Alfalfa Hay Planning Budget

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

See Forage Budgets workbook (XLSX) for related information.

Ryan Milhollin
Associate Extension Professor, Agricultural Business and Policy

C. Tim Schnakenberg
Field Specialist in Agronomy

Carson Roberts
Assistant Research Professor, Forage Agronomy

Katie Neuner
Field Specialist in Agricultural Business

Abstract

Using this planning budget, farmers growing alfalfa hay can estimate their costs and returns for 2027. Detailed alfalfa establishment costs are found in MU Extension publication G661, Alfalfa Establishment Planning Budget. Table 1 presents estimates for established conventional alfalfa that is baled into small square or large round bales. Assumptions were based on price forecasts as of October 2026. 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 can modify this budget based on their circumstances. Use the “Your estimate” column to plan your operation’s costs and returns for 2027.

Topics

• Alfalfa small square bales
• Alfalfa large round bales
• Crop budget
• Farm budget

Pages

• 2