TABLE 5. Alfalfa hay, flood-irrigated, budgeted per acre costs and returns for a 30 acre farm with above average management, De Baca County, 2001. Harvest dates: June 15 - October 15 --------------------------------------------------------------------------------------------------------------------- ITEM PRICE YIELD TOTAL --------------------------------------------------------------------------------------------------------------------- GROSS RETURNS ALFALFA HAY $90.00 5.00 TONS (STANDING)) $450.00 GRAZING $10.00 1.00 AUM $10.00 _______ TOTAL $460.00 --------------------------------------------------------------------------------------------------------------------- PURCHASED FIXED PURCHASED INPUTS PRICE QUANTITY INPUTS COST TOTAL --------- ------ ----- ----------- ------ ------ ------ NITROGEN (N) $0.42 35 LBS $35.10 $35.10 PHOSPHATE (P2O5) $0.39 90 LBS $12.86 $12.86 INSECTICIDE (CUSTOM) $12.86 1 ACRE $12.86 $12.86 WIRE $0.36 43 LBS $15.43 $15.43 ESTABLISHMENT: Principal 6 YEARS $28.21 $28.21 : Interest $6.02 $6.02 CANAL WATER 48 AC. IN. $39.00 $39.00 ______ ______ _______ SUBTOTAL $76.24 $73.24 $149.48 POWER ACCOMPLISHMENT PURCHASED FUEL FIXED PREHARVEST OPERATIONS UNIT RATE INPUTS LABOR & LUBE REPAIRS COST TOTAL ---------- ---------- -------------- ----------- --------- ------ ------ ------- ------ ------- IRRIGATE (3X) 2.25 HR $15.19 $15.19 _________ ______ ______ SUBTOTAL 2.25 HR $15.19 $15.19 OVERHEAD EXPENSES -------- DOWNTIME $0.00 $0.00 EMPLOYEE BENEFITS $1.82 $1.82 INSURANCE $0.18 $0.18 LAND TAXES $0.60 $0.60 SUPERVISION AND MANAGEMENT $34.45 $34.45 OTHER EXPENSES $125.33 $125.33 ______ ______ ______ ______ SUBTOTAL $125.52 $36.27 $0.60 $162.39 --------- ------ ------ ------- ------- TOTAL OPERATING EXPENSES 2.25 HR $201.76 $51.46 $73.84 $327.06 NET OPERATING PROFIT $132.94 INTEREST ON OPERATING CAPITAL ( $38.12 @ 9.00%) $3.43 INTEREST ON EQUIPMENT INVESTMENT $0.00 RETURN TO LAND AND RISK $129.51 ===================================================================================================================== BUDGET SUMMARY GROSS RETURN $460.00 VARIABLE OPERATING EXPENSES $201.76 RETURN OVER VARIABLE EXPENSES $258.24 (GROSS MARGIN) FIXED EXPENSES $73.84 NET FARM INCOME $184.40 (RETURN TO CAPITAL, LABOR, LAND & RISK) LABOR AND MANAGEMENT COST $51.46 NET OPERATING PROFIT $132.94 (RETURN TO CAPITAL, LAND & RISK) CAPITAL COSTS $3.43 RETURN TO LAND AND RISK $129.51 ===================================================================================================