Budgets | Department of Agricultural and Resource Economics

Accounting for all costs of production

The 2024 Tennessee Field Crop Budgets were developed to assist producers and other agricultural decision-makers in evaluating the returns of different row cropping alternatives. The budgets developed use production alternatives, management strategies, machinery and inputs that are commonly utilized in row-crop production in Tennessee. Given the diverse nature of row-crop production in the state, it is impossible to account for all possible production scenarios and circumstances. As such, this guide should be utilized to assist decision-makers in their annual planning efforts. To develop a custom budget for a specific field or operation, interested parties are strongly encouraged to use University of Tennessee Extension’s Excel-based spreadsheet available below. The spreadsheet uses the same format as the budgets contained in this document; however, it allows the user to change yields, input quantities, input prices, machinery costs and add additional costs that are specific to a field or enterprise. This allows users to adjust for region- and site-specific production methods and input selections.

This publication and the accompanying Excel spreadsheet contain short-term planning budgets for corn, cotton, soybean and wheat enterprises. These budgets should be used for short-run or annual plans developed for 2024, as significant changes may occur from year to year in production methods and input and output prices.

The fertilizer recommendations in the crop budgets are generally for soils that have a medium soil test. Farmers should have their soils tested in order to get maximum return for money spent for fertilizer. As crop programs are planned, the fertilizer applications can be adjusted to the soil test recommendations.

Disclaimer: Significant variability in inputs, prices and production methods exist in the production of row crops. The information contained in this document relies on estimates and assumptions that are specific to Tennessee row-crop production. These budgets should not be construed as a reflection of all circumstances across the state, as significant regional variability will occur. To improve the accuracy, users are encouraged to use inputs, prices and processes that are utilized on their specific farms in budget calculations.

Trade Names, Herbicides, Insecticides, and Pesticides Caution

Use of trade or brand names in this publication is for clarity and information: It does not imply approval of the product to the exclusion of others that may be of similar, suitable composition, nor does it guarantee or warrant the standard of the product.

The herbicide and insecticide programs used in these budgets are based on UT Extension publications titled “2024 Weed Control Manual for Tennessee” (PB 1580) and “2024 Insect Control Recommendations for Field Crops” (PB 1768). Pesticides recommended in the publication were registered for the prescribed uses when this manual was printed. Pesticide registrations are continuously being reviewed. Should registration of a recommended pesticide be canceled, it will no longer be recommended by the University of Tennessee.

In order to protect people and the environment, pesticides should be used safely. This is everyone’s responsibility, especially the user. Read and follow label directions carefully before you buy, mix, apply, store or dispose of a pesticide. According to laws regulating pesticides, they must be used only as directed by the label.

No direct government program benefits are included in the budgets. Adjust payment estimates as appropriate for your enterprise.

Field Crop Budgets

Profitable Marketing Decision Aid – Excel

This marketing tool is to be used in conjunction with the Field Crop Budgets and is to help producers determine profitable yield and price combinations for primary row crops.

Individual Budgets

Corn
Soybeans
- No-Till, Non-Irrigated
- No-Till, Irrigated
Winter Wheat
- Non-Irrigated
Wheat/Soybeans Double Cropped
- No-Till, Non-Irrigated
Cotton
Grain Sorghum
- No-Till, Non-Irrigated

Footnotes

For additional information, contact Aaron Smith or Becky Bowling.

Cow/Calf and Stocker/Backgrounding Budgets

The cow-calf budget was developed to assist Tennessee cattle producers in estimating the cost of production and net return to land and management. This budget should be considered a template or guide to estimating expenses and revenues, and it should not be considered representative of all circumstances. Users of this budget are encouraged to enter information into the budget that reflects their individual situation and production practices. Using information most closely related to a particular operation will improve the decision making process.

Disclaimer: Significant variability in inputs, prices, and production practices exist across operations and from region to region. The information contained in this budget relies on estimates and assumptions specific to Tennessee. This budget should not be construed as a reflection of all circumstances across the state as regional variability does exist. To improve the value of this tool, users are encouraged to use inputs, prices, production practices, and management that are employed on their specific operation.

Cow/Calf Budgets

Heifer Development Budget

Heifer Development for 2024 – Excel

Stocker/Backgrounding Budgets

Meat Goat Budget – 2010

For additional information, contact Andrew Griffith or Becky Bowling.

Forage Budgets 2007 – PDF

For additional information, contact Andrew Griffith or Becky Bowling.

2023-2024 Burley and Dark Tobacco Production Guide

Burley Tobacco

Dark Air Cured Tobacco

Dark Fired Tobacco

Dark Fired Wrapper Tobacco

Dark Air Cured Wrapper Tobacco

Sample Budget for Small-Scale Tomato Operations – 2022

The objective of this sample budget is to guide small-scale tomato producers on things to consider when estimating their net returns. Given that the budget presented here is just an example, actual numbers should not be used to estimate net revenues. Every operation is unique; therefore, estimated costs and revenue may vary depending on soil conditions, tomato variety, production practices used, and various other factors.

An Excel spreadsheet version of the sample tomato enterprise budget (Table 1) is available. Growers can modify values and details in this Excel Workbook highlighted in grey and thus use it to evaluate their own production costs and returns.

Sample Budget for Large-Scale Bell Pepper Operations and the Impact of Phytophthora Blight on Farm Revenue and Costs – 2022

This sample budget aims to guide bell pepper producers and those interested in producing bell peppers on the factors to consider when estimating their net revenue from growing and marketing bell peppers. Additionally, this sample budget helps evaluate the economic impact of Phytophthora blight at the farm level, by comparing a baseline budget with an alternative budget that includes managing costs and potential yield losses associated with this disease.

Sample Budget for Large-Scale Bell Pepper Operations and the Impact of Phytophthora Blight on Farm Revenue and Costs, 2022 – PDF

An Excel spreadsheet version of the sample budget for large-scale bell peppers is available.

Sample Budget for Blueberry Production Under Various Integrated Pest Management and Marketing Strategies – 2020

The objective of this sample budget is to guide blueberry producers and those interested in producing blueberries on the factors to consider when estimating their production and marketing costs. Additionally, this sample budget helps users evaluate changes in costs associated with two integrated pest management (IPM) strategies (i.e., low and moderate), and three marketing strategies (i.e., 100% Ready retail, 50% U-Pick and 50% Ready Picked retail, 75% U-Pick and 25% Ready Picked retail).

The Excel-based blueberry sample budget Excel tool allows users to select different scenarios associated with plant density, IPM and marketing strategies.

For additional information, contact Margarita Velandia or Becky Bowling.

Sample Budget for Blackberry Production Under Various Integrated Pest Management and Marketing Strategies – 2022

The objective of this sample budget is to guide blackberry producers and those interested in producing blackberries on the factors to consider when estimating their production and marketing costs. Additionally, this sample budget helps users evaluate changes in costs associated with two integrated pest management (IPM) strategies (i.e., none and conventional fungicide program), and three marketing strategies (i.e., 100% Ready retail, 50% U-Pick and 50% Ready Picked retail, 75% U-Pick and 25% Ready Picked retail).

The blackberry sample budget Excel tool allows users to select different scenarios associated with IPM and marketing strategies, as well as change assumptions related to labor and fuel costs, yield, and blackberry prices.

For additional information, contact Margarita Velandia or Becky Bowling.

2020 Industrial Hemp Extract (CBD) Production Budget (1 acre)

This publicaton and Excel file contains the 2020 University of Tennessee Industrial Hemp Extract Biomass (CBD) Production budget. Production systems vary tremendously in industrial hemp production, so producers are encouraged to modify practices, inputs and expenses to reflect their business.

For additional information, contact Xiurui Iris Cui or Aaron Smith.

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