Table 3.

Sensitivity analysis of the impacts of changes in milk price, improved forage and legume costs on economic outcomes of three nutritional management alternatives for Genesis herds

Price or cost	Value, by scenario			Percent of base value (%)
	With improved nutritiona	Harvested grassb	Improved grass and legumec	With improved nutrition	Harvested grass	Improved grass and legume
Milk price
Value assumed for analyses in Table 2	0.32	0.32	0.32	100	100	100
Value required for MRRd = 0.5	0.09	0.12	0.13	28	38	41
Value required for no change in IOFC	0.06	0.08	0.08	19	25	25
Improved forage cost
Value assumed for analyses in Table 2	0.15	0.15	0.15	100	100	100
Value required for MRR = 0.5	0.29	0.33	0.38	193	220	253
Value required for no change in IOFC	0.38	0.48	0.58	253	320	387
Legume coste
Value assumed for analyses in Table 2	–	–	0.15	–	–	100
Value required for MRR = 0.5	–	–	0.90	–	–	281
Value required for no change in IOFC	–	–	1.46	–	–	456
Milk and improved forage cost
Value required for MRR = 0.5
Milk	0.16	0.16	0.16	50	50	50
Improved forage	0.19	0.19	0.19	125	125	125
Value required for no change in IOFC
Milk	0.32	0.32	0.32	50	50	50
Improved forage	0.23	0.26	0.29	155	173	192

^aConcentrate supplementation during the dry period

^bGood quality grass provided since first lactation

^cGood quality grass and legume provided since first lactation

^dThe marginal rate of return (MRR) equals the change in net margin divided by the change in variable costs

^eEmpty cells (–) means not analyzed because legume is not fed in this nutritional management alternative