TABLE 4. Alfalfa establishment, flood-irrigated, budgeted per acre costs and returns for a 500 acre farm with
         above average management, Artesia-Lake Arthur area, 2001.
              Planting dates: September 1 - September 30
---------------------------------------------------------------------------------------------------------------------
         ITEM                  PRICE             QUANTITY      PURCHASED                                        TOTAL
---------------------------------------------------------------------------------------------------------------------
 
PURCHASED INPUTS
--------- ------
    SEED                      $2.95                20 LBS        $59.00                                       $59.00
    HERBICIDE                $30.88                 1 ACRE       $30.88                                       $30.88
    PUMP WATER*                                     8 AC. IN.
                                                                 _______                                      _______
         SUBTOTAL                                                $89.88                                       $89.88
 
 
                            POWER            ACCOMPLISHMENT    PURCHASED              FUEL             FIXED
PREHARVEST OPERATIONS        UNIT                 RATE            INPUTS    LABOR   & LUBE  REPAIRS     COST    TOTAL
---------- ----------      ------              ----------      ---------   -----    -----    -----    -----    -----
    PLOW                   145 HP                0.48  HR                  $3.50    $6.10    $2.09    $5.22   $16.91
    DISC (2X)              145 HP                0.34  HR                  $2.48    $4.32    $1.91    $3.14   $11.85
    PLANE (3X)             145 HP                0.57  HR                  $4.16    $7.24    $2.86   $10.02   $24.28
    DISC                   145 HP                0.17  HR                  $1.24    $2.16    $0.95    $1.57    $5.93
    FLOAT (2X)             70 HP                 0.32  HR                  $2.34    $1.66    $0.34    $0.91    $5.24
    DRILL (2X)             65 HP                 0.42  HR                  $3.07    $2.65    $1.78    $6.65   $14.15
    IRRIGATE (2X)                                1.00  HR                  $6.70    $6.53    $1.45    $4.66   $19.34
                                                _________                 _______  _______  _______  _______  _______
         SUBTOTAL                                3.30  HR                 $23.49   $30.66   $11.38   $32.18   $97.71
 
OVERHEAD EXPENSES
-------- --------
    DOWNTIME                                     0.46  HR                  $3.32                               $3.32
    EMPLOYEE BENEFITS                                                      $4.23                               $4.23
    INSURANCE                                                     $0.47                                        $0.47
    SUPERVISION AND MANAGEMENT                                            $15.04                              $15.04
                                                 _________       _______  _______                             _______
         SUBTOTAL                                0.46  HR         $0.47   $22.59                              $23.06
                                                 _________       _______  _______  _______  _______  _______  _______
TOTAL OPERATING EXPENSES                         3.76  HR        $90.35   $46.08   $30.66   $11.38   $32.18  $210.65
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