TABLE 7. Oat hay, sprinkler-irrigated, budgeted per acre costs and returns for a 320 acre farm with above average management, Roswell-Hagerman area, 2001. Planting dates: February 15 - April 1 Harvesting dates: June 15 - July 1 --------------------------------------------------------------------------------------------------------------------- ITEM PRICE YIELD TOTAL --------------------------------------------------------------------------------------------------------------------- GROSS RETURNS OAT HAY $80.00 5.00 TONS (DELIVERED) $400.00 _______ TOTAL $400.00 --------------------------------------------------------------------------------------------------------------------- PURCHASED PURCHASED INPUTS PRICE QUANTITY INPUTS TOTAL --------- ------ ----- ----------- -------- ----- SEED $0.23 80 LBS $18.40 $18.40 NITROGEN (N) $0.42 85 LBS $35.70 $35.70 PUMP WATER* 21 AC. IN. _______ _______ SUBTOTAL $54.10 $54.10 POWER ACCOMPLISHMENT PURCHASED FUEL FIXED PREHARVEST OPERATIONS UNIT RATE INPUTS LABOR & LUBE REPAIRS COST TOTAL ---------- ---------- -------------- ----------- --------- ----- ----- ------- ----- ----- DISC (2X) 145 HP 0.34 HR $2.57 $4.30 $2.76 $11.00 $20.63 DRILL 96 HP 0.21 HR $1.59 $1.47 $0.92 $4.78 $8.75 DITCHER (2X) 130 HP 0.10 HR $0.76 $1.02 $0.32 $3.03 $5.12 IRRIGATE (4X) 1.00 HR $6.45 $75.74 $3.08 $17.65 $102.92 _________ _______ _______ _______ _______ _______ SUBTOTAL 1.65 HR $11.36 $82.53 $7.08 $36.46 $137.43 HARVEST OPERATIONS ------- ---------- SWATHER 14 FT 0.16 HR $1.21 $0.84 $1.50 $4.64 $8.18 RAKE 96 HP 0.05 HR $0.38 $0.35 $0.22 $0.49 $1.44 BALER 145 HP 0.05 HR $0.38 $0.63 $0.70 $5.69 $7.40 FRONT END LOADER 130 HP 0.05 HR $0.38 $0.51 $0.23 $1.30 $2.42 HAUL SEMI 0.50 HR $3.78 $3.68 $7.21 $14.92 $29.58 _________ _______ _______ _______ _______ _______ SUBTOTAL 0.81 HR $6.12 $6.01 $9.86 $27.04 $49.03 OVERHEAD EXPENSES -------- -------- DOWNTIME 0.37 HR $2.76 $2.76 EMPLOYEE BENEFITS $3.15 $3.15 INSURANCE $0.35 $0.35 LAND TAXES $1.56 $1.56 SUPERVISION AND MANAGEMENT $29.68 $29.68 OTHER EXPENSES $60.72 $60.72 _________ _______ _______ _______ _______ SUBTOTAL 0.37 HR $61.07 $35.58 $1.56 $98.21 --------- ------- ------- ------- ------- ------- ------- TOTAL OPERATING EXPENSES 2.83 HR $115.17 $53.05 $88.54 $16.94 $65.07 $338.77 NET OPERATING PROFIT $61.23 INTEREST ON OPERATING CAPITAL ( 50.77 @ 9.00%) $4.57 INTEREST ON EQUIPMENT INVESTMENT $33.15 RETURN TO LAND AND RISK $23.52 ===================================================================================================================== * Pump water costs are shown under irrigation in the preharvest operations section. BUDGET SUMMARY GROSS RETURN $400.00 VARIABLE OPERATING EXPENSES $220.64 RETURN OVER VARIABLE EXPENSES $179.36 (GROSS MARGIN) FIXED EXPENSES $65.07 NET FARM INCOME $114.29 (RETURN TO CAPITAL, LABOR, LAND & RISK) LABOR AND MANAGEMENT COST $53.05 NET OPERATING PROFIT $61.23 (RETURN TO CAPITAL, LAND & RISK) CAPITAL COSTS $37.72 RETURN TO LAND AND RISK $23.52 ===================================================================================================