Editor’s note
The following abstract describes a publication that is only available as a downloadable PDF.

See Missouri Forage Budgets (XLSX) for related information.

Ryan Milhollin
Assistant Extension Professor, Agricultural Business and Policy

Drew Kientzy
Research Analyst, Agricultural Business and Policy

C. Tim Schnakenberg
Field Specialist in Agronomy


Using this planning budget, farmers growing alfalfa can estimate their costs and returns associated with producing small square bales in 2024. Establishment costs for alfalfa can be found in MU Extension publication G661, Alfalfa Establishment Planning Budget. Table 1 presents estimates for established Roundup Ready alfalfa with small bale production. Assumptions were based on price forecasts as of October 2023. Detailed prices and practices are summarized in Tables 2 and 3. The production practices used to develop these cost estimates are common on Missouri farms. Farmers are encouraged to modify this budget based on their circumstances. For example, an alfalfa large round bale planning budget could be developed by modifying machinery activities and hay sales. Use the “Your estimate” column to plan your operation’s costs and returns for 2024.


  • Alfalfa small bales
  • Crop budget
  • Farm budget


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