TABLE 6.  Summary of per acre costs and returns for a 640 acre farm with
         above average management Curry County, 2001.
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                                                                CORN FOR
                                                 WHEAT             GRAIN
                                                  -----SPRINKLER-----
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PRIMARY YIELD                                   75.00  BUSHELS   105.00  CWT
PRIMARY PRICE                                   $3.00              3.57
  GOVERMENT PAYMENTS                            $0.46             48.30
  SECOND INCOME                                $40.00  ACRE       10.00  ACRE
 
GROSS RETURN                                  $299.50           $433.15
 
 
CASH OPERATING EXPENSES
     SEED                                       $8.80            $33.36
     FERTILIZER                                $58.85           $147.30
     CHEMICALS                                 $21.28            $37.47
     CROP INSURANCE                             $0.26             $0.16
     OTHER PURCHASED INPUTS
     CANAL WATER
     FUEL, OIL & LUBRICANTS-EQUIPMENT           $9.52            $11.39
     FUEL-IRRIGATION                           $40.36            $80.73
     REPAIRS                                   $14.76            $24.91
     CUSTOM CHARGES                            $20.76            $38.90
     LAND TAXES                                 $0.84             $0.84
     OTHER EXPENSES                            $41.41            $41.53
                                             _________         _________
         TOTAL CASH EXPENSES                  $216.84           $416.58
 
RETURN OVER CASH EXPENSES                      $82.66            $16.57
 
FIXED EXPENSES                                 $41.18            $62.03
 
         TOTAL EXPENSES                       $258.01           $478.61
 
NET FARM INCOME                                $41.49           ($45.46)
 
LABOR AND MANAGEMENT COSTS                     $34.62            $52.25
 
NET OPERATING PROFIT                            $6.86           ($97.71)
 
CAPITAL COSTS
     INTEREST ON OPERATING CAPITAL              $5.62            $12.75
     INTEREST ON EQUIPMENT INVESTMENT          $17.50            $23.80
                                             _________         _________
         TOTAL CAPITAL COSTS                   $23.13            $36.55
 
RETURN TO LAND AND RISK                       ($16.26)         ($134.26)
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