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Economics of Producing Industrial Hemp in NYS, 2019 Budgets

John Hanchar, Farm Business Management
Northwest New York Dairy, Livestock & Field Crops

January 17, 2019

Summary

  • Variable costs of production estimates for 2019 are $390, $321, and $296 per acre for industrial hemp for fiber only, seed (grain) only, and dual purpose fiber and seed (grain), respectively.
  • Total costs of production estimates for 2019 are $546, $486, and $491 per acre for industrial hemp for fiber only, seed (grain) only, and dual purpose fiber and seed (grain), respectively.
  • Returns above total costs estimates for 2019 are $248, $624, and $867 per acre for industrial hemp for fiber only, seed (grain) only, and dual purpose fiber and seed (grain), respectively.





Industrial Hemp Production Budgets, NYS, 2019 (pdf; 280KB)
  • Download the 2019 Budgets to help make decisions regarding industrial hemp's place in your croppinig systems



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Design Your Succession Plan

November 2, 2021
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How will your family farm operate in the future when the owner retires or is gone? Are you currently working with another generation who may be questioning their role in the future of the farm or are you yourself questioning your current role? Join Cornell Cooperative Extension across New York State, the Central NY Dairy & Field Crops Team, and the Capital Area Ag & Horticulture Program, for our 6-part webinar series November 2, 2021 - December 14, 2021.

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December 2, 2021

A primer for beginning farmers, or a tune-up for those already in production, on recording income and annual expenses, capital expenditures and depreciation with additional information covering loans & credit card or revolving loan payments, sales of business assets, and deducting losses.

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The NWNY Team Blog!

Our goal for this blog is to share with farmers and allied industry professionals, technical and applicable resources regarding all aspects of dairy farming, livestock and small farms, field crops and soils, and topics related to farm business management and precision agriculture.

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