TABLE 11. Summary of per acre costs and returns for a 640 acre farm with above average management, Roswell-Hagerman area, Chaves County, 2001. ------------------------------------------------------------------------------------------------------------ ALFALFA ALFALFA OAT PICKER STRIPPER CORN ESTABLISHMENT HAY WHEAT HAY COTTON COTTON SILAGE -----------------------------FLOOD----------------------------- ------------------------------------------------------------------------------------------------------------ TONS CWT TONS LBS LBS TONS PRIMARY YIELD 6.50 40.00 5.00 750.00 750.00 25.00 PRIMARY PRICE 130.00 130.00 80.00 0.69 0.65 16.00 GOVERNMENT PAYMENTS 0.00 30.80 0.00 72.00 72.00 0.00 SECOND INCOME 0.00 44.00 0.00 58.50 58.50 0.00 GROSS RETURN $845.00 $274.80 $400.00 $648.00 $618.00 $400.00 CASH OPERATING EXPENSES SEED $88.50 $11.00 $18.40 $11.20 $12.75 $31.40 FERTILIZER $40.00 $82.50 $35.70 $29.04 $29.04 $84.00 CHEMICALS $12.75 $69.19 $18.28 $66.71 $63.77 $42.33 CROP INSURANCE $0.98 $0.98 $0.98 $20.00 OTHER PURCHASED INPUTS $5.53 CANAL WATER FUEL, OIL & LUBRICANTS-EQUIPMENT $22.06 $15.29 $12.86 $12.29 $40.53 $46.19 $20.13 FUEL-IRRIGATION $22.34 $75.40 $39.10 $29.32 $39.10 $39.10 $67.02 REPAIRS $13.13 $15.31 $10.08 $7.70 $58.41 $33.43 $17.70 CUSTOM CHARGES $34.84 $115.25 $150.28 LAND TAXES $1.56 $1.56 $1.56 $1.56 $1.56 $1.56 OTHER EXPENSES $0.40 $31.61 $31.37 $31.34 $31.92 $32.00 $31.66 ________ ________ ________ ________ ________ ________ ________ TOTAL CASH EXPENSES $159.17 $253.88 $242.56 $136.31 $394.70 $409.09 $315.81 RETURN OVER CASH EXPENSES ($159.17) $591.12 $32.24 $263.69 $253.30 $208.91 $84.19 FIXED EXPENSES $33.52 $127.45 $27.93 $33.07 $170.01 $71.25 $44.13 TOTAL EXPENSES $192.70 $381.33 $270.49 $169.38 $564.71 $480.34 $359.94 NET FARM INCOME ($192.70) $463.67 $4.31 $230.62 $83.29 $137.66 $40.06 LABOR AND MANAGEMENT COSTS $43.52 $106.45 $49.17 $56.82 $116.87 $120.42 $77.57 NET OPERATING PROFIT ($236.22) $357.22 ($44.86) $173.80 ($33.58) $17.23 ($37.51) CAPITAL COSTS INTEREST ON OPERATING CAPITAL $7.17 $6.73 $3.43 $7.05 $6.84 $10.36 INTEREST ON EQUIPMENT INVESTMENT $37.06 $13.61 $16.84 $16.84 $44.24 $22.63 ________ ________ ________ ________ ________ ________ ________ TOTAL CAPITAL COSTS $0.00 $44.23 $20.34 $20.27 $23.89 $51.08 $32.99 RETURN TO LAND AND RISK ($236.22) $312.99 ($65.20) $153.53 ($57.47) ($33.84) ($70.50) ======== ======== ======== ======== ======== ======== ======== ============================================================================================================