TABLE 7. Green chile, flood-irrigated, budgeted per acre costs and returns for a 640 acre farm with
         above average management, Deming area, Luna County, 2001.
              Planting dates: March 15 - May 1
              Harvesting dates: August 15 - September 15
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         ITEM                  PRICE                 YIELD                                                                  TOTAL
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GROSS RETURNS
    GREEN CHILE             $280.00                 11.00  TONS                                                        $3,080.00
    RED CHILE                 $0.00                  0.00  LBS                                                             $0.00
                                                                                                                      _______
         TOTAL                                                                                                         $3,080.00
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                                                                   PURCHASED
PURCHASED INPUTS               PRICE              QUANTITY           INPUTS                                                 TOTAL
--------- ------              -----              -------  -----      ------                                            ------
    SEED                     $21.00                     4  LBS        $84.00                                              $84.00
    ANHYDROUS AMMONIA (NH3) $0.2000                   300  LBS        $60.00                                              $60.00
    NITROGEN (N)              $0.42                    60  LBS        $25.20                                              $25.20
    PHOSPHATE (P2O5)          $0.39                   150  LBS        $58.50                                              $58.50
    HERBICIDE                $14.81                     1  ACRE       $14.81                                              $14.81
    INSECTICIDE              $14.81                     1  ACRE       $14.81                                              $14.81
    CROP INSURANCE           $58.40                     1  DOLLARS    $58.40                                              $58.40
    PUMP WATER*                                        54  AC. IN.
                                                                    _______                                           _______
         SUBTOTAL                                                    $315.72                                             $315.72
 
                               POWER          ACCOMPLISHMENT       PURCHASED                 FUEL               FIXED
PREHARVEST OPERATIONS           UNIT                  RATE             INPUTS     LABOR    & LUBE  REPAIRS       COST       TOTAL
---------- ----------      --------------       --------  ----     ----------   -----     -----    -------    -----    ------
    DISC                   185 HP                    0.14  HR                    $1.06     $1.96     $1.62     $1.99       $6.62
    PLOW                   185 HP                    0.48  HR                    $3.62     $6.73     $5.83     $6.94      $23.12
    DISC                   185 HP                    0.14  HR                    $1.06     $1.96     $1.62     $1.99       $6.62
    LASER (CUSTOM)                                                    $73.33                                              $73.33
    LISTER & SPRAY         140 HP                    0.13  HR                    $0.98     $1.38     $1.51     $1.60       $5.47
    FERTILIZE              140 HP                    0.05  HR                    $0.38     $0.53     $0.36     $0.30       $1.56
    PRE-IRRIGATE                                     0.75  HR                    $5.66    $10.04     $0.26     $3.26      $19.22
    ROLLING CULT           80 HP                     0.13  HR                    $0.98     $1.05     $0.38     $0.73       $3.14
    PLANTER                140 HP                    0.17  HR                    $1.28     $1.80     $3.03     $2.70       $8.82
    CULTIVATOR (5X)        80 HP                     0.65  HR                    $4.91     $5.25     $0.72     $1.17      $12.04
    THIN & HOE (CUSTOM)                                               $90.00                                              $90.00
    ROTO BUCK (7X)         140 HP                    0.21  HR                    $1.59     $2.23     $1.60     $1.55       $6.96
    IRRIGATE (14X)                                   7.00  HR                   $52.85   $140.49     $3.71    $45.57     $242.62
                                                 _______  ___        ______    ______    ______    ______    ______   _______
         SUBTOTAL                                    9.85  HR        $163.33    $74.37   $173.41    $20.63    $67.78     $499.52
 
HARVEST OPERATIONS
------- ----------
    HARVEST GREEN (CUSTOM)                                         $1,089.00                                           $1,089.00
    HARVEST RED (CUSTOM)                                               $0.00                                               $0.00
    HAUL                   3/4 TON                   6.00  HR                   $45.30    $51.03    $28.65    $21.10     $146.08
                                                 _______  ___       _______    ______    ______    ______    ______    ______
         SUBTOTAL                                    6.00  HR      $1,089.00    $45.30    $51.03    $28.65    $21.10   $1,235.08
 
POST HARVEST OPERATIONS
---- ------- ----------
    SHREDDER               80 HP                     0.29  HR                    $2.19     $2.34     $0.84     $1.62       $6.99
                                                 _______  ___       _______    ______    ______    ______    ______    ______
         SUBTOTAL                                    0.29  HR           0.00      2.19      2.34      0.84      1.62        6.99
 
OVERHEAD EXPENSES
-------- --------
    DOWNTIME                                         0.57  HR                    $4.27                                     $4.27
    EMPLOYEE BENEFITS                                                           $13.78                                    $13.78
    INSURANCE                                                          $1.53                                               $1.53
    LAND TAXES                                                                                                 $1.71       $1.71
    SUPERVISION AND MANAGEMENT                                                 $113.22                                   $113.22
    OTHER EXPENSES                                                    $53.11                                              $53.11
                                                 _______  ___        ______    ______                        _______   _______
         SUBTOTAL                                    0.57  HR         $54.64   $131.26                         $1.71     $187.61
                                                 -------  ---       -------    ------    ------    ------    ------   -------
TOTAL OPERATING EXPENSES                            16.71  HR      $1,622.69   $253.12   $226.79    $50.12    $92.21   $2,244.93
 
NET OPERATING PROFIT                                                                                                     $835.07
 
    INTEREST ON OPERATING CAPITAL           (     $304.03     @         9.00%)                                            $27.36
    INTEREST ON EQUIPMENT INVESTMENT                                                                                      $39.89
 
RETURN TO LAND AND RISK                                                                                                  $767.82
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    * Pump water costs are shown under irrigation in the preharvest operations section.
                                         BUDGET SUMMARY
 
GROSS RETURN                                    $3,080.00
  VARIABLE OPERATING EXPENSES          $1,900
RETURN OVER VARIABLE EXPENSES                   $1,180.40     (GROSS MARGIN)
  FIXED EXPENSES                       $92.21
NET FARM INCOME                                 $1,088.19     (RETURN TO CAPITAL, LABOR, LAND & RISK)
  LABOR AND MANAGEMENT COST           $253.12
NET OPERATING PROFIT                              $835.07     (RETURN TO CAPITAL, LAND & RISK)
  CAPITAL COSTS                        $67.25
RETURN TO LAND AND RISK                           $767.82
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