# Cow-calf profit per head in New Hampshire

> New Hampshire cow-calf operators average roughly $165 in net cash income per cow in 2025, but after non-cash costs like unpaid labor and pasture opportunity cost, total economic profit runs near negative $95 per head.

**Headline:** $165 net cash income per cow (negative $95 total economic profit)

## Key Figures

| Metric | Value |
| --- | --- |
| Gross revenue per cow | $1,145 |
| Cash costs per cow | $980 |
| Non-cash costs (labor, depreciation, land) | $260 |
| Net cash income per cow | $165 |
| Total economic profit per cow | -$95 |

## Detail

New Hampshire cow-calf economics in 2025 are defined by strong calf prices colliding with the Northeast's structurally high cost base. Feeder calf prices above $3.00/lb lifted gross revenue per cow past $1,100, the best cash environment in more than a decade, according to USDA ERS Commodity Costs and Returns data for 2025.

UNH Cooperative Extension's cow-calf enterprise budget assumes an 88-90% weaning rate and a 525-550 lb weaned calf, reflecting the state's short 150-170 day grazing season and heavy reliance on stored forage. Those weaning assumptions drive the revenue line: a 540 lb calf at roughly $3.05/lb delivers approximately $1,145 per exposed cow before cull cow receipts.

The bottom line is squeezed by NH's cost structure. Cash costs near $980 per cow, dominated by purchased hay, winter feed, and veterinary inputs documented in the 2024 UNH Extension budget, leave about $165 in net cash income. Once unpaid family labor, depreciation, and pasture opportunity cost are layered in per USDA ERS methodology, total economic profit turns negative at roughly -$95 per head, consistent with New England Cattlemen's Association 2025 Q1 reporting that most NH herds remain profitable on a cash basis but not on a full-cost basis.

## Frequently Asked Questions

### Why is New Hampshire cow-calf profitability lower than the national average?

NH has high hay, land, and labor costs, small herd sizes (median under 30 head), and long winter feeding periods of 150-180 days that push cash costs well above the USDA ERS national average.

### What weaning percentage should an NH cow-calf operator assume?

UNH Extension budgets assume an 88-90% weaning rate on well-managed NH herds, with weaned calf weights of 525-550 lbs given the short grazing season.

### Are 2025 calf prices high enough to make NH cow-calf profitable?

Yes on a cash basis. Feeder calf prices above $3.00/lb in 2025 pushed gross revenue per cow over $1,100, generating positive net cash income even on high-cost NH farms, though full economic profit remains marginal.

## Sources

1. USDA ERS Commodity Costs and Returns: Cow-Calf Production (2025) — https://www.ers.usda.gov/data-products/commodity-costs-and-returns/
2. UNH Cooperative Extension Cow-Calf Enterprise Budget (2024) — https://extension.unh.edu/resource/cow-calf-enterprise-budget
3. New England Cattlemen's Association Market Report (2025-Q1) — https://www.newenglandcattlemen.org/

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Source: Vellum — https://vellum.app/cow-calf-profit-per-head/new-hampshire