Obtaining a fair price can be difficult if you’re not aware of the resources around you
‘Tis the season for questions surrounding pricing corn silage in field. Agreeing on a price for corn silage can be difficult. To get a fair price requires knowledge of both the expenses such as the cost of fertilizer, field operations, and markets (grains, straw, mild, and silage). This can make obtaining a fair price hard to come by if you are not aware of the resources around you.
There are different ways to price corn silage other than using the above estimation. Many of these options are easily found online and free to use. Penn State, Iowa State, Kansas State, and Wisconsin all have their own versions of corn silage pricing calculators and can all be found using a simple internet search. Each one takes a slightly different approach to pricing corn silage, so make sure to experiment with them to decide which one best fits your needs and situation. Remember that the person buying the crop is also thinking about yield, quality and price versus other options.
While the above calculators and estimations can help determine a fair price I will always recommend looking at past production costs to help determine price. Determining a price that accounts for nutrient applications and removal, pest management, seed costs, and all equipment and labor costs is the surest way to determine a fair price for both your silage and hay sources. This can be relatively easy if you keep records of expenses throughout the year. While Nitrogen applications have to be made every year due to its mobility in the soil, Phosphorus and Potassium are less mobile and therefore need to be accounted for through removal rates. The University of Wisconsin-Madison has found those removal rates at 3.6 lb P/ton and 8.3 lb K/ton of silage. Remember that yield and quality are also important when determining a fair price for corn silage or dry hay. As always, the price that suits the needs of both parties as best as it can is the end goal.
For more information please feel free to contact me at (608) 515-4414 or through email at firstname.lastname@example.org. To receive future events, educational programming, and agronomic updates by email, signup at z.umn.edu/tricountysignup. In addition, if you would like to provide input for future local extension programming in Stearns, Benton, and Morrison counties please fill out the survey at z.umn.edu/tricountycrops.