TABLE 10. Corn silage, flood-irrigated, budgeted per acre costs and returns for a 640 acre farm with above average management, Roswell-Hagerman area, 2001. Planting dates: April 1 - April 15 Harvesting dates: August 1 - August 31 --------------------------------------------------------------------------------------------------------------------- ITEM PRICE YIELD TOTAL --------------------------------------------------------------------------------------------------------------------- GROSS RETURNS CORN FOR SILAGE $16.00 STANDING 25 TONS $400.00 _______ TOTAL $400.00 --------------------------------------------------------------------------------------------------------------------- PURCHASED PURCHASED INPUTS PRICE QUANTITY INPUTS TOTAL --------- ------ ----- ----------- -------- ----- SEED $0.98 32 000 $31.40 $31.40 NITROGEN (N) $0.42 200 LBS $84.00 $84.00 INSECTICIDE (CUSTOM) 2X $42.33 1 ACRE $42.33 $42.33 CROP INSURANCE 400 DOLLARS $20.00 $20.00 PUMP WATER* 48 AC. IN. _______ _______ SUBTOTAL $177.73 $177.73 POWER ACCOMPLISHMENT PURCHASED FUEL FIXED PREHARVEST OPERATIONS UNIT RATE INPUTS LABOR & LUBE REPAIRS COST TOTAL ---------- ---------- -------------- ----------- --------- ----- ----- ------- ----- ----- DISC 145 HP 0.17 HR $1.28 $2.15 $1.22 $2.73 $7.37 PLOW 145 HP 0.48 HR $3.62 $6.07 $2.93 $6.05 $18.68 FLOAT 130 HP 0.16 HR $1.21 $1.63 $1.00 $1.23 $5.07 FERTILIZE DEALER APPLIED LISTER 130 HP 0.18 HR $1.36 $1.84 $1.28 $2.34 $6.81 PRE-IRRIGATE 0.75 HR $4.84 $11.17 $0.82 $3.69 $20.52 CULT & SPRAY 96 HP 0.26 HR $1.96 $1.82 $1.42 $1.83 $7.03 PLANTER 130 HP 0.26 HR $1.96 $2.65 $3.06 $5.73 $13.41 CULTIVATOR (2X) 96 HP 0.42 HR $3.17 $2.94 $1.24 $1.01 $8.36 DITCHER (2X) 130 HP 0.10 HR $0.76 $1.02 $0.62 $1.08 $3.47 IRRIGATE (5X) 2.50 HR $16.13 $55.85 $4.12 $18.45 $94.54 _________ _______ _______ _______ _______ _______ SUBTOTAL 5.28 HR $36.29 $87.15 $17.70 $44.13 $185.27 OVERHEAD EXPENSES -------- -------- DOWNTIME 0.51 HR $2.54 $2.54 EMPLOYEE BENEFITS $6.53 $6.53 INSURANCE $0.73 $0.73 LAND TAXES $1.56 $1.56 SUPERVISION AND MANAGEMENT $32.22 $32.22 OTHER EXPENSES $30.94 $30.94 _________ _______ _______ _______ _______ SUBTOTAL 0.51 HR $31.66 $41.28 $1.56 $74.51 --------- ------- ------- ------- ------- ------- ------- TOTAL OPERATING EXPENSES 5.79 HR $209.40 $77.57 $87.15 $17.70 $45.69 $437.51 NET OPERATING PROFIT ($37.51) INTEREST ON OPERATING CAPITAL ( 115.08 @ 9.00%) $10.36 INTEREST ON EQUIPMENT INVESTMENT $22.63 RETURN TO LAND AND RISK ($70.50) ===================================================================================================================== * Pump water costs are shown under irrigation in the preharvest operations section. BUDGET SUMMARY GROSS RETURN $400.00 VARIABLE OPERATING EXPENSES $314.25 RETURN OVER VARIABLE EXPENSES $85.75 (GROSS MARGIN) FIXED EXPENSES $45.69 NET FARM INCOME $40.06 (RETURN TO CAPITAL, LABOR, LAND & RISK) LABOR AND MANAGEMENT COST $77.57 NET OPERATING PROFIT ($37.51) (RETURN TO CAPITAL, LAND & RISK) CAPITAL COSTS $32.99 RETURN TO LAND AND RISK ($70.50) ===================================================================================================