TABLE 5. Alfalfa hay, flood-irrigated, budgeted per acre costs and returns for a 200 acre farm with above average
management, Eastern Slope, 2001.
Harvest dates: June 10 - October 15
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ITEM PRICE YIELD TOTAL
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GROSS RETURNS
ALFALFA HAY $120.00 4.00 TONS (STACKED) $480.00
GRAZING $10.00 1.00 AUM $10.00
_______
TOTAL $490.00
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PURCHASED FIXED
PURCHASED INPUTS PRICE QUANTITY INPUTS COST TOTAL
--------- ------ ----- ----------- ------ ------ ------
NITROGEN (N) $0.42 40 LBS $16.80 $16.80
PHOSPHATE (P2O5) $0.39 30 LBS $11.70 $11.70
INSECTICIDE (CUSTOM) $0.00 0 ACRE $0.00 $0.00
WIRE $0.36 34 LBS $12.34 $12.34
ESTABLISHMENT: Principal 6 YEARS $38.17 $38.17
: Interest $9.89 $9.89
CANAL WATER 36 AC. IN. $5.00 $5.00
______ ______ _______
SUBTOTAL $40.84 $53.07 $93.91
POWER ACCOMPLISHMENT PURCHASED FUEL FIXED
PREHARVEST OPERATIONS UNIT RATE INPUTS LABOR & LUBE REPAIRS COST TOTAL
CLEAN DITCHES CUSTOM $10.00
IRRIGATE (6X) 2.25 HR $11.59 $11.59
FERTILIZE 40HP 0.05 ___ $0.26 $0.20 $0.02 $0.11 $0.59
SUBTOTAL 2.30 HR $10.00 $11.85 $0.20 $0.02 $0.11 $22.17
HARVEST OPERATIONS
------- ----------
MOWER CUSTOM $30.00 $30.00
BALER CUSTOM 4.15 $4.15
RAKE CUSTOM $104.00 $104.00
LOAD AND STACK CUSTOM $78.40 $78.40
SUBTOTAL $216.55 $216.55
OVERHEAD EXPENSES
--------
DOWNTIME $0.00 $0.00
EMPLOYEE BENEFITS $1.42 $1.42
INSURANCE $0.24 $0.24
LAND TAXES $2.43 $2.43
SUPERVISION AND MANAGEMENT $36.55 $36.55
OTHER EXPENSES $19.35 $19.35
______ ______ ______ ______
SUBTOTAL $19.59 $37.97 $2.43 $59.99
--------- ------ ------ ------ ------ ------- -------
TOTAL OPERATING EXPENSES 2.25 HR $335.79 $49.82 $0.20 $0.02 $55.60 $392.62
NET OPERATING PROFIT $97.38
INTEREST ON OPERATING CAPITAL ( $20.42 @ 9.00%) $1.84
INTEREST ON EQUIPMENT INVESTMENT $2.56
RETURN TO LAND AND RISK $92.98
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BUDGET SUMMARY
GROSS RETURN $490.00 VARIABLE OPERATING EXPENSES $336.01 RETURN OVER VARIABLE EXPENSES $153.99 (GROSS MARGIN) FIXED EXPENSES $55.60 NET FARM INCOME $98.38 (RETURN TO CAPITAL, LABOR, LAND & RISK) LABOR AND MANAGEMENT COST $49.82 NET OPERATING PROFIT $48.57 (RETURN TO CAPITAL, LAND & RISK) CAPITAL COSTS $4.40 RETURN TO LAND AND RISK $44.17 ===================================================================================================