Industrial Hemp for Fiber Planning Budget

Editor’s note
The following abstract describes a publication that is only available as a PDF via the “Download this publication” button.

See the Industrial Hemp Budget Generator (downloadable Excel spreadsheet) for related information.

Raymond Massey
Extension Professor, Agricultural Business and Policy
Chase Morrison, Student Assistant

Abstract

This budget presents information useful to farmers considering industrial hemp production for fiber. Table 1 presents income and cost estimates for industrial hemp fiber production in Missouri. Assumptions were based on price forecasts as of October 2019. Detailed assumptions are summarized in Tables 2 and 3. Production was assumed to be done on 40 acres. Hemp has not been produced in Missouri for decades. Several assumptions used in this budget are from states such as Kentucky, Tennessee, and North Dakota that have recently grown hemp. Farmers should understand that these assumptions may not fit Missouri production. A sensitivity analysis showing the impact on profit of various yield and market prices is included in Table 4.

Topics

  • Crop budget
  • Farm budget
  • Industrial hemp for fiber

Pages

  • 3