Conferences
Incorporating Risk Management Considerations into Row Crop Enterprise Budgets
Nathan Smith
Summary
Enterprise budgets are one of the most downloaded tools on Clemson Extension’s website. Farmers, lenders, and industry professionals regularly request updated costs and returns. The Clemson Extension Agribusiness team recently made changes to the budget format for all enterprises and developed a row crop master budget tool with individual budgets and a popular crop comparison tool linking to the individual row crop budgets. A Financial Efficiency by Crop table has been added showing the direct expense to revenue and operating profit ratios and prices required at different operating profit margins. Also, a Crop Insurance Revenue Protection Guarantee to Direct Expense ratio is shown at different coverage levels. Risk management considerations using the ratios with the enterprise budgets and crop comparisons will be discussed and feedback from users.
Presentation Materials
Details
| Conference | 2024 Extension Risk Management Education National Conference |
| Presentation Type | Poster |