TABLE 3. Alfalfa establishment, flood-irrigated, budgeted per acre costs and returns for a 300 acre farm with above average management, Cibola County, 2001. Planting Dates: May 15 - July 1 --------------------------------------------------------------------------------------------------------------------- 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 --------- ------ ----- ----------- ------ ------ ALFALFA SEED $2.95 20 LBS $59.00 $59.00 OAT SEED $0.23 30 LBS $6.90 $6.90 CANAL WATER 18 AC. IN. $9.00 $9.00 ______ ______ SUBTOTAL $74.90 $74.90 POWER ACCOMPLISHMENT PURCHASED FUEL FIXED PREHARVEST OPERATIONS UNIT RATE INPUTS LABOR & LUBE REPAIRS COST TOTAL ---------- ---------- ------ ---------- --------- ----- ----- ------- ----- ------ PLOW 93 HP 0.67 HR $4.32 $6.75 $2.33 $6.12 $19.52 DISC (2X) 93 HP 0.28 HR $1.81 $2.82 $1.06 $5.23 $10.91 FLOAT 93 HP 0.24 HR $1.55 $2.42 $0.30 $0.67 $4.94 DRILL 65 HP 0.21 HR $1.35 $1.48 $0.52 $5.31 $8.67 BORDER DISC 40 HP 0.05 HR $0.32 $0.22 $0.04 $0.66 $1.24 IRRIGATE (3X) 1.50 HR $7.73 $7.73 _________ ______ ______ ______ ______ _______ SUBTOTAL 2.95 HR $17.08 $13.69 $4.24 $17.99 $53.00 HARVEST OPERATIONS ------- ---------- SWATHER 16 FT 0.11 HR $0.71 $0.62 $0.79 $4.78 $6.90 BALER, 2-WIRE 65 HP 0.21 HR $1.35 $1.48 $0.17 $0.87 $3.88 BALEWAGON 93 HP 0.20 HR $1.29 $2.02 $1.86 $1.56 $6.72 _________ ______ ______ ______ ______ ______ SUBTOTAL 0.52 HR $3.35 $4.11 $2.81 $7.22 $17.50 OVERHEAD EXPENSES -------- -------- DOWNTIME 1.26 HR $8.09 $8.09 EMPLOYEE BENEFITS $3.68 $3.68 INSURANCE $0.41 $0.41 LAND TAXES $0.31 $0.31 SUPERVISION AND MANAGEMENT $11.44 $11.44 OTHER EXPENSES $66.29 $66.29 _________ ______ ______ ______ ______ SUBTOTAL 1.26 HR $66.70 $23.21 $0.31 $90.22 _________ _______ ______ ______ ______ ______ _______ TOTAL OPERATING EXPENSES 4.73 HR $141.60 $43.64 $17.81 $7.06 $25.52 $235.62 NET OPERATING PROFIT $44.38 INTEREST ON OPERATING CAPITAL ( $42.51 @ 9.00%) $3.83 INTEREST ON EQUIPMENT INVESTMENT $24.18 RETURN TO LAND AND RISK $16.37 =====================================================================================================================