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Economics of Cover Crop Management Practices in Minnesota Farms

Mai Lan Hoang, Tina LeBrun, and Vincent Gauthier

Summary

As the agriculture environment feels an increasing pressure from the general public to produce farm commodities in an environmentally friendly way, farm producers weigh the economics of implementing climate smart practices into their farm operations. As part of a three-year project in Minnesota, the Environmental Defense Fund, the University of Minnesota’s Center for Farm Financial Management, the Minnesota State Farm Business Management program, and the University of Minnesota Extension’s Southwest Minnesota Farm Business Management Association began a collaborative effort to gather farm financial data on cover crop practices in 2022. Detailed financial data on cover crops is being gathered in FINBIN (FINBIN.umn.edu) from a cohort of 122 Minnesota farms. Eighty-three of these farms contributed cover crop data in 2022, and an additional 38 farms are committed to contributing data for the 2023 production year. This workshop will explain results from the newest Minnesota cover crop data and the impact climate-smart initiatives may have on producer risk management strategies.

Details

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