Enterprise budgets are a useful tool for understanding typical expenses and potential revenue and profits from different crops. Recently, our writing team posted a new spring-planted alfalfa budget for 2026, which is available here: https://farmoffice.osu.edu/farm-management/enterprise-budgets
Notable updates in the 2026 version include changes to the chemical program assumptions, updated assumptions regarding nutrient management, and updated prices for all inputs, labor, and machinery costs. The ranges of yield potentials have remained the same, and the general layout of the budget has also remained unchanged. The previous budget version, posted in 2022, is still available on the OSU Farm Office website in case you’d like to make comparisons.
The calculation methods and assumptions in the enterprise budgets are listed in footnotes at the bottom of the page. Budgets are provided as downloadable Excel files so that farmers can substitute their own costs of production if desired. Alfalfa hay production has so many variables in general, so customizing these budgets can be useful for estimating best- and worst-case scenarios for your farm.