TABLE 5. Alfalfa hay, flood-irrigated, budgeted per acre costs and returns for a 35 acre part-time farm,
Hondo Valley, Lincoln County, 2001.
Harvesting dates: June 15 - September 15
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ITEM PRICE YIELD TOTAL
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GROSS RETURNS
ALFALFA HAY $118.00 4.00 TONS STACKED $472.00
GRAZING $15.00 1.00 ACRE $15.00
_______
TOTAL $487.00
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PURCHASED FIXED
PURCHASED INPUTS PRICE QUANTITY INPUTS COST TOTAL
--------- ------ ------ ----------- ------ ------ ------
NITROGEN (N) $0.24 20 LBS $4.80 $4.80
PHOSPHORUS (P2O5) $0.20 90 LBS $18.00 $18.00
INSECTICIDE $14.63 1 ACRE $14.63 $14.63
WIRE $0.37 35 LBS $12.98 $12.98
ESTABLISHMENT: Principal 5 YEARS $37.60 $37.60
: Interest $7.08 $7.08
CANAL WATER 30 AC. IN.
PUMP WATER* 6 AC. IN.
______ ______ _______
SUBTOTAL $50.40 $44.68 $95.08
POWER ACCOMPLISHMENT PURCHASED FUEL FIXED
PREHARVEST OPERATIONS UNIT RATE INPUTS LABOR &OIL REPAIRS COST TOTAL
---------- ---------- -------------- ----------- --------- ------ ------ ------- ------ -------
FERT. SPREADER 30 HP 0.30 HR $1.88 $0.65 $0.08 $0.76 $3.37
DITCH MAINTENANCE 0.25 HR $1.56 $1.56
IRRIGATE (6X) 3.00 HR $17.85 $7.18 $0.61 $25.82 $51.46
_________ ______ ______ ______ ______ ______
SUBTOTAL 3.55 HR $21.29 $7.83 $0.70 $26.58 $56.39
HARVEST OPERATIONS
------- ----------
MOWER (3X) 30 HP 3.00 HR $18.75 $6.50 $3.53 $15.66 $44.45
RAKE (3X) 30 HP 1.50 HR $9.38 $3.25 $1.53 $17.65 $31.81
BALER, PTO (3X) 30 HP 1.50 HR $9.38 $3.25 $0.59 $17.11 $30.32
HAUL (3X) 30 HP 1.50 HR $9.38 $3.25 $0.32 $0.74 $13.69
_________ ______ ______ ______ ______ ______
SUBOTOTAL 7.50 HR $46.88 $16.25 $5.99 $51.16 $120.27
OVERHEAD EXPENSES
-------- --------
DOWNTIME 2.01 HR $12.58 $12.58
EMPLOYEE BENEFITS $8.18 $8.18
FARM INSURANCE $0.82 $0.82
LAND TAXES $1.59 $1.59
SUPERVISION AND MANAGEMENT $26.51 $26.51
OTHER EXPENSES $115.61 $115.61
_________ ______ ______ ______ ______
SUBTOTAL 2.01 HR $116.42 $47.26 $1.59 $165.28
--------- ------ ------ ------ ------ ------- -------
TOTAL OPERATING EXPENSES 13.06 HR $166.83 $115.43 $24.08 $6.68 $124.01 $437.03
NET OPERATING PROFIT $49.97
INTEREST ON OPERATING CAPITAL ( $241.17 @ 9.00%) $6.34
INTEREST ON EQUIPMENT INVESTMENT $67.76
RETURN TO LAND AND RISK ($24.13)
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* Pump water costs are shown under irrigation in the preharvest operations section.
BUDGET SUMMARY
GROSS RETURN $487.00 VARIABLE OPERATING EXPENSES $203.93 RETURN OVER VARIABLE EXPENSES $283.07 (GROSS MARGINS) FIXED EXPENSES $124.01 NET FARM INCOME $159.06 (RETURNS TO CAPITAL, LABOR, LAND & RISK) LABOR AND MANAGEMENT COST $115.43 NET OPERATING PROFIT $43.64 (RETURNS TO CAPITAL, LAND & RISK) CAPITAL COSTS $67.76 RETURN TO LAND AND RISK ($24.13) ===================================================================================================