FINPACK Livestock Budgets

These budgets are intended to provide guidelines for developing FINPACK livestock plans. They are based on the actual costs and returns of Minnesota farm producers included in the FINBIN Farm Financial Database in 2020. Where sufficient farms reported results, the farms are sorted into low/medium/and high profit groups to show the range of results. Note that prices listed are the actual prices received for 2022 sales. When using these budgets to project future cash flows, adjustments should be made to these prices.

Special Note: There were not sufficient numbers of farrow to finish hog operations in 2022 to report budget data for these types of farm operations.

Farms included participate in the MN State Farm Business Management program or the University of Minnesota’s Southwest Minnesota Farm Business Management Association. No attempt was made to predict future costs or prices; these are the actual cost and returns reported for 2022 for these farms.

Note on Feed Equivalents: The purchased feed expense for several of these enterprises includes substantial Complete Rations, resulting in lower corn equivalent requirements than might be expected. Where applicable, the pounds and value of complete rations are listed at the bottom of the table. For producers who do not feed complete rations, we would suggest decreasing purchased feed and increasing corn equivalents. Roughly, if it is estimated that half of the complete ration was corn, you would decrease purchased feed by half the complete ration cost and increase corn equivalents but half the weight divided by 56 pounds per bushel.

FINPACK Budget Estimates: Dairy (per cow)

This report excludes organic dairies and those dairies transitioning to organic production.

Category Low 33% Profitability Group Mid 33% Profitability Group High 34% Profitability Group
Production & Income      
Sales quantity (lbs) 22,446 25,771 27,071
Price per cwt. 23.57 24.26 24.65
Product income 5,290.59 6,252.00 6,672.88
Cull income 250.71 275.60 293.70
Miscellaneous income 21.47 10.22 92.25
Gross income 5,562.77 6,537.82 7,058.83
Expenses      
Purchased feed¹ 1,331.84 1,641.24 1,672.25
Breeding 46.73 56.71 44.83
Veterinary 107.56 108.16 94.56
Supplies 159.68 142.84 176.36
Custom hire 65.99 105.62 85.57
Hauling & Trucking 81.50 124.99 143.84
Bedding 75.67 91.83 81.54
Subtotal expense 1,868.97 2,271.39 2,298.95
Additional Details      
Labor Hours 31.3 37.4 38.5
Corn equivalents (bu.)¹ 81.2 75.4 71.5
Hay equivalents (tons) 2.4 2.4 2.3
Silage equivalents (tons) 10.0 10.9 11.0
¹Complete ration included in purchased feed      
Pounds 1,037 963 2,132
Cost
 383.09 514.00 759.88

 

FINPACK Budget Estimates: Dairy with Replacements (per cow)

This report excludes organic dairies and those dairies transitioning to organic production.

Category Low 33% Profitability Group Mid 33% Profitability Group High 34% Profitability Group
Production & Income      
Sales quantity (lbs) 22,600 26,052 27,124
Price per cwt. 23.47 24.16 24.74
Product income 5,304.22 6,294.16 6,710.48
Cull income 252.53 291.61 299.96
Miscellaneous income 137.55 47.02 118.76
Gross income 5,694.30 6,632.79 7,129.20
Expenses      
Purchased feed¹ 1,469.05 1,833.06 1,774.50
Breeding 66.85 83.84 62.55
Veterinary 113.17 124.27 112.11
Supplies 184.33 153.18 115.34
Custom hire 73.50 107.27 86.32
Bedding 82.10 112.74 99.58
Subtotal expense 1,989.00 2,414.06 2,250.40
Additional Details      
Labor Hours 36.0 42.6 44.1
Corn equivalents (bu.)¹ 89.4 83.0 78.9
Hay equivalents (tons) 3.8 3.0 3.2
Silage equivalents (tons) 12.8 12.6 13.0
¹Complete ration included in purchased feed      
Pounds 1,000 1,436 4,582
Cost
 425.59 656.65 780.94

 

FINPACK Budget Estimates: Dairy Finishing (per head)

Category Low 33% Profitability Group Mid 33% Profitability Group High 34% Profitability Group
Production & Income      
Sales weight 1,556 1,476 1,420
Sales price per cwt. 122.44 128.54 128.65
Product income 1,905.17 1,897.38 1,826.96
Gross income 1,905.17 1,897.38 1,826.96
Expenses      
Purchase price per head 593.36 718.09 494.62
Purchased feed¹ 300.50 206.85 305.87
Veterinary 27.89 23.01 35.77
Supplies 18.26 5.36 16.56
Marketing 22.53 30.04 9.38
Bedding 15.59 6.86 13.78
Subtotal expense 978.13 990.21 875.98
Additional Details      
Labor Hours 4.6 4.3 4.0
Death loss percent 4.9 3.0 6.3
Months on farm 19 12 15
Corn equivalents (bu.)¹ 117.8 103.3 119.7
Hay equivalents (tons) 0.3 0.2 0.2
Silage equivalents (tons) 1.6 0.8 0.4
¹Complete ration included in purchased feed      
Pounds 357 242 199
Cost
 68.19 58.66 34.87

 

FINPACK Budget Estimates: Beef Cow-Calf (per cow)

Category Low 33% Profitability Group Mid 33% Profitability Group High 34% Profitability Group
Production & Income      
Sales quantity (head) 0.77 0.76 0.86
Sales weight 499 553 587
Price per cwt. 175.02 186.24 178.33
Product income 672.48 782.73 900.25
Miscellaneous income 16.21 12.51 20.69
Gross income 784.43 959.31 1,072.73
Expenses      
Purchased feed¹ 102.67 55.39 81.4
Veterinary 38.07 33.22 45.1
Supplies 20.58 19.36 17.38
Subtotal expense 161.32 107.97 143.88
Additional Details      
Labor Hours 13.6 9.3 10.3
Corn equivalents (bu.)¹ 4.4 5.1 17.3
Hay equivalents (tons) 3.7 2.8 3.0
Silage equivalents (tons) 3.0 3.3 1.5
Pasture (AUMs) 3.9 4.2 6.7
¹Complete ration included in purchased feed      
Pounds 345.2 69.4 89.3
Cost
 26.34 14.99 12.61

 

FINPACK Budget Estimates: Beef Finishing (per head)

Category Low 33% Profitability Group Mid 33% Profitability Group High 34% Profitability Group
Production & Income      
Sales weight 1,400 1,421 1,334
Sales price per cwt. 142.71 145.95 150.29
Product income 1,997.94 2,073.95 2,004.87
Gross income 1,997.94 2,073.95 2,004.87
Purchased Livestock      
Purchase weight 643 767 633
Purchase price per cwt. 178.96 173.31 174.73
Purchase cost 1,150.71 1,329.29 1,106.04
Expenses      
Purchased feed¹ 174.48 129.98 237.43
Veterinary 21.77 14.14 18.05
Supplies 7.96 5.30 4.08
Custom hire 4.41 1.45 4.86
Marketing 7.76 5.21 6.35
Subtotal expense 1,367.09 1,485.37 1,376.81
Additional Details      
Labor Hours 4.3 2.8 2.3
Death loss percent 1.5 1.0 1.6
Months on the farm 10 8 8
Corn equivalents (bu.)¹ 91.4 60.2 50.8
Hay equivalents (tons) 0.7 0.2 0.3
Silage equivalents (tons) 1.9 1.5 1.4
¹Complete ration included in purchased feed      
Pounds 139.3 527.9 1,897.3
Cost
 29.97 64.53 189.55

 

FINPACK Budget Estimates: Beef Finishing (per head)

Category Low 33% Profitability Group Mid 33% Profitability Group High 34% Profitability Group
Production & Income      
Sales weight 1,400 1,421 1,334
Sales price per cwt. 142.71 145.95 150.29
Product income 1,997.94 2,073.95 2,004.87
Gross income 1,997.94 2,073.95 2,004.87
Purchased Livestock      
Purchase weight 643 767 633
Purchase price per cwt. 178.96 173.31 174.73
Purchase cost 1,150.71 1,329.29 1,106.04
Expenses      
Purchased feed¹ 174.48 129.98 237.43
Veterinary 21.77 14.14 18.05
Supplies 7.96 5.30 4.08
Custom hire 4.41 1.45 4.86
Marketing 7.76 5.21 6.35
Subtotal expense 1,367.09 1,485.37 1,376.81
Additional Details      
Labor Hours 4.3 2.8 2.3
Death loss percent 1.5 .0 1.6
Months on the farm 10 8 8
Corn equivalents (bu.)¹ 91.4 60.2 50.8
Hay equivalents (tons) 0.7 0.2 0.3
Silage equivalents (tons) 1.9 1.5 1.4
¹Complete ration included in purchased feed      
Pounds 139.3 527.9 1,897.3
Cost
 29.97 64.53 189.55

 

FINPACK Budget Estimates: Beef Backgrounding (per head)

Category Average
Production & Income  
Sales weight 1,400
Sales price per cwt. 162.37
Product income 1,311.95
Gross income 1,311.95
Purchased Livestock  
Purchase weight 525
Purchase price per cwt. 224.47
Purchase cost 1,178.47
Expenses  
Purchased feed¹ 53.11
Veterinary 11.55
Supplies 2.94
Marketing 10.88
Subtotal expense 1,256.95
Additional Details  
Labor Hours 1.9
Death loss percent 0.9
Months on the farm 8
Corn equivalents (bu.)¹ 9.0
Hay equivalents (tons) 0.43
Silage equivalents (tons) 1.21
¹Complete ration included in purchased feed  
Pounds 258.6
Cost
 34.38

 

FINPACK Budget Estimates: Hogs, Finish Feeder Pigs (per head)

Category Average
Production & Income  
Sales weight 277
Sales price per cwt. 69.10
Product income 191.41
Gross income 191.41
Expenses  
Purchase cost (per head) 65.44
Purchased feed¹ 61.73
Veterinary 1.34
Supplies 1.2
Hauling and trucking 1.68
Marketing 0.54
Subtotal expense 131.93
Additional Details  
Labor Hours 0.2
Death loss percent 5.8
Months on the farm 5
Corn equivalents (bu.)¹ 5.68
Hay equivalents (tons) 0
Silage equivalents (tons) 0
¹Complete ration included in purchased feed  
Pounds 237
Cost
 37.81

 

FINPACK Budget Estimates: Hogs, Wean to Finish (per head)

Category Low 33% Profitability Group Mid 33% Profitability Group High 34% Profitability Group
Production & Income      
Sales weight 282 284 259
Sales price per cwt. 69.82 68.5 78.53
Product income 196.89 194.54 203.59
Gross income 196.89 194.54 203.59
Expenses      
Purchase cost (per head) 53.36  55.69  53.22 
Purchased feed¹ 67.07 47.97 75.75
Veterinary 4.15 3.07 2.77
Supplies 1.06 0.47 0.66
Hauling and trucking 7.76 0.9 2.33
Marketing 0.18 0.22 0.75
Subtotal expense 133.58 108.32 135.48
Additional Details      
Labor Hours 0.2 0.3 0.2
Death loss percent 7.2 2.8 6.8
Months on the farm 6 6 5
Corn equivalents (bu.)¹ 7.3 8.6 6.4
Hay equivalents (tons) 0 0 0
Silage equivalents (tons) 0 0 0
¹Complete ration included in purchased feed      
Pounds 235 88 229
Cost
 40.24 15.75 43.45

 

FINPACK Budget Estimates: Sheep, Market Lamb Production (per head)

Category Average
Production & Income  
Sales quantity (head) 1.5
Sales weight 116
Price per cwt. 195.51
Product income 346.99
Cull income 22.26
Miscellaneous income 2.13
Gross income 371.38
Expenses  
Purchased feed¹ 89.23
Veterinary 8.84
Supplies 13.14
Marketing 1.32
Subtotal expense 111.21
Additional Details  
Labor Hours 5.34
Corn equivalents (bu.)¹ 8.7
Hay equivalents (tons) 0.46
Silage equivalents (tons) 0.25
¹Complete ration included in purchased feed  
Pounds 137
Cost
 18.73

 

Source: FINBIN Farm Financial Database

Data Source: Minnesota Farm Business Management (FBM) Education, Southwest Minnesota Farm Business Management Association