Slight Cost of Production Changes Noted in the 2024 Nebraska Crop Enterprise Budgets

Glennis McClure

No 413256, Cornhusker Economics from University of Nebraska-Lincoln, Department of Agricultural Economics

Abstract: The Nebraska crop budgets are available for the 2024 production season. The 84 enterprise budgets prepared in the October 2023 timeframe use input prices collected as of that time. Overall, estimates reflect slight cost of production decreases in the budgets when compared to the 2023 cost estimates. For 2024, the main drivers of cost decreases are due to decreased fuel and fertilizer costs. In some cases, pesticide costs decreased, yet for some of those products, prices increased. Seed and interest costs have increased for 2024 adding to cash expenses, while land opportunity costs and depreciation costs have continued to rise which add to total economic costs in the crop enterprise budgets.

Keywords: Crop; Production/Industries (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:ags:nbaece:413256

DOI: 10.22004/ag.econ.413256

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