{"text_format":"1","workbook":"xlsx","n_sheets":5,"sheets":["Intro","Mound Valley Production","Mound Valley Budget","Projected production","Projected budget"],"not_rendered":{"charts":4,"images":3,"macros":1,"external_links":0,"defined_names":0,"comments":0,"pivot_tables":0},"unopened":[],"bounds":{"document_bytes":16777216,"sheet_cells":100000,"rows_first":2000,"rows_last":500,"rows_between":2000,"halvings":0,"cell_chars":16384,"cell_head_chars":4096},"cells_cut":0,"cells_raw":0,"read":"whole","date_system":"1900"}

{"sheet":"Intro","index":0,"n_rows":44,"n_cols":12,"rows_kept":44,"cut":false,"hidden":false,"merged":[[27,1,27,4],[28,1,31,11],[33,1,34,3],[43,1,43,11],[4,1,5,8],[4,13,5,23],[7,2,7,3],[7,4,7,5],[7,13,8,13]]}
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[null,"KSU-Bermuda Hay Economics"]
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[null,"An Excel spreadsheet to analyze the economics of planting bermuda grass and harvesting as hay."]
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[null,null,null,null,null,null,null,null,null,null,null,"Version- 7.8.16"]
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[null,"INSTRUCTIONS FOR THE USER:"]
[null,"Information in the Mound Valley Production and Mound Valley Budget tabs are based on research trials and are meant to provide an example of the economics of alternative Bermuda grass varieties.  In the Projected production and Projected budget tabs users can enter data for their specific situtuations.  In these tabs, all blue numbers are inputs and all other numbers are calculated from these inputs.  The spreadsheet automatically recalculates every time an additional input is entered.  Thus, it is important to wait until all data have been entered and reviewed before interpreting any of the calculated results (i.e., black numbers)."]
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[null,"FOR MORE INFORMATION:"]
[null,"Developed by:"]
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[null,"Joseph Moyer",null,null,null,null,null,"Kevin C. Dhuyvetter, Ph.D."]
[null,"Professor Forage Research",null,null,null,null,null,"Former Agricultural Economist"]
[null,"Southeast Agricultural Research Center",null,null,null,null,null,"Kansas State University"]
[null,"Kansas State University"]
[null,"jmoyer@k-state.edu"]
[null,"(620) 421-4826"]
[]
[]
[null,"Copyright 2016 AgManager.info, K-State Department of Agricultural Economics"]

{"sheet":"Mound Valley Production","index":1,"n_rows":16,"n_cols":6,"rows_kept":16,"cut":false,"hidden":false,"merged":[[2,1,2,5]]}
[]
[]
[null,"Bermudagrass Hay Production"]
[]
[null,"Mound Valley Unit, K-State Southeast Ag. Research Center1"]
[]
[null,null,"Estimated",null,null,"Gross"]
[null,null,"yield","No. of small","Hay value","revenue"]
[null,"Cultivar","(tons/ac)2","square bales","($/bale)","($/ac)"]
[null,"Midland 99",5.5,{"$f":"C10*40","v":220},3,{"$f":"(D10*E10)","v":660}]
[null,"Midland, Greenfield",5,{"$f":"C11*40","v":200},3,{"$f":"(D11*E11)","v":600}]
[null,"Wrangler",4.9000000000000004,{"$f":"C12*40","v":196},3,{"$f":"(D12*E12)","v":588}]
[null,"Sungrazer, Cheyenne",6,{"$f":"C13*40","v":240},3,{"$f":"(D13*E13)","v":720}]
[null,"1 SEARC Report of Progress, Pages 25-29,  http://www.oznet.ksu.edu/library/crpsl2/srp996.pdf"]
[null,"2 Adjusted to 12% moisture"]
[null,"3 Midland, Greenfield, and Cheyenne yields estimated from relative yield in other tests."]

{"sheet":"Mound Valley Budget","index":2,"n_rows":134,"n_cols":8,"rows_kept":134,"cut":false,"hidden":false,"merged":[[44,1,45,7],[46,1,46,7]]}
[]
[null,"Bermudagrass Meadow Costs "]
[null,{"$f":"\"w/ N @ $\"&FIXED(C14,2)&\" per lb.\"","v":"w/ N @ $0.45 per lb."}]
[]
[null,"Mound Valley Unit, K-State Southeast Ag. Research Center"]
[]
[null,null,null,"Sprigged types",null,null,"Seeded types"]
[null,"Item",null,{"$f":"'Mound Valley Production'!B10","v":"Midland 99"},{"$f":"'Mound Valley Production'!B11","v":"Midland, Greenfield"},null,{"$f":"'Mound Valley Production'!B12","v":"Wrangler"},{"$f":"'Mound Valley Production'!B13","v":"Sungrazer, Cheyenne"}]
[null,"Establishment Costs"]
[null,"Offset disk, $/ac",null,10,10,null,10,10]
[null,"Tandem disk, $/ac",null,9,9,null,9,9]
[null,"Field cultivate, $/ac",null,8,8,null,8,8]
[null,"Fertilizer","$/lb (ton)",{"$f":"SUMPRODUCT($C14:$C17,D14:D17)","v":91},{"$f":"SUMPRODUCT($C14:$C17,E14:E17)","v":91},null,{"$f":"SUMPRODUCT($C14:$C17,G14:G17)","v":91},{"$f":"SUMPRODUCT($C14:$C17,H14:H17)","v":91}]
[null,"  Nitrogen, Price, lb/ac",0.45,100,100,null,100,100]
[null,"  P2O5, Price, lb/ac",0.5,40,40,null,40,40]
[null,"  K2O, Price, lb/ac",0.65,40,40,null,40,40]
[null,"  Lime,  Price, ton/ac",12,0,0,null,0,0]
[null,"Fertilizer application, $/ac",null,4.5,4.5,null,4.5,4.5]
[null,"Sprigs/Seed",null,{"$f":"D20*D21","v":65},{"$f":"E20*E21","v":50},null,{"$f":"G20*G21","v":66},{"$f":"H20*H21","v":75}]
[null,"  Rate, bu(lb)/ac",null,25,25,null,12,12]
[null,"  Price, $/bu(lb)",null,2.6,2,null,5.5,6.25]
[null,"Sprigging/Seeding, $/ac",null,40,40,null,12,{"$f":"G22","v":12}]
[null,"Herbicide*",null,24,24,null,10.5,10.5]
[null,"Clipping",null,10,10,null,10,10]
[null,"Expected life, years",null,20,20,null,20,10]
[null,"Cost per acre",null,{"$f":"SUM(D10:D13,D18:D19,D22:D24)","v":261.5},{"$f":"SUM(E10:E13,E18:E19,E22:E24)","v":246.5},null,{"$f":"SUM(G10:G13,G18:G19,G22:G24)","v":221},{"$f":"SUM(H10:H13,H18:H19,H22:H24)","v":230}]
[null,"Annual Costs"]
[null,"Fertilizer","$/lb",{"$f":"SUMPRODUCT($C29:$C31,D29:D31)","v":150.97499999999999},{"$f":"SUMPRODUCT($C29:$C31,E29:E31)","v":144.77500000000001},null,{"$f":"SUMPRODUCT($C29:$C31,G29:G31)","v":137.685},{"$f":"SUMPRODUCT($C29:$C31,H29:H31)","v":162.05000000000001}]
[null,"  Nitrogen, Price, lb/ac",{"$f":"C14","v":0.45},{"$f":"40*'Mound Valley Production'!$C$10","v":220},{"$f":"40*'Mound Valley Production'!$C$11","v":200},null,{"$f":"40*'Mound Valley Production'!$C$12","v":196},{"$f":"40*'Mound Valley Production'!$C$13","v":240}]
[null,"  P2O5, Price, lb/ac",{"$f":"C15","v":0.5},{"$f":"64+(9.1*'Mound Valley Production'!$C$10)-51.2-(7.3*'Mound Valley Production'!$C$10)","v":22.699999999999996},{"$f":"64+(9.1*'Mound Valley Production'!$C$11)-51.2-(7.3*'Mound Valley Production'!$C$11)","v":21.799999999999997},null,{"$f":"64+(9.1*'Mound Valley Production'!$C$12)-51.2-(7.3*'Mound Valley Production'!$C$12)","v":21.619999999999997},{"$f":"64+(9.1*'Mound Valley Production'!$C$13)-51.2-(7.3*'Mound Valley Production'!$C$13)","v":23.599999999999994}]
[null,"  K2O, Price, lb/ac",{"$f":"C16","v":0.65},{"$f":"105+(15*'Mound Valley Production'!$C$10)-70-(10*'Mound Valley Production'!$C$10)","v":62.5},{"$f":"105+(15*'Mound Valley Production'!$C$10)-70-(10*'Mound Valley Production'!$C$11)","v":67.5},null,{"$f":"105+(15*'Mound Valley Production'!$C$12)-70-(10*'Mound Valley Production'!$C$12)","v":59.5},{"$f":"105+(15*'Mound Valley Production'!$C$13)-70-(10*'Mound Valley Production'!$C$13)","v":65}]
[null,"Fertilizer application, $/ac",null,9,9,null,9,9]
[null,"Stand maintenance**",null,0,0,null,0,{"$f":"((2*H$22)+H$19)/H25","v":9.9}]
[null,"Interest on 1/2 of nonland costs",0.08,{"$f":"$C34*(SUM(D28,D32:D33)/2)","v":6.399},{"$f":"$C34*(SUM(E28,E32:E33)/2)","v":6.1510000000000007},null,{"$f":"$C34*(SUM(G28,G32:G33)/2)","v":5.8673999999999999},{"$f":"$C34*(SUM(H28,H32:H33)/2)","v":7.2380000000000004}]
[null,"Haying cost, $/ton",60,{"$f":"D41*$C35","v":330},{"$f":"E41*$C35","v":300},null,{"$f":"G41*$C35","v":294},{"$f":"H41*$C35","v":360}]
[null,"Total variable costs/acre",null,{"$f":"SUM(D28,D32:D35)","v":496.37400000000002},{"$f":"SUM(E28,E32:E35)","v":459.92600000000004},null,{"$f":"SUM(G28,G32:G35)","v":446.55240000000003},{"$f":"SUM(H28,H32:H35)","v":548.18799999999999}]
[null,"Annualized establishment costs",null,{"$f":"-PMT($C34,D25,D26)","v":26.634352607253888},{"$f":"-PMT($C34,E25,E26)","v":25.106569474906628},null,{"$f":"-PMT($C34,G25,G26)","v":22.509338149916289},{"$f":"-PMT($C34,H25,H26)","v":34.276782400327342}]
[null,"Total cost, including land",20,{"$f":"D36+D37+$C38","v":543.00835260725387},{"$f":"E36+E37+$C38","v":505.03256947490667},null,{"$f":"G36+G37+$C38","v":489.06173814991632},{"$f":"H36+H37+$C38","v":602.46478240032729}]
[null,"Total cost of hay, $/ton",null,{"$f":"D38/D41","v":98.728791383137064},{"$f":"E38/E41","v":101.00651389498134},null,{"$f":"G38/G41","v":99.808517989778835},{"$f":"H38/H41","v":100.41079706672122}]
[null,"Return over Total Costs"]
[null,"Yield",null,{"$f":"'Mound Valley Production'!C10","v":5.5},{"$f":"'Mound Valley Production'!C11","v":5},null,{"$f":"'Mound Valley Production'!C12","v":4.9000000000000004},{"$f":"'Mound Valley Production'!C13","v":6}]
[null,"Price",null,120,120,null,120,120]
[null,"Income",null,{"$f":"D41*D42","v":660},{"$f":"E41*E42","v":600},null,{"$f":"G41*G42","v":588},{"$f":"H41*H42","v":720}]
[null,"Return over total costs",null,{"$f":"D43-D38","v":116.99164739274613},{"$f":"E43-E38","v":94.967430525093334},null,{"$f":"G43-G38","v":98.938261850083677},{"$f":"H43-H38","v":117.53521759967271}]
[null,{"$f":"\"*Using 2.5 lb Karmex preemergence @ $7.63/lb for sprigged types, or 1 lb 2,4-D postemergence @ $5.56/lb for seeded types.\"","v":"*Using 2.5 lb Karmex preemergence @ $7.63/lb for sprigged types, or 1 lb 2,4-D postemergence @ $5.56/lb for seeded types."}]
[]
[null,{"$f":"\"**Based on no-till drill @ $\"&FIXED(G22,2)&\"/acre and half seeding rate after 4 and 7 years.\"","v":"**Based on no-till drill @ $12.00/acre and half seeding rate after 4 and 7 years."}]
[]
[]
[null,"Sensitivity of Return over Total Costs and Breakeven Prices to Nitrogen Prices"]
[null,null,null,"Sprigged types",null,null,"Seeded types"]
[null,"N-to-Hay","N price",{"$f":"D8","v":"Midland 99"},{"$f":"E8","v":"Midland, Greenfield"},null,{"$f":"G8","v":"Wrangler"},{"$f":"H8","v":"Sungrazer, Cheyenne"}]
[null,"price ratio*","$/lb","Return over total costs at various nitrogen prices"]
[null,{"$f":"C54/(D$42/2000)","v":2.5000000000000009},{"$f":"C60","v":0.15000000000000005},{"$f":"D$43-(D$38-($C$14*D$14)*(1+$C$34)/D$25+D$14*$C60*(1+$C$34)/D$25-($C$29*D$29)*(1+$C$34)+(D$29)*$C60*(1+$C$34))","v":189.89164739274611},161.38743052509329,null,{"$f":"G$43-(G$38-($C$14*G$14)*(1+$C$34)/G$25+G$14*$C60*(1+$C$34)/G$25-($C$29*G$29)*(1+$C$34)+(G$29)*$C60*(1+$C$34))","v":164.0622618500837},198.53521759967271]
[null,{"$f":"C55/(D$42/2000)","v":5.0000000000000009},{"$f":"C61","v":0.30000000000000004},153.44164739274606,128.17743052509331,null,131.50026185008369,158.03521759967271]
[null,{"$f":"C56/(D$42/2000)","v":7.5000000000000009},{"$f":"C62","v":0.45},116.99164739274613,94.967430525093334,null,98.938261850083677,117.53521759967271]
[null,{"$f":"C57/(D$42/2000)","v":10},{"$f":"C63","v":0.6},80.541647392746086,61.757430525093241,null,66.376261850083665,77.035217599672706]
[null,{"$f":"C58/(D$42/2000)","v":12.5},{"$f":"C64","v":0.75},44.091647392746154,28.547430525093318,null,33.814261850083653,36.535217599672706]
[null,null,null,"Breakeven hay price at various nitrogen prices"]
[null,{"$f":"B54","v":2.5000000000000009},{"$f":"C61-0.15","v":0.15000000000000005},{"$f":"(D$38-($C$14*D$14)*(1+$C$34)/D$25+D$14*$C60*(1+$C$34)/D$25-($C$29*D$29)*(1+$C$34)+(D$29)*$C60*(1+$C$34))/D$41","v":85.474245928591614},87.722513894981347,null,{"$f":"(G$38-($C$14*G$14)*(1+$C$34)/G$25+G$14*$C60*(1+$C$34)/G$25-($C$29*G$29)*(1+$C$34)+(G$29)*$C60*(1+$C$34))/G$41","v":86.517905744880878},86.910797066721216]
[null,{"$f":"B55","v":5.0000000000000009},{"$f":"C62-0.15","v":0.30000000000000004},92.101518655864353,94.364513894981343,null,93.163211867329849,93.660797066721216]
[null,{"$f":"B56","v":7.5000000000000009},{"$f":"C14","v":0.45},98.728791383137064,101.00651389498134,null,99.808517989778835,100.41079706672122]
[null,{"$f":"B57","v":10},{"$f":"+C62+0.15","v":0.6},105.3560641104098,107.64851389498135,null,106.45382411222782,107.16079706672122]
[null,{"$f":"B58","v":12.5},{"$f":"C63+0.15","v":0.75},111.98333683768251,114.29051389498133,null,113.09913023467679,113.91079706672122]
[null,{"$f":"\"* Based on N price ($/lb) in each row and a hay price of $\"&FIXED(D42,0)&\" per ton.\"","v":"* Based on N price ($/lb) in each row and a hay price of $120 per ton."}]
[]
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[null,"Figure 1.  Return over Total Costs at Various Nitrogen Prices"]
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[null,"Figure 2.  Breakeven Hay Price at Various Nitrogen Prices"]
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[null,"Bermuda Hay Economics.xls"]
[null,"Developed by Joseph Moyer and Kevin C. Dhuyvetter"]
[null,"Kansas State University"]

{"sheet":"Projected production","index":3,"n_rows":16,"n_cols":7,"rows_kept":16,"cut":false,"hidden":false,"merged":[[2,1,2,6]]}
[]
[]
[null,"Bermudagrass Hay Production"]
[]
[null,"Blue values are inputs that can be changed by the user (black values are calculated from these inputs)"]
[]
[null,null,"Estimated",null,null,null,"Gross"]
[null,null,"yield","No. of small","Hay value","Hay value","revenue"]
[null,"Cultivar","(tons/ac)1","square bales","($/bale)","($/ton)","($/ac)"]
[null,"Midland 99",5.5,{"$f":"C10*40","v":220},3,{"$f":"E10*40","v":120},{"$f":"($D10*E10)","v":660}]
[null,"Midland, Greenfield",5,200,3,120,600]
[null,"Wrangler",4.9000000000000004,196,3,120,588]
[null,"Sungrazer, Cheyenne",6,240,3,120,720]
[null,"Bermuda A",3.7,148,3,120,444]
[null,"Bermuda B",4,160,3,120,480]
[null,"1 Adjusted to 12% moisture"]

{"sheet":"Projected budget","index":4,"n_rows":140,"n_cols":11,"rows_kept":140,"cut":false,"hidden":false,"merged":[[6,6,6,7],[50,6,50,7]]}
[]
[null,"Bermudagrass Meadow Costs"]
[null,{"$f":"\"with nitrogen fertilizer @ $\"&FIXED(C30,2)&\" per lb.\"","v":"with nitrogen fertilizer @ $0.45 per lb."}]
[]
[null,"Blue values are inputs that can be changed by the user (black values are calculated from these inputs)"]
[]
[null,null,null,"Sprigged types",null,null,"Seeded types",null,null,"Your choice"]
[null,"Item",null,{"$f":"'Projected production'!B10","v":"Midland 99"},{"$f":"'Projected production'!B11","v":"Midland, Greenfield"},null,{"$f":"'Projected production'!B12","v":"Wrangler"},{"$f":"'Projected production'!B13","v":"Sungrazer, Cheyenne"},null,{"$f":"'Projected production'!B14","v":"Bermuda A"},{"$f":"'Projected production'!B15","v":"Bermuda B"}]
[null,"Establishment Costs"]
[null,"Offset disk, $/ac",null,10,10,null,10,10,null,10,10]
[null,"Tandem disk, $/ac",null,9,9,null,9,9,null,9,9]
[null,"Field cultivate, $/ac",null,8,8,null,8,8,null,8,8]
[null,"Fertilizer","$/lb (ton)",{"$f":"SUMPRODUCT($C14:$C17,D14:D17)","v":91},{"$f":"SUMPRODUCT($C14:$C17,E14:E17)","v":91},null,{"$f":"SUMPRODUCT($C14:$C17,G14:G17)","v":73},{"$f":"SUMPRODUCT($C14:$C17,H14:H17)","v":73},null,{"$f":"SUMPRODUCT($C14:$C17,J14:J17)","v":103.5},{"$f":"SUMPRODUCT($C14:$C17,K14:K17)","v":85.5}]
[null,"  Nitrogen, Price, lb/ac",0.45,100,100,null,60,60,null,100,60]
[null,"  P2O5, Price, lb/ac",0.5,40,40,null,40,40,null,30,30]
[null,"  K2O, Price, lb/ac",0.65,40,40,null,40,40,null,30,30]
[null,"  Lime, Price, ton/ac",12,0,0,null,0,0,null,2,2]
[null,"Fertilizer application, $/ac",null,4.5,4.5,null,4.5,4.5,null,4.5,4.5]
[null,"Sprigs/Seed",null,{"$f":"D20*D21","v":65},{"$f":"E20*E21","v":50},null,{"$f":"G20*G21","v":48},{"$f":"H20*H21","v":45},null,{"$f":"J20*J21","v":87.5},{"$f":"K20*K21","v":32}]
[null,"  Rate, bu (lb)/ac",null,25,25,null,12,15,null,25,8]
[null,"  Price, $/bu (lb)",null,2.6,2,null,4,3,null,3.5,4]
[null,"Sprigging/Seeding, $/ac",null,40,40,null,12,{"$f":"G22","v":12},null,40,12]
[null,"Herbicide",null,24,24,null,10.5,{"$f":"G23","v":10.5},null,24,10.5]
[null,"Clipping",null,0,0,null,10,10,null,0,10]
[null,"Expected life, years",null,20,20,null,20,10,null,20,20]
[null,"Less seeding year hay, # bales/ac",50,{"$f":"-('Projected production'!$E11)*$C26","v":-150},{"$f":"-('Projected production'!$E11)*$C26","v":-150},null,{"$f":"-('Projected production'!$E12)*$C26","v":-150},{"$f":"-('Projected production'!$E13)*$C26","v":-150},null,{"$f":"-('Projected production'!$E14)*$C26","v":-150},{"$f":"-('Projected production'!$E15)*$C26","v":-150}]
[null,"Net cost per acre",null,{"$f":"SUM(D10:D13,D18:D19,D22:D24,D26)","v":101.5},{"$f":"SUM(E10:E13,E18:E19,E22:E24,E26)","v":86.5},null,{"$f":"SUM(G10:G13,G18:G19,G22:G24,G26)","v":35},{"$f":"SUM(H10:H13,H18:H19,H22:H24,H26)","v":32},null,{"$f":"SUM(J10:J13,J18:J19,J22:J24,J26)","v":136.5},{"$f":"SUM(K10:K13,K18:K19,K22:K24,K26)","v":31.5}]
[null,"Annual Costs"]
[null,"Fertilizer","$/lb",{"$f":"SUMPRODUCT($C30:$C32,D30:D32)","v":150.97499999999999},{"$f":"SUMPRODUCT($C30:$C32,E30:E32)","v":139.9},null,{"$f":"SUMPRODUCT($C30:$C32,G30:G32)","v":137.685},{"$f":"SUMPRODUCT($C30:$C32,H30:H32)","v":162.05000000000001},null,{"$f":"SUMPRODUCT($C30:$C32,J30:J32)","v":111.10500000000002},{"$f":"SUMPRODUCT($C30:$C32,K30:K32)","v":117.75}]
[null,"  Nitrogen, Price, lb/ac",{"$f":"C14","v":0.45},{"$f":"40*D43","v":220},{"$f":"40*E43","v":200},null,{"$f":"40*G43","v":196},{"$f":"40*H43","v":240},null,{"$f":"40*J43","v":148},{"$f":"40*K43","v":160}]
[null,"  P2O5, Price, lb/ac",{"$f":"C15","v":0.5},{"$f":"64+(9.1*D43)-51.2-(7.3*D43)","v":22.699999999999996},{"$f":"64+(9.1*E43)-51.2-(7.3*E43)","v":21.799999999999997},null,{"$f":"64+(9.1*G43)-51.2-(7.3*G43)","v":21.619999999999997},{"$f":"64+(9.1*H43)-51.2-(7.3*H43)","v":23.599999999999994},null,{"$f":"64+(9.1*J43)-51.2-(7.3*J43)","v":19.459999999999997},{"$f":"64+(9.1*K43)-51.2-(7.3*K43)","v":20.000000000000004}]
[null,"  K2O, Price, lb/ac",{"$f":"C16","v":0.65},{"$f":"105+(15*D43)-70-(10*D43)","v":62.5},{"$f":"105+(15*E43)-70-(10*E43)","v":60},null,{"$f":"105+(15*G43)-70-(10*G43)","v":59.5},{"$f":"105+(15*H43)-70-(10*H43)","v":65},null,{"$f":"105+(15*J43)-70-(10*J43)","v":53.5},{"$f":"105+(15*K43)-70-(10*K43)","v":55}]
[null,"Fertilizer application, $/ac",null,9,9,null,9,9,null,9,9]
[null,"Stand maintenance*",null,0,0,null,0,{"$f":"(((2*H$22)+H$19)/10)*H25/10","v":6.9},null,0,{"$f":"(((2*K$22)+K$19)/10)*K25/10","v":11.2}]
[null,"Labor",null,0,0,null,0,0,null,0,0]
[null,"Interest on 1/2 of nonland costs",0.08,{"$f":"$C36*(SUM(D29,D33:D35)/2)","v":6.399},{"$f":"$C36*(SUM(E29,E33:E35)/2)","v":5.9560000000000004},null,{"$f":"$C36*(SUM(G29,G33:G35)/2)","v":5.8673999999999999},{"$f":"$C36*(SUM(H29,H33:H35)/2)","v":7.1180000000000012},null,{"$f":"$C36*(SUM(J29,J33:J35)/2)","v":4.8042000000000007},{"$f":"$C36*(SUM(K29,K33:K35)/2)","v":5.5179999999999998}]
[null,"Haying cost, $/ton",60,{"$f":"D43*$C37","v":330},{"$f":"E43*$C37","v":300},null,{"$f":"G43*$C37","v":294},{"$f":"H43*$C37","v":360},null,{"$f":"J43*$C37","v":222},{"$f":"K43*$C37","v":240}]
[null,"Total variable costs/acre",null,{"$f":"SUM(D29,D33:D37)","v":496.37400000000002},{"$f":"SUM(E29,E33:E37)","v":454.85599999999999},null,{"$f":"SUM(G29,G33:G37)","v":446.55240000000003},{"$f":"SUM(H29,H33:H37)","v":545.06799999999998},null,{"$f":"SUM(J29,J33:J37)","v":346.9092},{"$f":"SUM(K29,K33:K37)","v":383.46799999999996}]
[null,"Annualized establishment costs",null,{"$f":"-PMT($C36,D25,D27)","v":10.337999195549788},{"$f":"-PMT($C36,E25,E27)","v":8.8102160632025299},null,{"$f":"-PMT($C36,G25,G27)","v":3.5648273088102718},{"$f":"-PMT($C36,H25,H27)","v":4.7689436383064132},null,{"$f":"-PMT($C36,J25,J27)","v":13.902826504360061},{"$f":"-PMT($C36,K25,K27)","v":3.2083445779292448}]
[null,"Total cost, including land",20,{"$f":"D38+D39+$C40","v":526.71199919554988},{"$f":"E38+E39+$C40","v":483.66621606320251},null,{"$f":"G38+G39+$C40","v":470.1172273088103},{"$f":"H38+H39+$C40","v":569.83694363830637},null,{"$f":"J38+J39+$C40","v":380.81202650436006},{"$f":"K38+K39+$C40","v":406.67634457792923}]
[null,"Total cost of hay, $/ton",null,{"$f":"D40/D43","v":95.765818035554517},{"$f":"E40/E43","v":96.733243212640502},null,{"$f":"G40/G43","v":95.942291287512305},{"$f":"H40/H43","v":94.972823939717728},null,{"$f":"J40/J43","v":102.92216932550271},{"$f":"K40/K43","v":101.66908614448231}]
[null,"Return over Total Costs"]
[null,"Yield",null,{"$f":"'Projected production'!C10","v":5.5},{"$f":"'Projected production'!C11","v":5},null,{"$f":"'Projected production'!C12","v":4.9000000000000004},{"$f":"'Projected production'!C13","v":6},null,{"$f":"'Projected production'!C14","v":3.7},{"$f":"'Projected production'!C15","v":4}]
[null,"Price",null,{"$f":"'Projected production'!$F10","v":120},{"$f":"'Projected production'!$F11","v":120},null,{"$f":"'Projected production'!$F11","v":120},{"$f":"'Projected production'!$F11","v":120},null,{"$f":"'Projected production'!$F11","v":120},{"$f":"'Projected production'!$F11","v":120}]
[null,"Income",null,{"$f":"D43*D44","v":660},{"$f":"E43*E44","v":600},null,{"$f":"G43*G44","v":588},{"$f":"H43*H44","v":720},null,{"$f":"J43*J44","v":444},{"$f":"K43*K44","v":480}]
[null,"Return over total costs",null,{"$f":"D45-D40","v":133.28800080445012},{"$f":"E45-E40","v":116.33378393679749},null,{"$f":"G45-G40","v":117.8827726911897},{"$f":"H45-H40","v":150.16305636169363},null,{"$f":"J45-J40","v":63.187973495639937},{"$f":"K45-K40","v":73.323655422070772}]
[null,{"$f":"\"* Based on no-till drill @ $\"&FIXED(G22,2)&\"/acre and half seeding rate twice in the 10-year projected life.\"","v":"* Based on no-till drill @ $12.00/acre and half seeding rate twice in the 10-year projected life."}]
[]
[]
[null,"Sensitivity of Return over Total Costs and Breakeven Prices to Nitrogen Prices"]
[null,null,null,"Sprigged types",null,null,"Seeded types",null,null,"Your choice"]
[null,"N-to-Hay","N price",{"$f":"D8","v":"Midland 99"},{"$f":"E8","v":"Midland, Greenfield"},null,{"$f":"G8","v":"Wrangler"},{"$f":"H8","v":"Sungrazer, Cheyenne"},null,{"$f":"J8","v":"Bermuda A"},{"$f":"K8","v":"Bermuda B"}]
[null,"price ratio*","$/lb","Return over total costs at various nitrogen prices"]
[null,{"$f":"C54/(D$44/2000)","v":2.5000000000000009},{"$f":"C60","v":0.15000000000000005},{"$f":"D$45-(D$40-($C$14*D$14)*(1+$C$36)/D$25+D$14*$C60*(1+$C$36)/D$25-($C$30*D$30)*(1+$C$36)+(D$30)*$C60*(1+$C$36))","v":206.1880008044501},182.75378393679745,null,{"$f":"G$45-(G$40-($C$14*G$14)*(1+$C$36)/G$25+G$14*$C60*(1+$C$36)/G$25-($C$30*G$30)*(1+$C$36)+(G$30)*$C60*(1+$C$36))","v":182.35877269118976},229.8670563616937,null,{"$f":"J$45-(J$40-($C$14*J$14)*(1+$C$36)/J$25+J$14*$C60*(1+$C$36)/J$25-($C$30*J$30)*(1+$C$36)+(J$30)*$C60*(1+$C$36))","v":112.75997349563994},126.13565542207078]
[null,{"$f":"C55/(D$44/2000)","v":5.0000000000000009},{"$f":"C61","v":0.30000000000000004},169.73800080445005,149.54378393679747,null,150.12077269118976,190.01505636169372,null,87.973973495639939,99.729655422070778]
[null,{"$f":"C56/(D$44/2000)","v":7.5000000000000009},{"$f":"C62","v":0.45},133.28800080445012,116.33378393679749,null,117.8827726911897,150.16305636169363,null,63.187973495639937,73.323655422070772]
[null,{"$f":"C57/(D$44/2000)","v":10},{"$f":"C63","v":0.6},96.838000804450076,83.123783936797508,null,85.644772691189758,110.31105636169366,null,38.401973495639936,46.917655422070766]
[null,{"$f":"C58/(D$44/2000)","v":12.5},{"$f":"C64","v":0.75},60.388000804450144,49.913783936797472,null,53.406772691189758,70.459056361693683,null,13.615973495639935,20.51165542207076]
[null,null,null,"Breakeven hay price at various nitrogen prices"]
[null,{"$f":"B54","v":2.5000000000000009},{"$f":"C61-0.15","v":0.15000000000000005},{"$f":"(D$40-($C$14*D$14)*(1+$C$36)/D$25+D$14*$C60*(1+$C$36)/D$25-($C$30*D$30)*(1+$C$36)+(D$30)*$C60*(1+$C$36))/D$43","v":82.511272581009067},83.449243212640511,null,{"$f":"(G$40-($C$14*G$14)*(1+$C$36)/G$25+G$14*$C60*(1+$C$36)/G$25-($C$30*G$30)*(1+$C$36)+(G$30)*$C60*(1+$C$36))/G$43","v":82.783923940573516},81.688823939717722,null,{"$f":"(J$40-($C$14*J$14)*(1+$C$36)/J$25+J$14*$C60*(1+$C$36)/J$25-($C$30*J$30)*(1+$C$36)+(J$30)*$C60*(1+$C$36))/J$43","v":89.524331487664881},88.466086144482304]
[null,{"$f":"B55","v":5.0000000000000009},{"$f":"C62-0.15","v":0.30000000000000004},89.138545308281806,90.091243212640506,null,89.363107614042903,88.330823939717718,null,96.223250406583801,95.067586144482306]
[null,{"$f":"B56","v":7.5000000000000009},{"$f":"C14","v":0.45},95.765818035554517,96.733243212640502,null,95.942291287512305,94.972823939717728,null,102.92216932550271,101.66908614448231]
[null,{"$f":"B57","v":10},{"$f":"C62+0.15","v":0.6},102.39309076282726,103.3752432126405,null,102.52147496098168,101.61482393971772,null,109.62108824442163,108.27058614448231]
[null,{"$f":"B58","v":12.5},{"$f":"C63+0.15","v":0.75},109.02036349009997,110.01724321264051,null,109.10065863445107,108.25682393971772,null,116.32000716334055,114.87208614448231]
[null,{"$f":"\"* Based on N price ($/lb) in each row and a hay price of $\"&FIXED(D44,2)&\" per ton.\"","v":"* Based on N price ($/lb) in each row and a hay price of $120.00 per ton."}]
[]
[]
[null,"Figure 1.  Return over Total Costs at Various Nitrogen Prices"]
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[null,"Figure 2.  Breakeven Hay Price at Various Nitrogen Prices"]
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[null,"Bermuda Hay Economics.xls"]
[null,"Developed by Joseph Moyer and Kevin C. Dhuyvetter"]
[null,"Kansas State University"]