Livestock Enterprise Budgets
for Iowa — 2005
Prepared by Shane Ellis, Extension Specialist,
William Edwards, Extension Economist,
and John Lawrence, Extension Economist
FM 1815 Revised February 2005
Livestock Enterprise Budgets For Iowa
This publication contains estimates of production costs for common livestock enterprises in Iowa. Estimates are
intended to reflect average or above-average levels of management using common types of technology. Input prices
reflect expected average price levels during the year.
Data were drawn from farm record summaries, feed consumption research and price projections, and are intended to
be used for planning purposes only. For individual farms, expected costs and input requirements based on past results
should be substituted whenever possible.
Each budget contains estimates of the following types of costs:
Fixed costs Costs that will occur regardless of the level of production each year. They generally include such
things as depreciation, interest, taxes, and insurance on facilities, breeding livestock, and livestock equipment
and facilities. Depreciation is assumed to be 8% of the original value of facilities and equipment annually. Interest
averages 1/2 the original value of facilities over its lifetime, or 5% annually. Taxes and insurance add 1% for a total
of 14% of the original investment annually for fixed costs.
Variable costs Costs that vary according to the level of production. Interest is calculated on feed and other variable
costs for one-half the production period.
Cash costs Costs that involve a direct cash outlay. The budgets in the bulletin do not include farm-raised grain and
hay, labor or interest costs (except interest on feeder livestock) as cash costs. Cash costs on breeding livestock
and facilities represent property taxes and insurance only. For pasture, only maintenance costs are included in cash
costs.
Total costs Cash costs, plus the value of labor, return on investment, depreciation, and rental value of pasture, and
market value of farm raised grain and hay.
The budgets in this publication are based on the following price assumptions for inputs:
Corn
Corn silage
Alfalfa hay
Alfalfa-brome hay
Haylage
Unimproved pasture
Improved pasture
Soybean meal (44%)
Lamb supplement/mineral
Hog supplement/mineral
Beef supplement/mineral - urea based
Beef supplement/mineral - all natural
Dairy supplement
Dairy salt and mineral
Dairy commodities
Dairy fat
Feeder pig (50 lbs)
Yearling Steer (700-800 lbs)
Steer Calf (500-600 lbs)
2 - Livestock Enterprise Budgets for Iowa — 2005
Price
$1.95
18.00
82.75
52.00
29.00
30.00
40.00
0.08
0.15
0.14
0.08
0.18
0.10
0.16
0.09
0.30
51.00
0.96
1.10
Units
bushel
ton
ton
ton
ton
acre
acre
pound
pound
pound
pound
pound
pound
pound
pound
pound
head
pound
pound
Livestock Enterprise Summary
Page
6
6
7
7
8
9
10
Enterprise
Swine
Farrow-finish, pasture
Farrow-finish, total confinement
Farrow-finish, partial confinement
Feeder pig production, partial
confinement
Finishing feeder pigs
SEW pig prod., total confinement
Finishing SEW pigs, total
Unit
Labor
Hours
Bu. of
Corn
Required
Tons
of Hay
Required*
Tons of
Silage
Required
litter
litter
litter
litter
13
11
13
9
97
105
105
25
0
0
0
0
0
0
0
0
$348.50
$366.87
$359.84
$133.35
head
litter
head
0.5
4
0.7
9.6
13.5
9.7
0
0
0
0
0
0
$81.11
$139.16
$67.54
head
head
head
head
head
head
head
head
2
2
3
3
2
2
1.25
0.25
63
52
61
48
54
43
27
0
0.35
0
0.65
0
0.27
0
0.50
0
0
1.50
0
2.45
0
1.26
0
0
$782.52
$782.52
$689.66
$689.66
$806.43
$806.43
$545.52
$634.69
cow unit
cow unit
8
10
4
64
2.10
2.50
0
0
$182.08
$220.57
Cash
Costs**
16
16
Beef
Yearling steers, hay
Yearling steers, silage
Steer calves, hay
Steer calves, silage
Yearling heifers, hay
Yearling heifers, silage
Backgrounding steer calves, winter
Backgrounding steer calves,
summer
Cow-calf, calves sold
Cow-calf, calves fed
18
18
20
Sheep
Ewe flock, early lambs
Ewe flock, late lambs
Feeder lamb
ewe unit
ewe unit
head
6
4
1
10
8
5.2
0.4
0.3
0.02
0
0
0
$47.87
$45.23
$96.10
22
22
23
23
Dairy
12,000 lbs milk/cow
16,000 lbs milk/cow
20,000 lbs milk/cow
24,000 lbs milk/cow
cow unit
cow unit
cow unit
cow unit
65
65
70
70
71
95
104
113
6.1
6.0
6.1
6.0
8.0
7.9
8.0
8.0
$676.38
$780.94
$937.33
$1,146.91
12
12
13
13
14
14
15
15
* Does not include pasture.
** Does not include costs of corn, hay, or silage.
Iowa State University Extension —3
Swine Production Investment
1. Breeding herd investment per litter
Sow in herd
Replacement gilts ($150 each)
0.33 head
Boars
($800 each)
0.04 head
Total investment per sow
Total investment per litter (2.2 & 1.9 litters per year, per sow)
Confinement
$150
50
32
$232
$105
Pasture
$150
0.50 head
75
32
0.04 head
$257
$135
2. Building Cost Estimates (replacement cost)
Use
Farrowing
Type of Building
Pasture A-frame huts
Remodel dairy barn
Partially slotted floor-crates
Unit Size
16 huts
16 sows
20 sows
Cost per unit capacity
$300 per hut
$1,000 per crate
$2,000 per crate
Gestation
Portable on pasture
Open shelter & paved lot
Enclosed - total slot
16
16
32
sows
sows
sows
$150
$350
$450
per sow
per sow
per sow
Nursery
Remodeled barn
Barn with raised decks
Raised deck with pit
200
200
200
pigs
pigs
pigs
$25
$50
$115
per pig
per pig
per pig
Finishing
Drylot or pasture
Open shelter-drylot
Double curtain
100
200
200
market hogs
market hogs
market hogs
$30
$65
$160
per hog
per hog
per hog
3. Facilities, equipment and machinery investment for farrow to finish ($ per litter per year)
Farrowing
Gestation
Nursery
Finishing
Pasture
$300 / 2 lit/yr/hut
$150 / 1.9 lit/sow
$25 / 2 lit/yr x 7.2
$30 / 2 lit/yr x 6.3
Feed Storage
Feed Handling
Manure Handling
($10,000 x 25%)
Tractor
50 lit/yr
Total Investment
Interest, depreciation, taxes,
insurance @ 14%
=$150
= 79
= 90
= 95
Partial Confinement
$2,000 / 12 lit/yr/crate =$167
$350 / 2.2 lit/sow
= 159
$50 / 7.5 lit/yr x 8.2
= 55
$160 / 2.8 lit/yr x 7.4 = 423
50
25
15
= 50
Total Confinement
$2,000 / 12 lit/yr/crate
$450 / 2.2 lit/sow
$115 / 7.5 lit/yr x 8.2
$160 / 2.8 lit/yr x 7.4
= $167
= 205
= 126
= 423
75
40
50
($10,000 x 25%)
150 lit./yr.
=
17
75
40
75
($10,000 x 50%)
250 lit/yr
=
20
$553
$985
$1,130
$77
$138
$158
4 - Livestock Enterprise Budgets for Iowa — 2005
Swine Production Investment (continued)
4. Facilities, equipment and machinery investment for feeder pigs
Feeder Pig Production
Farrowing
Gestation
Feed Storage
$2,000 divided by 12 litters per year
$350 divided by 2.2 litters per sow
=
=
Feed Handling
Manure Handling
Tractor
$167
159
30
30
40
17
Total Investment
$443
Interest, taxes, insurance, depreciation @ 14% times investment
=
$61.99
=
$57
20
10
6
Feeder Pig Finishing
Finishing
Feed Storage, Handling
Manure Handling
Tractor
$160 divided by 2.8 head per year per space
Total Investment
$93
Interest, taxes, insurance, depreciation @ 14% times investment
=
$13.04
5. Estimated feed requirements for farrow-to-finish enterprise, including breeding herd
Pigs Per Sow
Per Year
11
13
15
17
Bushels of Corn
Per Litter
92
106
112
115
Pounds of
Supplement
Per Litter
1,400
1,500
1,600
1,700
6. Break-even selling price for farrow-to-finish if corn price is:
Corn
($ per bushel)
1.75
2.00
2.25
2.50
2.75
3.00
3.25
Supplement
($ per pound)
0.12
0.14
0.16
0.18
0.20
0.22
0.24
Total Costs
$/cwt.
36.86
39.75
42.63
45.52
48.40
51.28
54.17
Variable Costs
$/cwt.
28.74
31.62
34.51
37.39
40.28
43.16
46.04
Iowa State University Extension —5
Swine Production — One Litter
Farrow-to-Finish
Pasture
Income a/
Market Hogs
Cull Sows
(250 lb x $________/lb)
(400 lb x $________/lb)
6.80 head
0.57 head
Gross Income
$________
$________
7.80 head
0.38 head
$________
Variable Costs
Feed Costs
Corn @ $1.95 per bushel
Total
$0.00
190.40
6.00
22.00
190.40
3.00
22.00
$407.55
Veterinary and health
Fuel, repairs, utilities
Bedding, marketing, miscellaneous
Interest on variable costs @ 6.5% for 5 months
Labor @ $9.00 per hour
Supplement & minerals @ $0.14 per lb
Pasture @ $30.00 per acre
Feed Additives
97 bu
1,360
lbs
0.20 ac
Total Feed Costs
13
hours
Total Variable Costs
Fixed Costs
Machinery, facilities
Boar depreciation/replacement
Interest, insurance on breeding herd @ 10%
annually
Total Fixed Costs
Total All Costs
Break-even selling price for variable costs
b/
b/
105 bu
1,500
lbs
None
Cash
$0.00
210.00
0.00
25.00
210.00
0.00
25.00
$215.40
$439.75
$235.00
$34.00
35.00
45.00
14.13
$34.00
35.00
45.00
0.00
$25.00
50.00
30.00
14.75
$25.00
50.00
30.00
0.00
117.00
0.00
99.00
0.00
$652.68
$329.40
$658.50
$340.00
11
hours
$_____
___
$________
$77.48
10.00
$7.75
10.00
13.53
1.35
$101.01
$753.68
$_____
___
Income Over All Costs
Total
$204.75
$_____
___
Income Over Variable Costs
$________
$________
$________
Cash
$189.15
Break-even selling price for all costs
Farrow-to-Finish
Total
Confinement
$________
$158.17
10.00
$15.82
10.00
10.55
1.05
$19.10
$178.72
$26.87
$348.50
$837.22
$366.87
$________
10%
$_____
___
$________
$34.04
per cwt
$31.24
per cwt
$39.98
per cwt
$40.40
per cwt
a/ For pasture, a weaning average of 7.80 pigs is assumed, minus 0.40 death loss and 0.60 for replacement. For confinement, a weaning average
of 8.80 pigs is assumed, minus 0.60 death loss and 0.40 for replacement. Sow death loss is 5%.
b/ Cull sow income of $64.00 per litter is assumed for pasture (sows sold after 2 litters) and $42.67 per litter for total confinement (sows sold after 3
litters).
6 - Livestock Enterprise Budgets for Iowa — 2005
Swine Production — One Litter
Feeder Pig
Production
Partial Confinement
Farrow-to-Finish,
Partial Confinement
Income a/
Market Hogs
Cull Sows
(250 lb x $_____/lb x 7.80 hd)
(400 lb x $_____/lb x 0.38 hd)
Gross Income
Variable Costs
Feed Costs
Corn @ $1.95 per bushel
Supplement & minerals @ $0.14
per lb
Feed Additives
Total
$_______
$_______
Cash
Total
Cash
$204.75
$0.00
25 bu
$48.75
$0.00
1,500 lbs
210.00
25.00
210.00
25.00
415 lbs
58.10
7.00
58.10
7.00
$439.75
$235.00
$113.85
$65.10
$25.00
45.00
30.00
14.62
117.00
$25.00
45.00
30.00
0.00
0.00
$16.00
15.00
20.00
2.68
81.00
$16.00
15.00
20.00
0.00
0.00
$671.37
$335.00
$248.53
$116.10
$_______
$_______
$_______
$_______
$137.89
10.00
10.55
$13.79
10.00
1.05
$61.99
10.00
10.55
$6.20
10.00
1.05
$158.44
$24.84
$82.53
$17.25
$829.81
$359.84
$331.06
$133.35
$_______
$_______
$_______
$_______
5 months
13 hours
Total Variable Costs
Income Over Variable Costs
Fixed Costs
Machinery, facilities
Boar depreciation/replacement
Interest, insurance on breeding herd @ 10% ann.
Total Fixed Costs
Total All Costs
Income Over All Costs
Break-even selling price for variable costs
Break-even selling price for all costs
(50 lb x $____/lb x 8.20 hd) $_______
(400 lb x $___/lb x 0.38 hd) $_______
105 bu
Total Feed Costs
Veterinary and health
Fuel, repairs, utilities
Marketing, miscellaneous
Interest on variable costs @ 6.5%
Labor @ $9.00 per hour
$_______
$_______
b/
b/
3 months
9 hours
10% annually
$31.90
per cwt
$24.29
per head
$40.02
per cwt
$34.36
per head
a/ Weaning average of 8.80 pigs per litter assumed minus 0.60 head death loss (0.20 for feeder pig production) and 0.40 head for replacement gilts.
Sow death loss is 5%.
b/ Cull sow income of $42.67 per litter is assumed (sows sold after 3 litters).
Iowa State University Extension —7
Finishing Feeder Pigs — One Pig
Total
Income A/
Market hog (250 lb x $_______ per lb x 0.96 head)
$
Variable Costs
Feeder pig (50 lb)
Interest @ 6.5% for 124 days
Feed Costs
Corn @ $1.95 per bushel
Supplement & minerals @ $0.14 per lb
Feed Additives
Total Variable Costs
Income Over Variable Costs
$51.00
$1.13
$18.72
18.48
3.00
$0.00
18.48
3.00
$40.20
$21.48
$1.00
1.20
4.00
0.50
4.50
$1.00
1.20
4.00
0.00
0.00
$103.53
$79.81
9.6 bu
132 lbs
2 months
0.50 hours
$
Fixed Costs
Machinery, facilities
Total Of All Costs
Income Over All Costs
$
$51.00
$1.13
Total Feed Costs
Veterinary and medical
Fuel, repairs, utilities
Marketing, miscellaneous
Interest on feed and other costs @ 6.5%
Labor @ $9.00 per hour
Cash
$
$13.04
$1.30
$116.57
$81.11
$
$
Break-even selling price for variable costs
$43.14
per cwt.
Break-even selling price for all costs
$48.57
per cwt.
a/ Assumed death loss is 4 percent.
8 - Livestock Enterprise Budgets for Iowa — 2005
Swine Production — One Litter
Producing SEW Pigs, Total Confinement
Income a/
SEW Pigs
Cull Sows
(9 pigs x $______/head) $___________
(400 lb x $_____/lb x 0.35 hd) $___________
Variable Costs
Feed Costs
Corn @ $1.95 per bushel
Supplement & minerals @ $0.14 per lb
Feed processing & delivery @ $20.00 per ton
Total
13.5 bu
188 lbs
Cash
$26.33
26.32
9.44
$0.00
26.32
9.44
Total Feed Costs
$62.09
$35.76
Veterinary and medical
Fuel, repairs, utilities
Marketing, miscellaneous
Manure application cost
Interest on feed and other costs @ 6.5%
Labor @ $10.00 per hour, including benefits
$10.00
7.50
10.00
3.00
1.50
40.00
$10.00
7.50
10.00
3.00
0.00
0.00
$134.09
$66.26
3 months
4 hours
Total Variable Costs
$
Income Over Variable Costs
Fixed Costs
Facilities & equipment
Boar depreciation/replacement
Replacement gilts 0.38 hd @ $150 each
Interest, insurance on breeding herd @ 10% annually
Total Fixed Costs
Total Of All Costs
$46.14
10.00
57.00
12.82
$4.61
10.00
57.00
1.28
$125.95
$72.90
$260.04
$139.16
$
Income Over All Costs
Break-even selling price for variable costs
Break-even selling price for all costs
$
b/
b/
$
$10.20 per head
$24.20 per head
a/ A weaning average of 9.0 pigs per litter and all replacement gilts are purchased is assumed.
b/ Cull sow income of $36.57 per litter is assumed (sows sold after 3.5 litters).
Iowa State University Extension —9
Finishing SEW Pigs — One Pig
Total
Income a/
Market hog (250 lb x $_______ per lb x 0.96 head)
$
Variable Costs
SEW Feeder pig (12 lb)
Interest @ 6.5% for 150 days
Feed Costs
Corn @ $1.95 per bushel
Supplement & minerals @ $0.14 per lb
Pre-nursery diet
Feed Additives
Feed processing & delivery @ $20.00 per ton
9.7 bu
142 lbs
Total Feed Costs
Veterinary and medical
Fuel, repairs, utilities
Marketing, miscellaneous
Manure application cost
Interest on feed and other costs @ 6.5%
Labor @ $9.00 per hour
3 months
0.70 hours
Total Variable Costs
Income Over Variable Costs
$
$25.00
$0.67
$25.00
$0.67
$18.92
19.88
3.00
3.00
6.92
$0.00
19.88
3.00
3.00
6.92
$51.71
$32.80
$1.00
1.20
4.00
1.75
0.97
6.30
$1.00
1.20
4.00
1.75
0.00
0.00
$92.60
$66.41
$
Fixed Costs
Facilities & equipment
Cash
$
$11.28
$1.13
Total Of All Costs
$103.88
$67.54
Income Over All Costs
$
$
Break-even selling price for variable costs
$38.58
per cwt.
Break-even selling price for all costs
$43.28
per cwt.
a/ Assumed death loss is 4 percent.
10 - Livestock Enterprise Budgets for Iowa — 2005
Feed requirements and conversion rates to carry hogs
from various purchased weights to various market weights*
Purchase
wt. (lbs)
Feed
requirements
Corn
30
Supplement
Total
Conversion
Corn
40
Supplement
Total
Conversion
Corn
50
Supplement
Total
Conversion
Corn
60
Supplement
Total
Conversion
Corn
70
Supplement
Total
Conversion
Corn
80
Supplement
Total
Conversion
Corn
90
Supplement
Total
Conversion
Corn
100
Supplement
Total
Conversion
Unit
bu
lbs
lbs
lbs
lbs/cwt
190 lbs
7.9
441
96
537
336
200 lbs
8.5
478
102
580
341
210 lbs
9.2
515
109
624
347
220 lbs
9.9
554
116
670
353
230 lbs
10.6
595
123
718
359
240 lbs
11.4
636
131
767
365
250 lbs
12.1
680
138
818
372
bu
lbs
lbs
lbs
lbs/cwt
7.6
426
89
515
343
8.2
462
96
558
349
8.9
500
102
602
354
9.6
539
109
648
360
10.3
579
117
696
366
11.1
621
124
745
372
11.9
664
132
796
379
bu
lbs
lbs
lbs
lbs/cwt
7.2
406
85
491
351
7.9
443
91
534
356
8.6
480
98
578
361
9.3
520
104
624
367
10
560
112
672
373
10.8
602
119
721
379
11.5
645
127
772
386
bu
lbs
lbs
lbs
lbs/cwt
6.9
386
79
465
358
7.5
422
86
508
363
8.2
460
92
552
368
8.9
499
99
598
374
9.6
539
107
646
380
10.4
581
114
695
386
11.1
624
122
746
393
bu
lbs
lbs
lbs
lbs/cwt
6.5
363
74
437
364
7.1
400
80
480
369
7.8
437
87
524
374
8.5
476
94
570
380
9.2
517
101
618
386
10
558
109
667
392
10.8
602
116
718
399
bu
lbs
lbs
lbs
lbs/cwt
6.1
339
68
407
370
6.7
376
74
450
375
7.4
413
81
494
380
8.1
452
88
540
386
8.8
493
95
588
392
9.5
534
103
637
398
10.3
578
110
688
405
bu
lbs
lbs
lbs
lbs/cwt
5.6
314
61
375
375
6.2
350
68
418
380
6.9
388
74
462
385
7.6
427
81
508
391
8.3
467
89
556
397
9.1
509
96
605
403
9.9
552
104
656
410
bu
lbs
lbs
lbs
lbs/cwt
5.1
287
55
342
380
5.8
324
61
385
385
6.5
362
68
430
391
7.2
401
75
476
397
7.9
441
82
523
402
8.6
482
90
572
409
9.4
526
97
623
415
*Feed efficiency varies considerably depending on environmental temperatures, disease level, ration fed, quality of management, and death loss.
The feed requirements here are for hogs with good performance under excellent management. These figures assume zero mortality; correction for
mortality is made when you complete the worksheet in Table 1.
Source: Pork Production Systems With Business Analysis. Pork Industry Handbook-17. Cooperative Extension Service AS-443.
Iowa State University Extension —11
Finishing Yearling Steers — One Head
Corn and
Hay Ration
Total
Cash
Income
Sales income (1,250 lbs @ $________)
Minus death loss (-0.75% of sales)
$________
-$_______
$________
-$_______
$________
-$________
$________
-$________
$________
$________
$________
$________
750 lbs
160 days
$720.00
20.52
$720.00
20.52
750 lbs
160 days
$720.00
20.52
$720.00
20.52
63 bu
120 lbs
0.35 tons
$122.85
9.60
18.20
0.00
$0.00
9.60
0.00
0.00
52 bu
120 lbs
$101.40
9.60
0.00
27.00
$0.00
9.60
0.00
0.00
$150.65
$9.60
$138.00
$9.60
$8.00
7.00
16.00
2.59
18.00
$8.00
7.00
16.00
0.00
0.00
$8.00
7.00
16.00
2.41
18.00
$8.00
7.00
16.00
0.00
0.00
$942.75
$781.12
$929.92
$781.12
$________
$________
$________
$________
$14.00
$1.40
$14.00
$1.40
$956.75
$782.52
$943.92
$782.52
$________
$________
$________
$________
Gross Income
Variable Costs
Feeder Cost @ $0.96 per lb
Interest @ 6.5%
Feed Costs
Corn @ $1.95 per bushel
Supplement & minerals @ $0.08 per lb
Alfalfa - brome hay @ $52.00 per ton
Corn Silage @ $18.00 per ton
Total Feed Costs
Veterinary and health
Machinery and equipment
Marketing and miscellaneous
Interest on feed & other costs @ 6.5%
Labor @ $9.00 per hour
80 days
2 hours
Total Variable Costs
Income Over Variable Costs
Fixed Costs
Machinery, equipment, housing
Total All Costs
Income Over All Costs
Corn and
Silage Ration
Total
Cash
1.50 tons
80 days
2 hours
Break-even selling price for variable
costs
$0.76
per lb.
$0.75
per lb.
Break-even selling price for all costs
$0.77
per lb.
$0.76
per lb.
12 - Livestock Enterprise Budgets for Iowa — 2005
Finishing Steer Calves — One Head
Corn and
Hay Ration
Total
Cash
Income
Sales income (1,150 lbs @ $________)
Minus death loss (-1.00% of sales)
$________
-$_______
$________
-$_______
$________
-$_______
$________
-$_______
$________
$________
$________
$________
550 lbs
230 days
$605.00
24.78
$605.00
24.78
550 lbs
230 days
$605.00
24.78
$605.00
24.78
61 bu
75 lbs
116 lbs
0.65 tons
$118.95
13.50
9.28
33.80
0.00
$0.00
13.50
9.28
0.00
0.00
48 bu
75 lbs
116 lbs
$93.60
13.50
9.28
0.00
44.10
$0.00
13.50
9.28
0.00
0.00
$175.53
$22.78
$160.48
$22.78
$10.00
11.00
14.00
4.31
27.00
$10.00
11.00
14.00
0.00
0.00
$10.00
11.00
14.00
4.00
27.00
$10.00
11.00
14.00
0.00
0.00
$871.62
$687.56
$856.26
$687.56
$________
$________
$________
$________
$21.00
$2.10
$21.00
$2.10
$892.62
$689.66
$877.26
$689.66
$________
$________
$________
$________
Gross Income
Variable Costs
Feeder Cost @ $1.10 per lb
Interest @ 6.5%
Feed Costs
Corn @ $1.95 per bushel
Supplement & minerals @ $0.18 per lb
Supplement & minerals @ $0.08 per lb
Alfalfa - brome hay @ $52.00 per ton
Corn Silage @ $18.00 per ton
Total Feed Costs
Veterinary and health
Machinery and equipment
Marketing and miscellaneous
Interest on feed & other costs @ 6.5%
Labor @ $9.00 per hour
Total Variable Costs
Income Over Variable Costs
Fixed Costs
Machinery, equipment, housing
Total All Costs
Income Over All Costs
Corn and
Silage Ration
Total
Cash
115 days
3 hours
2.45 tons
115 days
3 hours
Break-even selling price for variable
costs
$0.77
per lb.
$0.75
per lb.
Break-even selling price for all costs
$0.78
per lb.
$0.77
per lb.
Iowa State University Extension —13
Finishing Yearling Heifers — One Head
Corn and
Hay Ration
Total
Cash
Income
Sales income (1,100 lb @ $________)
Minus death loss (-0.75% of sales)
Gross Income
Variable Costs
Feeder Cost @ $1.07 per lb
Interest @ 6.5%
Feed Costs
Corn @ $1.95 per bushel
Supplement & minerals @ $0.08 per lb
Alfalfa - brome hay @ $52.00 per ton
Corn Silage @ $18.00 per ton
$________
-$_______
$________
-$_______
$________
-$________
$________
-$________
$________
$________
$________
$________
700 lbs
155 days
$749.00
20.67
$749.00
700 lbs
20.67 155 days
$749.00
20.67
$749.00
20.67
54 bu
117 lbs
0.27 tons
$105.30
9.36
14.04
0.00
$0.00
43 bu
9.36
117 lbs
0.00
0.00 1.26 tons
$83.85
9.36
0.00
22.68
$0.00
9.36
0.00
0.00
$128.70
$9.36
$115.89
$9.36
$6.00
8.00
12.00
2.15
18.00
$6.00
8.00
12.00
0.00
0.00
$6.00
8.00
12.00
1.97
18.00
$6.00
8.00
12.00
0.00
0.00
$944.52
$805.03
$931.54
$805.03
$________
$________
$________
$________
$14.00
$1.40
$14.00
$1.40
$958.52
$806.43
$945.54
$806.43
$________
$________
$________
$________
Total Feed Costs
Veterinary and health
Machinery and equipment
Marketing and miscellaneous
Interest on feed & other costs @ 6.5%
Labor @ $9.00 per hour
78 days
2 hours
Total Variable Costs
Income Over Variable Costs
Fixed Costs
Machinery, equipment, housing
Total All Costs
Income Over All Costs
Corn and
Silage Ration
Total
Cash
78 days
2 hours
Break-even selling price for variable
costs
$0.87
per lb.
$0.85
per lb.
Break-even selling price for all costs
$0.88
per lb.
$0.87
per lb.
14 - Livestock Enterprise Budgets for Iowa — 2005
Backgrounding Steer Calves — One Head
Winter
Corn and
Hay Ration
Total
Cash
Income
Sales income (750 lb @ $________)
Minus death loss (-1.00% of sales)
Summer
Improved
Pasture
Total
Cash
$________
-$_______
$________
-$_______
$________
-$_______
$________
-$_______
$________
$________
$________
$________
450 lbs
150 days
$495.00
13.22
$495.00
13.22
$577.50
15.43
$577.50
15.43
Feed Costs
Corn @ $1.95 per bushel
27 bu
Supplement & minerals @ $0.18 per lb
80 lbs
Alfalfa - brome hay @ $52.00 per ton
0.5 tons
Improved pasture @ $40.00 per acre
Pasture fert, misc costs @ $20.00 per ac.
$52.65
14.40
26.00
0.00
0.00
$0.00
14.40
0.00
0.00
0.00
$0.00
6.30
0.00
28.00
14.00
$0.00
6.30
0.00
0.00
14.00
$93.05
$14.40
$48.30
$20.30
$5.00
4.50
12.00
1.53
11.25
$5.00
4.50
12.00
0.00
0.00
$5.00
4.25
12.00
0.93
2.25
$5.00
4.25
12.00
0.00
0.00
$635.55
$544.12
$665.66
$634.48
$________
$________
$________
$________
$14.00
$1.40
$2.10
$0.21
$649.55
$545.52
$667.76
$634.69
$________
$________
$________
$________
Gross Income
Variable Costs
Feeder Cost @ $1.10 per lb
Interest @ 6.5%
Total Feed Costs
Veterinary and health
Machinery and equipment
Marketing and miscellaneous
Interest on feed & other costs @ 6.5%
Labor @ $9.00 per hour
75 days
1.25 hours
Total Variable Costs
Income Over Variable Costs
Fixed Costs
Machinery, equipment, housing
Total All Costs
Income Over All Costs
525 lbs
150 days
35 lbs
0.7 acres
0.7 acres
75 days
0.25 hours
Break-even selling price for variable costs
$0.86
per lb.
$0.90
per lb.
Break-even selling price for all costs
$0.87
per lb.
$0.90
per lb.
Iowa State University Extension —15
Beef Cow-Calf — One Cow Unit
a/
Hay and Pasture
Calves Sold
Total
Cash
Income
Heifer calf (0.26 head x 500 lb x $_______/lb)
Steer calf (0.46 head x 550 lb x $_______/lb)
Cull cow (0.18 head x 1,350 lb x $_______/lb)
$______
$______
$______
Gross Income
Hay and Pasture
Calves Fed
Total
Cash
$______ 1,000 lbs x $____/lb $_____
$______ 1,100 lbs x $____/lb $_____
$______ 1,150 lbs x $____/lb $_____
$______
$_____
$75.00
50.00
7.80
9.00
0.00
109.20
12.00
$37.50
50.00
0.00
9.00
0.00
0.00
0.00
$263.00
$_____
$_____
$_____
$_______
$_____
$75.00
50.00
124.80
19.80
9.20
130.00
12.00
$37.50
50.00
0.00
19.80
9.20
0.00
0.00
$96.50
$420.80
$116.50
$25.00
15.00
20.00
10.50
72.00
$25.00
15.00
20.00
0.00
0.00
$30.00
23.00
25.00
24.32
90.00
$30.00
23.00
25.00
0.00
0.00
$405.50
$156.50
$613.12
$194.50
Income Over Variable Costs
$_____
$_____
$_______
$_____
Fixed Costs
Machinery, equipment, fences
Interest, insurance on herd @ 10% annually
Bull depreciation/replacement
$40.60
95.20
12.00
$4.06
9.52
12.00
$45.50
95.20
12.00
$4.55
9.52
12.00
$147.80
$25.58
$152.70
$26.07
Total Of All Costs
$553.30
$182.08
$765.82
$220.57
Income Over All Costs
$_____
$_____
$_______
$_____
Variable Costs
Feed Costs
Pasture @ $30.00 per acre
Pasture fert, misc costs @ $20 per ac.
Corn @ $1.95 per bushel
Supplement & minerals @ $0.18 per lb
Supplement & minerals @ $0.08 per lb
Alfalfa - brome hay @ $52.00 per ton
Corn stalks @ $3.00 per acre
2.5 acres
2.5 acres
4 bu
50 lbs
2.1 tons
4 acres
Total Feed Costs
Veterinary and health
Machinery, equipment, fuel and repairs
Marketing and miscellaneous
Interest on feed & other costs @ 6.5%
Labor @ $9.00 per hour
6 months
8 hours
Total Variable Costs
Total Fixed Costs
Break-even selling price for variable costs
Break-even selling price for all costs
b/
b/
2.5 acres
2.5 acres
64 bu
110 lbs
115 lbs
2.5 tons
4 acres
9 months
10 hours
$0.74
per lb.
$0.64
per lb.
$1.13
per lb.
$0.84
per lb.
a/ A cow-calf unit is 1 cow, 0.2 bred heifer, 0.9 calf, and 0.04 bull. Calf crop weaned of 92% of cows in herd, 20% replacement and 2% death rate on
replacement heifers and cows are assumed.
b/ Assumes yearly cull cow sales of $93.15.
16 - Livestock Enterprise Budgets for Iowa — 2005
Beef Cow-Calf Investment
1. Breeding herd investment per cow unit
Beef cow
$750.00
Replacement heifer
Bull
($650 x 0.20 head per cow unit)
$130.00
$72.00
($1,800 divided by 25 cows)
Per cow unit
$952.00
2. Bull replacement cost per cow unit
Bull cost,
$1,800
minus cull value,
$900
divided by cows,
25 cows
divided by number of years
3 years
$12.00
3. Facilities and machinery investment (50 - cow herd) (replacement cost)
Utility tractor
($10,000 x 25% cow use)
$2,500
Hay moving equipment
$2,000
Handling facilities
$3,000
Fences
$5,000
($40.00 per acre x 125 acres)
$2,000
Feeders and waterers
Total
Total investment per cow
$14,500
(50 cow herd)
Depreciation, interest, taxes, insurance @ 14% annually
$290
$41
Iowa State University Extension —17
Ewe Flock — One Ewe a/
Early Lambing
(Jan-Feb)
Total
Cash
Income
lambs: 1.24 head x 125 lb x $_____/lb
cull ewes: 0.15 head x 150 lb x $_____ /lb
wool: 9 lb x $_____/lb
Late Lambing
(Apr-May)
Total
Cash
$______
$______
$______
$______ 1.33 hd x 125 lbs $_____
$______ 0.15 hd x 150 lbs $_____
$______
11 lbs $_____
$________
$________
$________
$______
$______
$_____
$________
$19.50
15.00
20.80
6.00
4.00
$0.00
15.00
0.00
3.00
4.00
$15.60
9.00
15.60
9.00
6.00
$0.00
9.00
0.00
4.50
6.00
$65.30
$22.00
$55.20
$19.50
$8.00
5.00
5.00
2.71
54.00
$8.00
5.00
5.00
0.00
0.00
$9.00
4.00
5.00
2.38
36.00
$9.00
4.00
5.00
0.00
0.00
$140.01
$40.00
$111.58
$37.50
$______
$______
$______
$________
$11.85
$1.19
$10.55
$1.05
10.80
5.60
1.08
5.60
10.80
5.60
1.08
5.60
$28.25
$7.87
$26.95
$7.73
Total Of All Costs
$168.26
$47.87
$138.53
$45.23
Income Over All Costs
$______
$______
$______
$________
Gross Income
Variable Costs
Feed Costs
Corn @ $1.95 per bushel
Supplement & minerals @ $0.15 per lb
Alfalfa - brome hay @ $52.00 per ton
Pasture @ $30.00 per acre
Pasture fert, misc @ $20.00 per acre
10 bu
100 lbs
0.4 tons
0.2 acres
0.2 acres
Total Feed Costs
Veterinary, medical, shearing
Machinery and equipment operating
Marketing and miscellaneous
Interest on feed & other costs @ 6.5%
Labor @ $9.00 per hour
6 months
6 hours
Total Variable Costs
Income Over Variable Costs
Fixed Costs
Machinery, equipment, housing, fencing
Int., ins. on breeding flock @ 10% annually
Ram replacement
Total Fixed Costs
Break-even selling price for variable costs
Break-even selling price for all costs
b/
b/
8 bu
60 lbs
0.3 tons
0.3 acres
0.3 acres
6 months
4 hours
10%
annually
$0.82
per lb.
$0.59
per lb.
$1.00
per lb.
$0.75
per lb.
a/ 160% (early) or 170% (late) lamb crop, 20% replacement rate. One unit includes one ewe, 0.2 replacement ewe, 1.6 lambs, and 0.04 ram.
Death loss of 10% for lambs weaned and 5% for ewes and ewe lambs assumed.
b/ Assumes cull ewe income of $8.00 and wool income of $4.50 (early) or $5.50 (late) per unit.
18 - Livestock Enterprise Budgets for Iowa — 2005
Ewe Flock Investment
1. Breeding flock investment per ewe unit
Ewe
$80.00
Replacement ewe lamb
Ram
($70.00 x 0.20 per ewe)
$14.00
($350.00 divided by 25 ewes)
$14.00
Total
$108.00
per
unit
2. Ram replacement cost per ewe unit
Ram cost,
$350.00
minus cull
value,
$70.00
divided by number of
ewes,
25 ewes
divided by
years
2 years
$5.60
per unit
3. Facilities and machinery investment (150 ewes) (replacement cost)
Early
Lambing
$2,500
Late
Lambing
$2,500
$1,200
$1,800
Feed Storage
$2,000
$2,000
Barns, pens, feeders, etc.
$7,000
$5,000
$12,700
$11,300
$84.67
$75.33
$11.85
$10.55
Utility tractor
Fences
($10,000 x 25% use for sheep)
($40.00 per acres times 30 acres or 45 acres)
Total
Total investment per ewe
(150 ewe flock)
Depreciation, interest, taxes, insurance @ 14% annually
Iowa State University Extension —19
Feeder Lamb -- One Head
Total
Cash
$________
$________
-$________
$________
$________
-$________
$________
$________
70 lbs
100 days
$78.40
1.40
$78.40
1.40
290 lbs
32 lbs
35 lbs
$10.10
4.80
0.91
$0.00
4.80
0.00
$15.81
$4.80
$5.00
1.00
2.00
0.25
9.00
$5.00
1.00
2.00
0.00
0.00
$112.86
$92.60
$________
$________
$3.50
$3.50
$116.36
$96.10
$________
$________
Income
Sale of lamb (125 lbs @ $_____ per lb)
Sale of wool (3 lbs @ $_____ per lb)
Minus death loss (2.0% of sale income)
Gross Income
Variable Costs
Feeder cost @ $1.12 per lb
Interest @ 6.5%
Feed Costs
Corn @ $1.95 per bushel
Supplement & minerals @ $0.15 per lb
Alfalfa - brome hay @ $52.00 per ton
Total Feed Costs
Veterinary, medical, shearing
Machinery and equipment
Marketing, miscellaneous
Interest on feed & other costs @ 6.5%
Labor @ $9.00 per hour
60 days
1.0 hours
Total Variable Costs
Income Over Variable Costs
Fixed Costs
Machinery, equipment, housing
Total Of All Costs
Income Over All Costs
Break-even selling price for variable costs
Break-even selling price for all costs
a/
a/
a/ Assumes wool income of $3.00 per head and death loss of 2%.
20 - Livestock Enterprise Budgets for Iowa — 2005
$0.90
per lb.
$0.93
per lb.
Lamb Feed Requirements
Table 1. Feed Requirement and Portion of Year on Feed to Finish Lamb to 110 lb.
Beginning
Wt. of Feeder,
lb
Corn
Bu
Lb
Supplement
(32-36%),
lb
Hay
60
3.60
202
39
35
100
5.50
65
3.37
189
34
30
90
5.65
70
3.12
175
29
25
80
5.70
75
2.81
157
24
22
70
5.85
80
2.50
140
19
18
60
5.90
85
2.16
121
15
14
50
6.05
lb
Days on
Feed
lb feed per
lb of gain
Table 2. Approximate Feed Requirement When Feeding Complete Pelleted Rations
Beginning
Wt. of Feeder,
lb
Lb feed per
Complete
Time on Feed
lb of gain
Feed-pelleted (lb)
60
5.70
285
90
0.25
65
5.80
261
82
0.22
70
5.90
236
73
0.20
75
6.00
210
64
0.18
80
6.10
183
55
0.15
85
6.20
155
45
0.12
Days
Portion of year
Table 3. Approximate Feed Requirement When Feeding Low Roughage
Mainly Corn and Supplement Rations
Beginning
Wt. of Feeder,
lb
Time on Feed
Roughage
Grain
Supplement
Days
75
15
158
24
67
0.18
80
13
139
19
58
0.16
85
10
120
15
48
0.13
Portion of year
Iowa State University Extension —21
Grade A Dairy — One Cow Unit
12,000 lb of milk
per cow annually
Total
Cash
Income
Milk sales 120 cwt x $_____/cwt a/
Cull cow 0.36 head x 1,300 lb x $_____/lb
Dairy calf 0.49 head x $_____/hd
Replacement heifer 0.12 head x $______/hd
$________
$________
$________
$________
$________ 160 cwt of milk a/
$________ 0.35 hd x 1,350 lb
$________
0.50 head
$________
0.15 head
$________
$________
$________
$________
$________
$________
$________ $________
71 bu
8.0 tons
6.1 tons
$138.45
144.00
504.78
$0.00
0.00
0.00
149 lbs
405 lbs
0 lbs
0 lbs
23.84
40.50
0.00
0.00
90.00
23.84
40.50
0.00
0.00
90.00
$941.57
$154.34
$48.00
90.00
130.00
24.00
21.00
140.00
22.66
585.00
$48.00
90.00
130.00
24.00
21.00
140.00
0.00
0.00
$2,002.23
$607.34
$________
$________
$520.00
170.40
$52.00
17.04
$690.40
Gross Income
Variable Costs
Feed Costs
Corn equivalents @ $1.95 per bushel
Corn Silage @ $18.00 per ton
Hay equivalents @ $82.75 per ton
Salts and minerals @ $0.16 per lb
Protein supplement @ $0.10 per lb
Cottonseed @ $0.09 per lb
Fat @ $0.30 per lb
Milk replacer, calf starter
Total Feed Costs
Hauling @ $0.40 per cwt
Veterinary and health
Fuel, utilities and repairs
DHIA & accounting
Breeding fees
Bedding, supplies and miscellaneous
Interest on feed, other costs @ 6.5%
Labor @ $9.00 per hour
120 cwt
3 months
65 hours
Total Variable Costs
Income Over Variable Costs
Fixed Costs
Machinery, equipment, facilities
Interest, insurance on herd @ 10% annually
Total Fixed Costs
Total Of All Costs
Income Over All Costs
Income from cull cows, calves, and heifers
16,000 lb of milk
per cow annually
Total
Cash
95 bu
7.9 tons
6.0 tons
212 lbs @
$0.15/lb
891 lbs
214 lbs
0 lbs
160 cwt @
$0.34 /cwt
3 months
65 hours
$________
$________
$________
$________
$185.25
142.20
496.50
$0.00
0.00
0.00
31.80
89.10
19.26
0.00
90.00
31.80
89.10
19.26
0.00
90.00
$1,054.11
$230.16
$54.40
90.00
140.00
26.00
28.00
140.00
24.90
585.00
$54.40
90.00
140.00
26.00
28.00
140.00
0.00
0.00
$2,142.41
$708.56
$________ $________
$520.00
203.75
$52.00
20.38
$69.04
$723.75
$72.38
$2,692.63
$676.38
$2,866.16
$780.94
$________
$________
$260.00
10% annually
$________ $________
$280.00
Break-even selling price for variable costs
$14.52 per cwt
$11.64 per cwt
Break-even selling price for all costs
$20.27
$16.16
per cwt
a/ Milk price per cwt. is a total based on the following price components: butterfat, protein, other solids, producer price differential,
quality, volume, and capital payout.
22 - Livestock Enterprise Budgets for Iowa — 2005
per cwt
Grade A Dairy — One Cow Unit
20,000 lb of milk
per cow annually
Total
Cash
Income
Milk sales 200 cwt x $_____/cwt a/
Cull cow 0.36 head x 1,350 lb x $_____/lb
Dairy calf 0.51 head x $_____/hd
Replacement heifer 0.18 head x $______/hd
Gross Income
Variable Costs
Feed Costs
Corn equivalents @ $1.95 per bushel
Corn Silage @ $18.00 per ton
Hay equivalents @ $82.75 per ton
Salts and minerals @ $0.14 per lb
Protein supplement @ $0.10 per lb
Cottonseed @ $0.09 per lb
Fat @ $0.30 per lb
Milk replacer, calf starter
104 bu
8.0 tons
6.1 tons
242 lbs
1,285 lbs
725 lbs
26 lbs
Total Feed Costs
Hauling @ $0.30 per cwt
Veterinary and health
Fuel, utilities and repairs
DHIA & accounting
Breeding fees
Bedding, supplies and miscellaneous
Interest on feed, other costs @ 6.5%
Labor @ $9.00 per hour
$________
$________
$________
$________
$________ 240 cwt of milk a/
$________ 0.39 hd x 1,400 lb
$________
0.52 head
$________
0.21 head
$________
$________
$________
$________
$________
$________
$________
$________
$________
$________
$________
$________
$220.35
144.00
496.50
41.99
185.50
122.49
33.30
90.00
$0.00
0.00
0.00
41.99
185.50
122.49
33.30
90.00
$1,334.13
$473.28
$66.00
118.00
160.00
30.00
50.00
170.00
31.33
$66.00
118.00
160.00
30.00
50.00
170.00
0.00
630.00
0.00
$202.80
144.00
504.78
33.88
128.50
65.25
7.80
90.00
$1,177.01
200 cwt
3 months
70
hours
Total Variable Costs
Income Over Variable Costs
Fixed Costs
Machinery, equipment, facilities
Interest, insurance on herd @ 10% annually
Total Fixed Costs
Total Of All Costs
Income Over All Costs
Income from cull cows, calves, and heifers
24,000 lb of milk
per cow annually
Total
Cash
$60.00
98.00
150.00
28.00
40.00
160.00
27.84
$0.00
113 bu
0.00
8.0 tons
0.00
6.0 tons
33.88 323 lbs @ $0.13/lb
128.50
1,855 lbs
65.25
1,361 lbs
7.80
111 lbs
90.00
$325.43
$60.00 240 cwt @ $0.28 /cwt
98.00
150.00
28.00
40.00
160.00
0.00
3 months
630.00
0.00
$2,370.84
$861.43
$2,589.46
$1,067.28
$________
$________
$________
$________
$520.00
239.00
$52.00
23.90
$520.00
276.30
$52.00
27.63
$759.00
$75.90
$796.30
$79.63
$3,129.84
$937.33
$3,385.76
$1,146.91
$________
$________
$________
$________
$300.00
70 hours
10% annually
$320.00
Break-even selling price for variable costs
$10.35 per cwt
$9.46 per cwt
Break-even selling price for all costs
$14.15 per cwt
$12.77 per cwt
a/ Milk price per cwt. is a total based on the following price components: butterfat, protein, other solids, producer price differential,
quality, volume, and capital payout.
Iowa State University Extension —23
Dairy Investment
1. Breeding herd investment per cow unit
Dairy cow
Replacement dairy heifer
Replacement dairy calf
12,000 lb milk
per cow annually
1.00 hd @ $1,200
$1,200
0.34 hd @ $1,000
340
164
0.41 hd @ $400
16,000 lb milk
per cow annually
1.00 hd @ $1,400
$1,400
0.37 hd @ $1,200
444
194
0.43 hd @ $450
$1,704
$2,038
20,000 lb milk
per cow annually
1.00 hd @ $1,600
$1,600
0.40 hd @ $1,400
560
230
0.46 hd @ $500
24,000 lb milk
per cow annually
1.00 hd @ $1,800
$1,800
0.43 hd @ $1,600
688
275
0.50 hd @ $550
$2,390
$2,763
Total investment per cow unit
Dairy cow
Replacement dairy heifer
Replacement dairy calf
Total investment per cow unit
2. Facilities, equipment and machinery investment (replacement cost)
12,000 lb
16,000 lb
Dairy barn, pens, shelter
$125,000
$125,000
Milk house, stanchion, cooler, etc
35,000
35,000
Feed storage
40,000
40,000
Utility tractor
30,000
30,000
30,000
30,000
Manure and feed handling equipment
Total Investment
20,000 lb
$125,000
35,000
40,000
30,000
30,000
24,000 lb
$125,000
35,000
40,000
30,000
30,000
$260,000
$260,000
$260,000
$260,000
Total investment per cow for 70 cow herd
$3,714
$3,714
$3,714
$3,714
Deprec., int., taxes, ins. @ 14% annually
$520
$520
$520
$520
3. Feed requirements per cow unit
Pounds of milk per year
Corn silage (tons)
Hay equivalents (tons)
Corn equivalents (bu)
Protein supplement (lb)
Salt and mineral (lb)
Whole (linted) cottonseed (lb)
Fat (lb)
12,000 lb
8.0
6.1
71
405
149
0
0
16,000 lb
7.9
6.0
95
891
212
214
0
20,000 lb
8.0
6.1
104
1285
242
725
26
File: Economics 1-8
. . . and justice for all
The U.S. Department of Agriculture (USDA) prohibits discrimination in all its programs and activities on the basis of race, color,
national origin, gender, religion, age, disability, political beliefs, sexual orientation, and marital or family status. (Not all prohibited
bases apply to all programs.) Many materials can be made available in alternative formats for ADA clients. To file a complaint of
discrimination, write USDA, Office of Civil Rights, Room 326-W, Whitten Building, 14th and Independence Avenue, SW, Washington, DC 20250-9410 or call 202-720-5964.
Issued in furtherance of Cooperative Extension work, Acts of May 8 and June 30, 1914, in cooperation with the U.S. Department
of Agriculture. Stanley R. Johnson, director, Cooperative Extension Service, Iowa State University of Science and Technology,
24 - Livestock Enterprise Budgets for Iowa — 2005
24,000 lb
8.0
6.0
113
1855
323
1361
111