AgriLife Extension workshop to help producers compare crop profitability

Writer: Steve Byrns, 325-653-4576, s-byrns@tamu.edu

Contact: Dr. Jackie Smith, 806-746-6101, j-smith34@tamu.edu

 

LUBBOCK — Producers with an eye for profit can weigh various financial options at an upcoming Texas A&M AgriLife Extension Service profitability workshop, said an AgriLife Extension economist.

Dr. Jackie Smith, AgriLife Extension economist at Lubbock, said the workshop is slated from 9 a.m.-3 p.m. March 26 at the Texas A&M AgriLife Research and Extension Center at Lubbock, 1102 E. Farm-to-Market Road 1294.

“Our objective is to provide producers the tools, data and skills needed to evaluate the potential profitability of alternative crops,” Smith said.

“Each participant will receive a printed copy and jump drive containing the Excel crop budgets, break-even tables and other data calculated from the set of budgets,” he said. “Anyone with a laptop computer is encouraged to bring it to the workshop.”

Individual registration is $20, and includes lunch and refreshments. Payment by check is due on the day of the workshop.

The workshop is funded by a grant from the Texas State Cotton Support Committee.

“The grant enables us to develop a crop budget projection tool, conduct training workshops, keep data updated, and then make the budgeting tool and information readily available to producers,” Smith said. “The producers will go home with a spreadsheet that they know how to use and can fine-tune with their own cost data and make accurate comparisons of the profitability of cotton, sorghum, corn, peanuts and other crops.”

The comparison spreadsheet includes four cotton budgets and 23 other crop budgets that Smith said can be quickly evaluated with expected input costs and crop prices. He said the iPhone/iPad app, CropCost, will also be demonstrated.

CropCost can be used along with the computer version to make adjustments in prices, yield and other factors, he said. The instructors will assist the participants in installing the app on their iPhone or iPad.

“The Excel spreadsheet is also designed to allow users to examine the impact of different crop share rental or cash lease arrangements on landlord and renter’s net income, evaluate the financial risk of each crop and compare various allocations of the available irrigation water.”

AgriLife Extension risk management specialists Jay Yates and Jeff Pate, both of Lubbock, will join Smith to conduct the workshop.

To reserve a place in the workshop, contact Viki Bartlett at 806-746-6101. For more information, contact Smith at the same number.

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