The Agricultural Economics program at the Twin Falls Research and Extension Center focuses on the economics of the livestock industry. Program areas include:
- Farm business management
- FINPACK financial analysis
- Livestock situation and outlook
- Management-intensive grazing
The program provides support to Extension faculty, farm and ranch operators involved with beef cattle, dairy, sheep and forage production.
Knowing cost of production is important to remaining successful in modern agriculture. The UI Agricultural Economics and Rural Sociology department (AERS) publishes a series of cost-of-production budgets on a wide range of Idaho and PNW commodities including dairy, sheep, cow-calf, stocker and feedlot enterprises. These are updated on an every other year basis, crops in odd years and livestock in even years.
AERS also has software available to develop enterprise budgets using a person’s specific data.
Grazing has become more important to livestock operations for controlling their largest expense, winter feeding. The LRGA has been assisting producers in controlling feed costs for over 15 years.
Building Farmers in the West
This six-state cooperative program brings beginning producers together with successful operators to improve their business management skills. One outcome of the program was the development of a business plan by each of the 18 operations.