TABLE 6. Barley, flood-irrigated, budgeted per acre costs and returns for a 500 acre farm with above average management, Artesia-Lake Arthur, 2001. Planting dates: August 20 - September 30 Harvesting dates: June 15 - July 1 --------------------------------------------------------------------------------------------------------------------- ITEM PRICE YIELD TOTAL --------------------------------------------------------------------------------------------------------------------- GROSS RETURNS BARLEY $2.70 35.00 CWT $94.50 ASCS DEFICIENCY $0.34 35.00 CWT $11.90 ASCS DIVERSION $0.00 $0.00 GRAZING $40.00 $40.00 _______ TOTAL $146.40 --------------------------------------------------------------------------------------------------------------------- PURCHASED PURCHASED INPUTS PRICE QUANTITY INPUTS TOTAL --------- ------ ----- -------------- -------- ----- SEED $0.25 110 LBS $27.50 $27.50 NITROGEN (N) $0.42 150 LBS $63.00 $63.00 INSECTICIDE (CUSTOM) $19.07 1 ACRE $19.07 $19.07 PUMP WATER* 28 AC. IN. CROP INSURANCE $2.94 $2.94 $2.94 SUBTOTAL $112.51 $112.51 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 145 HP 0.17 HR $1.24 $2.16 $0.95 $1.57 $5.93 FLOAT 70 HP 0.16 HR $1.17 $0.83 $0.17 $0.46 $2.62 FERTILIZE DEALER APPLIED DRILL 70 HP 0.21 HR $1.53 $1.09 $0.85 $3.56 $7.03 IRRIGATE (4X) 2.00 HR $13.40 $22.84 $5.07 $16.32 $57.63 ____________ _______ _______ _______ _______ _______ SUBTOTAL 3.02 HR $20.85 $33.02 $9.13 $27.12 $90.12 HARVEST OPERATIONS ------- ---------- COMBINE (CUSTOM) $17.91 $17.91 HAUL (CUSTOM) $7.00 $7.00 ______ ______ SUBTOTAL $24.91 $24.91 OVERHEAD EXPENSES -------- -------- DOWNTIME 0.22 HR $1.57 $1.57 EMPLOYEE BENEFITS $3.75 $3.75 INSURANCE $0.42 $0.42 LAND TAXES $1.56 $1.56 SUPERVISION AND MANAGEMENT $12.68 $12.68 OTHER EXPENSES $45.94 $45.94 ____________ _______ _______ _______ _______ SUBTOTAL 0.22 HR $46.36 $18.00 $1.56 $65.91 ------------ ------- ------- ------- ------- ------- ------- TOTAL OPERATING EXPENSES 3.24 HR $183.78 $38.85 $33.02 $9.13 $28.68 $293.45 NET OPERATING PROFIT ($147.05) INTEREST ON OPERATING CAPITAL ( 68.87 @ 9.00%) $6.20 INTEREST ON EQUIPMENT INVESTMENT $7.89 RETURN TO LAND AND RISK ($161.14) ===================================================================================================================== * Pump water costs are shown under irrigation in the preharvest operation section. BUDGET SUMMARY GROSS RETURN $146.40 VARIABLE OPERATING EXPENSES $225.92 RETURN OVER VARIABLE EXPENSES ($79.52) (GROSS MARGIN) FIXED EXPENSES $28.68 NET FARM INCOME ($108.20) (RETURN TO CAPITAL, LABOR, LAND & RISK) LABOR AND MANAGEMENT COST $38.85 NET OPERATING PROFIT ($147.05) (RETURN TO CAPITAL, LAND & RISK) CAPITAL COSTS $14.09 RETURN TO LAND AND RISK ($161.14) ===================================================================================================