TABLE 11. Summary of per acre costs and returns for a 500 acre farm with above average management, Artesia-Lake Arthur area, 2001. ---------------------------------------------------------------------------------------------------------------- ALFALFA ALFALFA OAT PICKER STRIPPER RED ESTABLISHMENT HAY BARLEY HAY COTTON COTTON CHILE -------------------------FLOOD------------------------- ---------------------------------------------------------------------------------------------------------------- TONS CWT TONS LBS LBS LBS PRIMARY YIELD 6.50 35.00 3.50 700.00 700.00 3200.00 PRIMARY PRICE 120.00 2.70 80.00 0.69 0.65 0.70 GOVERNMENT PAYMENTS 0.00 11.90 0.00 123.20 123.20 0.00 SECOND INCOME 40.00 40.00 0.00 54.60 54.60 0.00 GROSS RETURN $820.00 $146.40 $280.00 $660.80 $632.80 $2,240.00 CASH OPERATING EXPENSES SEED $59.00 $27.50 $23.00 $8.40 $10.20 $168.00 FERTILIZER $42.00 $63.00 $25.50 $4.80 $4.80 $77.70 CHEMICALS $30.88 $82.36 $19.07 $113.17 $80.84 $71.93 CROP INSURANCE $2.94 $0.53 $0.74 $20.00 OTHER PURCHASED INPUTS $76.45 CANAL WATER FUEL, OIL & LUBRICANTS-EQUIPMENT $24.13 $23.36 $10.17 $18.10 $37.64 $33.00 $36.21 FUEL-IRRIGATION $6.53 $40.79 $22.84 $22.84 $24.47 $24.47 $39.16 REPAIRS $11.38 $44.53 $9.13 $17.58 $60.57 $20.12 $23.64 CUSTOM CHARGES $24.91 $109.60 $142.29 $801.00 LAND TAXES $1.56 $1.56 $1.56 $1.56 $1.56 $1.56 OTHER EXPENSES $0.47 $46.85 $46.36 $46.46 $46.89 $46.83 $47.05 ________ ________ ________ ________ ________ ________ ________ TOTAL CASH EXPENSES $132.39 $357.91 $227.48 $155.04 $407.63 $364.85 $1,286.24 RETURN OVER CASH EXPENSES ($132.39) $462.09 ($81.08) $124.96 $253.17 $267.95 $953.76 FIXED EXPENSES $32.18 $109.31 $27.12 $35.36 $152.75 $58.00 $59.68 TOTAL EXPENSES $164.57 $467.22 $254.60 $190.41 $560.39 $422.85 $1,346 NET FARM INCOME ($164.57) $352.78 ($108.20) $89.59 $100.41 $209.95 $894.08 LABOR AND MANAGEMENT COSTS $46.08 $121.48 $38.85 $56.26 $113.52 $106.50 $235.34 NET OPERATING PROFIT ($210.65) $231.30 ($147.05) $33.33 ($13.11) $103.46 $658.73 CAPITAL COSTS INTEREST ON OPERATING CAPITAL $10.60 $6.20 $3.30 $7.62 $5.92 $17.19 INTEREST ON EQUIPMENT INVESTMENT $24.64 $7.89 $13.78 $105.17 $25.01 $20.01 ________ ________ ________ ________ ________ ________ ________ TOTAL CAPITAL COSTS $0.00 $35.24 $14.09 $17.08 $112.79 $30.93 $37.20 RETURN TO LAND AND RISK ($210.65) $196.06 ($161.14) $16.25 ($125.90) $72.53 $621.53 ======== ======== ======== ======== ======== ======== ======== ================================================================================================================