Alfalfa Establishment Budget

	B	C	D	E	F	G	H	I	J	L	M
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2	Table 1. Estimated Cost of Establishment for Alfalfa in Bermudagrass								Southeast US, 2018-2019
3		Item	Description	Unit	Quantity	$/unit	$/acre	$/50 acres	% of Costs
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5	Estimated Variable Costs
6		Soil Test	(1 sample per 20 acres)	acre	0.05	$7.00	$0.35	$17.50	0.08%	50	acres
7		Seed	Alfalfa	lbs.	25.00	$4.75	$118.75	$5,937.50	28.00%	3	Useful life (years)
8		Fertilizer, Animal Manure	Broiler Litter (60N, 60P, 40K)	tons	0.00	$30.00	$0.00	$0.00	0.00%
9			Broiler Litter Application	tons	0.00	$8.00	$0.00	$0.00	0.00%
10		Fertilizer, Commercial	Nitrogen (N)	lbs.	0.00	$0.56	$0.00	$0.00	0.00%
11			Phosphorus (P)	lbs.	130.00	$0.34	$44.20	$2,210.00	10.42%
12			Potassium (K)	lbs.	200.00	$0.43	$86.00	$4,300.00	20.28%
13			Micronutrient Package	lbs.	5.00	$1.05	$5.25	$262.50	1.24%
14			Fertilizer Procurement	miles	50.00	$0.75	$0.75	$37.50	0.18%
15			Commerical Fertilizer Application	acre	1.00	$8.00	$8.00	$400.00	1.89%
16		Lime	(Prorated over 5 years)	tons	0.40	$32.00	$12.80	$640.00	3.02%
17		Custom Lime Spread	(Prorated over 5 years)	acre	0.20	$8.00	$1.60	$80.00	0.38%
18		Weed Control	Chemicals	acre	1.00	$7.23	$7.23	$361.50	1.70%
19			Custom Weed Control Application	acre	1.00	$5.25	$5.25	$262.50	1.24%
20		Mach. & Equipment	Maint., Fuel, Oil, Lube	acre	1.00	$13.53	$13.53	$676.50	3.19%
21		Hired Labor		hours	0.25	$12.50	$3.13	$156.25	0.74%
22		Forage Tests	(1 sample per 10 acres)	acre	0.10	$7.00	$0.70	$35.00	0.17%
23		Misc. Expenses		acre	1.00	$15.00	$15.00	$750.00	3.54%
24		Interest on ½ of Operating Costs		dollars	$322.54	6.25%	$20.16	$1,007.92	4.75%
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26	Total Variable Costs						$342.69	$17,134.67	80.80%
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28	Estimated Fixed Costs
29		Mach. & Equipment	Ownership costs	acre	1.00	$11.89	$11.89	$594.50	2.80%
30		General Overhead		dollars	$342.69	7%	$23.99	$1,199.43	5.66%
31		Management Fee		dollars	$342.69	6%	$20.56	$1,028.08	4.85%
32		Land Rent		acre	1.00	$25.00	$25.00	$1,250.00	5.89%
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34	Total Fixed Costs						$81.44	$4,072.01	19.20%
35
36	Total Cost of Establishment for Alfalfa in Bermudagrass						$424.13	$21,206.68	100.00%
37
38
39	Prorated Share of Alfalfa Establishment Cost (Prorated over 3 years)						$141.38	$7,068.89	33.33%
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41	Univeristy of Florida, IFAS, Range Cattle Research and Education Center							Updated:	9/1/2018
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