NDSU Extension Projects Lower Crop, Livestock Prices for 2016

The North Dakota State University Extension Service has released its short- and
long-term agricultural planning price projections for North Dakota, says Ron
Haugen, Extension farm economist.

The publication shows 2016 price projections for crops and livestock produced in
the state and price estimates for future years. Price projections are given for
the major crop commodities: wheat, durum, oats, feed barley, malting barley, oil
sunflowers, non-oil sunflowers, corn, soybeans, canola, flaxseed, winter wheat,
dry beans, dry peas, lentils, alfalfa hay and mixed hay.

Price projections for livestock and livestock products include beef steers and
heifers at various weights, cull cows, slaughter steers, slaughter hogs,
slaughter ewes, slaughter lambs, feeder lambs and milk.

The publication also provides historical prices as a reference.

"Crop and livestock prices are down from the previous year," Haugen says. "The
estimated short-term planning prices should be used as a guide in setting price
expectations for 2016 production. These planning prices can be used for
preparing annual enterprise budgets and annual whole-farm cash-flow
projections."

He adds, "With tight margins this year, cash-flow projections are more critical
than ever. The short-term prices should not be used for planning capital
purchases or expansion alternatives that would extend beyond the next production
year."