costs Feed Costs Corn @ $4.35 per bushel Supplement & minerals @ $0.15 per lb Alfalfa - brome hay @ $85.00 per ton Pasture @ $35.00 per acre Pasture fert, misc @ $20.00 per acre Total Feed Costs Veterinary, medical, shearing Machinery and equipment operating Marketing and miscellaneous Interest on variable costs @ 9% Labor @ $14.00 per hour Total Variable Costs Income over Variable Costs Fixed Costs Machinery, equipment, housing, fencing Interest, insurance on breeding flock @ 10% Ram replacement Total Fixed Costs Total of All Costs Income over All Costs Break-even selling price for variable costs per lb b/ Break-even selling price for all costs per lb b/ $ $1.19 $1.43 $ Quantity 1.24 head 0.15 head 9 lbs $ $ $ $ Late Lambing (Apr-May) Quantity 1.33 head 0.15 head 11 lbs $ $ $ $ Your Farm
$ $ $ $
10 100 0.4 0.2 0.2
bu lbs tons acres acres
$43.50 15.00 34.00 7.00 4.00 $103.50 $8.00 5.00 5.00 5.47 70.00 $196.97
8 60 0.3 0.3 0.3
bu lbs tons acres acres
$34.80 9.00 25.50 10.50 6.00 $85.80 $9.00 4.00 5.00 4.67 42.00 $150.47 $
$
$ $
6 months 5 hours
6 months 3 hours
$ $
$15.40 15.90 5.60 $36.90 $233.87 $
$14.93 15.90 5.60 $36.43 $186.90
$
$ $ $
$0.83 $1.05
$ $
160% (early) or 170% (late) lamb crop, 20% replacement rate. One unit includes one ewe, 0.2 replacement ewe, 1.6 lambs, and 0.04 ram. Death loss of 10% for lambs weaned and 5% for ewes and ewe lambs assumed. b/ Assumes cull ewe income of $8.00 and wool income of $4.50 (early) or $5.50 (late) per unit.
a/
Page 18
Livestock Enterprise Budgets for Iowa - 2008
Ewe Flock Investment
1. Breeding flock investment per ewe unit Ewe Replacement ewe lamb ($100.00 x 0.20 per ewe) Ram ($350.00 divided by 25 ewes) Total $125.00 $20.00 $14.00 $159.00 per unit
2. Ram replacement cost per ewe unit Ram cost, $350.00 minus cull value, $70.00 divided by ewes, 25 ewes divided by number of years 2 years
$5.60
per unit
3. Facilities and machinery investment (150 ewes) (replacement cost) Early Lambing $4,500 $3,000 $2,000 $7,000 $16,500 Late Lambing $4,500 $4,500 $2,000 $5,000 $16,000
Utility tractor
($18,000 x 25% use for sheep)
Fences ($100.00 per acre times 30 acres or 45 acres) Feed Storage Barns, pens, feeders, etc. Total
Total investment per ewe (150 ewe flock) Depreciation, interest, taxes, insurance @ 14% annually
$110.00 $15.40
$106.67 $14.93
Livestock Enterprise Budgets for Iowa - 2008
Page 19
Feeder Lamb — One Head
Income Lamb (125 lbs x $_______/lb) Wool (3 lbs x $_______/lb) Gross Income Variable Costs Feeder cost @ $1.20 per lb Interest @ 9% Feed Costs Corn @ $4.35 per bushel Supplement & minerals @ $0.15 per lb Alfalfa - brome hay @ $85.00 per ton Total Feed Costs Veterinary, medical, shearing Machinery and equipment Marketing, miscellaneous Interest on variable costs @ 9% Death loss Labor @ $14.00 per hour Total Variable Costs Income over Variable Costs Fixed Costs Machinery, equipment, housing Total of All Costs Income over All Costs Break-even selling price for variable costs per lb a/ Break-even selling price for all costs per lb a/ $ $1.11 $1.14 $ $3.50 $142.61 Your Farm $ $ $ 70 lbs 100 days $84.00 2.07 $ $ $
$
290 lbs 32 lbs 35 lbs
$22.53 4.80 1.49 $28.81 $5.00 1.00 2.00 0.54 1.68 14.00 $139.11
$
$ $
60 days 1.0 hours
$ $
$ $ $ $ $
a/
Assumes wool income of $3.00 per head and death loss of 2%.
Page 20
Livestock Enterprise Budgets for Iowa - 2008
Lamb Feed Requirements
Table 1. Feed Requirement and Portion of Year on Feed to Finish Lamb to 110 lbs Beginning Wt. of Feeder, lb 60 65 70 75 80 85 Corn Bu 3.60 3.37 3.12 2.81 2.50 2.16 Lb 202 189 175 157 140 121 Supplement (32-36%), lb 39 34 29 24 19 15 Hay lb 35 30 25 22 18 14 Lb feed per lb of gain 5.50 5.65 5.70 5.85 5.90 6.05
Days on Feed 100 90 80 70 60 50
Table 2. Approximate Feed Requirement When Feeding Complete Pelleted Rations Beginning Wt. of Feeder, lb 60 65 70 75 80 85 Lb feed per lb of gain 5.70 5.80 5.90 6.00 6.10 6.20 Complete Feed-pelleted (lb) 285 261 236 210 183 155 Time on Feed Portion of year 0.25 0.22 0.20 0.18 0.15 0.12
Days 90 82 73 64 55 45
Table 3. Approximate Feed Requirement When Feeding Low Roughage Mainly Corn and Supplement Rations Beginning Wt. of Feeder, lb Roughage Grain Supplement 75 15 158 24 80 13 139 19 85 10 120 15
Days 67 58 48
Time on Feed Portion of year 0.18 0.16 0.13
Livestock Enterprise Budgets for Iowa - 2008
Page 21
Grade A Dairy — One Cow Unit
20,000 lb of milk per cow annually Income Milk sales ($_______/cwt) a/ Cull cow ($_______/lb) Dairy calf ($_______/hd) Replacement heifer ($_______/hd) Gross Income Variable Costs Feed Costs Corn equivalents @ $4.35 per bushel Corn Silage @ $43.50 per ton Hay equivalents @ $150.00 per ton Salts and minerals b/ Protein supplement @ $0.18 per lb Cottonseed @ $0.18 per lb Fat @ $0.35 per lb Milk replacer, calf starter Total Feed Costs Hauling @ $0.29 per cwt Veterinary and health Fuel, utilities and repairs DHIA & accounting Breeding fees Bedding, supplies and miscellaneous Interest on variable costs @ 9% Labor @ $14.00 per hour Total Variable Costs Income over Variable Costs Fixed Costs Machinery, equipment, facilities Interest, insurance on herd @ 10% Total Fixed Costs Total of All Costs Income over All Costs Income from animal sales Break-even selling price for variable costs per cwt Break-even selling price for all costs per cwt
a/
24,000 lb of milk per cow annually 240 cwt 0.39 hd @ 1400 lb 0.52 head 0.21 head $ $ $ $ $
Your Farm $ $ $ $ $
200 cwt 0.36 hd @ 1350 lb 0.51 head 0.18 head
$ $ $ $ $
104 bu 8.0 tons 6.1 tons 242 lbs @ $0.14/lb 1285 lbs 725 lbs 26 lbs
$452.40 113 bu 348.00 8.0 tons 915.00 6.0 tons 33.88 323 lbs @ $0.13/lb 224.88 1855 lbs 130.50 1361 lbs 9.10 111 lbs 90.00 $2,203.76 $58.00 98.00 150.00 28.00 40.00 160.00 61.60 980.00 $3,779.35 240 cwt
$491.55 348.00 900.00 41.99 324.63 244.98 38.85 90.00 $2,480.00 $69.60 118.00 160.00 30.00 50.00 170.00 69.25 980.00 $4,126.84 $
$
$ $
200 cwt
3 months 70 hours $
3 months 70 hours
$ $
$520.00 239.00 $759.00 $4,538.35 $ $300.00 $17.40 $21.19
$520.00 276.30 $796.30 $4,923.14 $ $320.00 $15.86 $19.18
$ $ $ $ $ $ $
Milk price per cwt. is a total based on the following price components: butterfat, protein, other solids, producer price differential, quality, volume, and capital payout. b/ Salt and mineral packages vary in the rations for different levels of production.
Page 22
Livestock Enterprise Budgets for Iowa - 2008
Dairy Investment
1. Breeding herd investment per cow unit 20,000 lb milk per cow annually 1.00 hd @ $1,600 0.40 hd @ $1,400 0.46 hd @ $500 24,000 lb milk per cow annually 1.00 hd @ $1,800 0.43 hd @ $1,600 0.50 hd @ $550
Dairy cow Replacement dairy heifer Replacement dairy calf Total investment per cow unit
$1,600 560 230 $2,390
$1,800 688 275 $2,763
2. Facilities, equipment and machinery investment (replacement cost) Dairy barn, pens, shelter Milk house, stanchion, cooler, etc Feed storage Utility tractor Manure and feed handling equipment Total Investment Total investment per cow for 70 cow herd Deprec., int., taxes, ins. @ 14% annually 20,000 lb $125,000 35,000 40,000 30,000 30,000 $260,000 $3,714 $520 24,000 lb $125,000 35,000 40,000 30,000 30,000 $260,000 $3,714 $520
3. Feed requirements per cow unit Pounds of milk per year Corn silage (tons) Hay equivalents (tons) Corn equivalents (bu) Protein supplement (lb) Salt and mineral (lb) Whole (linted) cottonseed (lb) Fat (lb) 20,000 lb 8.0 6.1 104 1285 242 725 26 24,000 lb 8.0 6.0 113 1855 323 1361 111