Introducing the Crop Budget Estimator

 

Many economists are estimating that farm profits will be at similar levels to those experienced this past year.  With cold temperatures and wet conditions this spring creating additional uncertainty to work through, farmers are continually looking for ways to improve the sustainability of their farm businesses.  Michigan State University Extension farm management educators want to help farmers focus on what they can control and better manage through these uncertain times. 

 

 

Introducing the Crop Budget Estimator, a Microsoft Excel-based tool, built around key areas that producers need to consider as they plan for and continually evaluate their growing season.  Using the farm’s own records or current market information, farm managers can evaluate and more accurately make a number of management decisions that reflect the situation of their individual farm business.

 

It combines in one place:

This combination of economic and agronomic information allows producers to make better marketing decisions, compare chemistry and fertilizer programs recommended by crop nutritionists and advisors, evaluate the potential impact of capital purchases (i.e. a new tractor or combine), and other important decisions that may be encountered throughout the season.

 

As Michigan farms face challenging weather conditions, uncertainties brought on by commodity markets, and concern over tightening margins, making well-informed decisions has never been more important.  Using tools like the Crop Budget Estimator can help producers improve profitability, be productive, and minimize potential risks to their farm business.

 

To access this new tool, please visit: https://www.canr.msu.edu/resources/crop-budget-estimator-tool-detailed and look for the video tutorials demonstrating the various uses and concepts of the Estimator.

 

There is also a fact sheet designed to help producers better understand the many uses of the Estimator. 

 

For the fact sheet, please visit: https://www.canr.msu.edu/resources/crop-budget-estimator-factsheet.

 

For those producers looking for similar assistance with these type of management decisions, but with less detail to input, there is a simple version of the Crop Budget Estimator available here: https://www.canr.msu.edu/resources/crop-budget-estimator-tool-simple. 

 

Video: Finding a Balance of Innovation and Regulation - Dr. Peter Facchini

Regulations help markets and industry exist on level playing fields, keeping consumers safe and innovation from going too far. However, incredibly strict regulations can stunt innovation and cause entire industries to wither away. Dr. Peter James Facchini brings his perspective on how existing regulations have slowed the advancement of medical developments within Canada. Given the international concern of opium poppy’s illicit potential, Health Canada must abide by this global policy. But with modern technology pushing the development of many pharmaceuticals to being grown via fermentation, is it time to reconsider the rules?

Dr. Peter James Facchini leads research into the metabolic biochemistry in opium poppy at the University of Calgary. For more than 30 years, his work has contributed to the increased availability of benzylisoquinoline alkaloid biosynthetic genes to assist in the creation of morphine for pharmaceutical use. Dr. Facchini completed his B.Sc. and Ph.D. in Biological Sciences at the University of Toronto before completing Postdoctoral Fellowships in Biochemistry at the University of Kentucky in 1992 & Université de Montréal in 1995.