TABLE 7. Permanent pasture, flood-irrigated, budgeted per acre costs and returns for a 30 acre farm with above
         with above average management, De Baca County, 2001.
              Harvest dates: Year Round
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         ITEM                  PRICE             YIELD                                                          TOTAL
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GROSS RETURNS
    PASTURE                  $12.00             10.00  AUMS                                                  $120.00
                                                                                                             _______
         TOTAL                                                                                               $120.00
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                                                               PURCHASED                               FIXED
PURCHASED INPUTS               PRICE             QUANTITY        INPUTS                                 COST    TOTAL
   PHOSPHATE                  $0.39                34            $13.26                                       $13.26
    NITROGEN                  $0.42                70  LBS       $29.40                                       $29.40
    ESTABLISHMENT: Principal                       20  YEARS                                         $11.12   $11.12
                 : Interest                                                                           $8.86    $8.86
    CANAL WATER                                    24  AC. IN.                                       $39.00   $39.00
                                                                 ______                              ______  _______
         SUBTOTAL                                                $42.66                              $58.97  $101.63
 
                               POWER         ACCOMPLISHMENT    PURCHASED              FUEL             FIXED
PREHARVEST OPERATIONS           UNIT              RATE            INPUTS    LABOR   & LUBE  REPAIRS     COST    TOTAL
    FERTILIZE                40HP                0.05                      $0.34    $0.20    $0.01    $8.90    $9.45
    IRRIGATE (3X)                                5.00  HR                 $33.75                              $33.75
    CLEAN DITCHES CUSTOM                        _________         $5.00   ______   ______   ______   ______    $5.00
         SUBTOTAL                                5.00  HR         $5.00   $34.09    $0.20    $0.01    $8.90   $48.20
 
OVERHEAD EXPENSES
-------- --------
    DOWNTIME                                                               $0.00                               $0.00
    EMPLOYEE BENEFITS                                                      $4.09                               $4.09
    INSURANCE                                                     $0.41                                        $0.41
    LAND TAXES                                                                                        $0.60    $0.60
    SUPERVISION AND MANAGEMENT                                            $10.90                              $10.90
    OTHER EXPENSES                                              $125.33                                      $125.33
                                                                 ______   ______                     ______   ______
         SUBTOTAL                                               $125.74   $14.99                      $0.60  $141.34
                                                ---------        ------   ------   ------   ------  -------  -------
TOTAL OPERATING EXPENSES                         5.00  HR       $173.40   $49.08    $0.20    $0.01   $68.48  $291.17
 
NET OPERATING PROFIT                                                                                        ($171.17)
 
    INTEREST ON OPERATING CAPITAL           ( $101.63     @        9.00%)                                      $5.33
    INTEREST ON EQUIPMENT INVESTMENT                                                                           $4.88
 
RETURN TO LAND AND RISK                                                                                     ($181.38)
=====================================================================================================================
                                         BUDGET SUMMARY
 
GROSS RETURN                                  $120.00
  VARIABLE OPERATING EXPENSES        $173.61
RETURN OVER VARIABLE EXPENSES                 ($53.61)    (GROSS MARGIN)
  FIXED EXPENSES                      $68.48
NET FARM INCOME                              ($122.09)    (RETURN TO CAPITAL, LABOR, LAND & RISK)
  LABOR AND MANAGEMENT COST           $49.08
NET OPERATING PROFIT                         ($171.17)    (RETURN TO CAPITAL, LAND & RISK)
  CAPITAL COSTS                       $10.21
RETURN TO LAND AND RISK                      ($181.38)
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