TABLE 7. Oat hay, flood-irrigated, budgeted per acre costs and returns for a 500 acre farm with above average management, Artesia-Lake Arthur area, 2001. Planting dates: February 1 - February 28 Harvesting dates: June 1 - June 30 --------------------------------------------------------------------------------------------------------------------- ITEM PRICE YIELD TOTAL --------------------------------------------------------------------------------------------------------------------- GROSS RETURNS OAT HAY $80.00 3.50 TONS (STACKED) $280.00 _______ TOTAL $280.00 --------------------------------------------------------------------------------------------------------------------- PURCHASED PURCHASED INPUTS PRICE QUANTITY INPUTS TOTAL --------- ------ ----- -------------- -------- ----- SEED $0.23 100 LBS $23.00 $23.00 FERTILIZER (16-20-0) $0.170 150 LBS $25.50 $25.50 PUMP WATER* 28 AC. IN. _______ _______ SUBTOTAL $48.50 $48.50 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 0.34 HR $2.48 $4.32 $1.91 $3.14 $11.85 FLOAT 70 HP 0.16 HR $1.17 $0.83 $0.17 $0.46 $2.62 FERTILIZE (CUSTOM) $0.00 $0.00 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 3.19 HR $22.09 $35.18 $10.08 $28.69 $96.04 HARVEST OPERATIONS ------- ---------- SWATHER 16 FT 0.11 HR $0.80 $0.58 $1.60 $2.23 $5.22 BALER 126 HP 0.25 HR $1.83 $3.18 $1.82 $2.61 $9.43 BALE WAGON S. P. 0.20 HR $1.46 $2.02 $4.07 $1.83 $9.38 ____________ _______ _______ _______ _______ _______ SUBTOTAL 0.56 HR $4.09 $5.77 $7.50 $6.67 $24.02 OVERHEAD EXPENSES -------- -------- DOWNTIME 0.40 HR $2.90 $2.90 EMPLOYEE BENEFITS $4.71 $4.71 INSURANCE $0.52 $0.52 LAND TAXES $1.56 $1.56 SUPERVISION AND MANAGEMENT $22.48 $22.48 OTHER EXPENSES $45.94 $45.94 ____________ _______ _______ _______ _______ SUBTOTAL 0.40 HR $46.46 $30.09 $1.56 $78.11 ------------ ------- ------- ------- ------- ------- ------- TOTAL OPERATING EXPENSES 4.15 HR $94.96 $56.26 $40.94 $17.58 $36.92 $246.67 NET OPERATING PROFIT $33.33 INTEREST ON OPERATING CAPITAL ( 36.67 @ 9.00%) $3.30 INTEREST ON EQUIPMENT INVESTMENT $13.78 RETURN TO LAND AND RISK $16.25 ===================================================================================================================== * Pump water costs are shown under irrigation in the preharvest operation section. BUDGET SUMMARY GROSS RETURN $280.00 VARIABLE OPERATING EXPENSES $153.49 RETURN OVER VARIABLE EXPENSES $126.51 (GROSS MARGIN) FIXED EXPENSES $36.92 NET FARM INCOME $89.59 (RETURN TO CAPITAL, LABOR, LAND & RISK) LABOR AND MANAGEMENT COST $56.26 NET OPERATING PROFIT $33.33 (RETURN TO CAPITAL, LAND & RISK) CAPITAL COSTS $17.08 RETURN TO LAND AND RISK $16.25 ===================================================================================================