These planning prices can be used for preparing annual enterprise budgets and annual whole-farm cash flow projections.
The North Dakota State University Extension Service has released its short- and long-term agricultural planning price projections for North Dakota, says Ron Haugen, Extension farm economist.
The publication shows 2016 price projections for crops and livestock produced in the state and price estimates for future years. Price projections are given for the major crop commodities: wheat, durum, oats, feed barley, malting barley, oil sunflowers, non-oil sunflowers, corn, soybeans, canola, flaxseed, winter wheat, dry beans, dry peas, lentils, alfalfa hay and mixed hay.
2016 Planning Price Projections - Crops
Price projections for livestock and livestock products include beef steers and heifers at various weights, cull cows, slaughter steers, slaughter hogs, slaughter ewes, slaughter lambs, feeder lambs and milk.
2016 Planning Price Projections - Livestock and Milk
The publication also provides historical prices as a reference.
“Crop and livestock prices are down from the previous year,” Haugen says. “The estimated short-term planning prices should be used as a guide in setting price expectations for 2016 production. These planning prices can be used for preparing annual enterprise budgets and annual whole-farm cash-flow projections.”
He adds, “With tight margins this year, cash-flow projections are more critical than ever. The short-term prices should not be used for planning capital purchases or expansion alternatives that would extend beyond the next production year.”
To obtain this publication, “Plotting a Course 2016” (EC1090), call (701) 231-7882 or write to NDSU Agriculture Communication, Distribution Center, Dept. 7070, Box 6050, 10 Morrill Hall, Fargo, ND 58108-6050, or contact a county office of the NDSU Extension Service.