TABLE 9. Whole farm summary, Hondo Valley, Lincoln County, 2001.
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GROSS RETURNS
ALFALFA HAY 10 ACRES
CROP $4,720
GRAZING $150
PASTURE 20 ACRES
GRAZING $2,400
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GROSS RETURN $7,270
CASH OPERATING EXPENSES
SEED $226
FERTILIZER $600
CHEMICALS $146
CROP INSURANCE $0
OTHER PURCHASED INPUTS $130
CANAL WATER $0
FUEL, OIL & LUBRICANTS-EQUIPMENT $216
FUEL-IRRIGATION $215
REPAIRS $91
CUSTOM CHARGES $0
LAND TAXES $48
OTHER EXPENSES $3,713
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TOTAL CASH EXPENSES $5,385
RETURN OVER CASH EXPENSES $1,885
FIXED EXPENSES $2,158
TOTAL EXPENSES $7,543
NET FARM INCOME ($273)
LABOR AND MANAGEMENT COSTS $1,929
NET OPERATING PROFIT ($2,203)
CAPITAL COSTS
INTEREST ON OPERATING CAPITAL $154
INTEREST ON EQUIPMENT INVESTMENT $1,114
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TOTAL CAPITAL COSTS $1,268
RETURN TO LAND AND RISK ($3,471)
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RETURNS RETURN ON
LAND VALUE TO RISK* INVESTMENT**
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$700 /ACRE ($4,451) -4.09%
$900 /ACRE ($4,731) -3.62%
$1,100 /ACRE ($5,011) -3.25%
$1,300 /ACRE ($5,291) -2.94%
$1,500 /ACRE ($5,571) -2.69%
$1,700 /ACRE ($5,851) -2.48%
$1,900 /ACRE ($6,131) -2.30%
$2,100 /ACRE ($6,411) -2.14%
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* RETURN TO LAND AND RISK MINUS (INTEREST RATE TIMES LAND VALUE TIMES A
** NET OPERATING PROFIT DIVIDED BY (MACHINERY AND EQUIPMENT VALUE PLUS L