– Bradley Zwilling, Illinois FBFM Association and Department of Agricultural and Consumer Economics, University of Illinois
Total returns in 2023 for Illinois beef feeding enterprises exceeded total costs by $2.04 per 100 pounds of beef produced in preliminary findings for farms enrolled in Illinois Farm Business Farm Management. The 2023 returns were lower than the 2022 total returns above all costs (2022 was the highest since this study began) by $19.73 per 100 pounds produced. Total returns have exceeded total economic costs in five out of the last ten years. The 2023 level of return above all costs was $1.89 per 100 pounds beef produced above the average return above all costs for the 2014 through 2023 period. Figure 1 illustrates average returns, cash operating costs and total costs for this same period.
Higher Total Returns
The higher prices received contributed to the higher total gross returns for these enterprises. Total gross returns per 100 pounds produced increased from $141.65 in 2022 to . . .
Continue reading Costs and Returns for Illinois Beef Producers in 2023
EDITOR’s NOTE: Producer’s wishing to participate in Ohio’s Farm Business Analysis and Benchmarking program may reach out to Clint Schroeder, Program Manager, at 567-242-6693 or via email at schroeder.307@osu.edu.