TABLE 7. White corn, flood-irrigated, budgeted per acre costs and returns for a 640 acre farm
with above average management, Dell City area, Otero County, 2001.
Planting dates: April 15 - May 15
Harvesting dates: October 1 - November 15
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ITEM PRICE YIELD TOTAL
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GROSS RETURNS
CORN $7.50 70.00 CWT $525.00
GRAZING $20.00 1.00 ACRE $20.00
_______
TOTAL $545.00
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PURCHASED
PURCHASED INPUTS PRICE QUANTITY INPUTS TOTAL
--------- ------ ----- ----------- ------ ------
SEED $0.79 25 000 $19.63 $19.63
NITROGEN (N) $0.42 30 LBS $12.60 $12.60
PHOSPHATE (P2O5) $0.39 70 LBS $27.30 $27.30
TRACE ELEMENTS $0.15 65 LBS $9.75 $9.75
ANHYDROUS (NH3) $0.2000 175 LBS $35.00 $35.00
INSECTICIDE (CUSTOM) $15.27 3 ACRE $45.82 $45.82
HERBICIDE $9.00 1 ACRE $9.00 $9.00
LIVESTOCK FAC & EQUIP $5.00 $5.00
PUMP WATER* 48 AC. IN. $0.00
_______ _______ _______
SUBTOTAL $159.10 $5.00 $164.10
POWER ACCOMPLISHMENT PURCHASED FUEL FIXED
PREHARVEST OPERATIONS UNIT RATE INPUTS LABOR & LUBE REPAIRS COST TOTAL
---------- ---------- -------------- ----------- --------- ----- ----- ------- ----- ------
DISC 155 HP 0.14 HR $1.06 $1.92 $0.89 $3.03 $6.90
CHISEL 155 HP 0.20 HR $1.51 $2.75 $0.98 $4.99 $10.23
ANHYDROUS APPL 155 HP 0.20 HR $7.00 $1.51 $2.75 $0.94 $3.67 $15.87
DISC & SPRAY 155 HP 0.19 HR $1.43 $2.61 $1.50 $6.96 $12.51
LISTER 155 HP 0.12 HR $0.91 $1.65 $0.71 $3.64 $6.91
PLANTER 93 HP 0.17 HR $1.28 $1.60 $1.26 $5.62 $9.76
ROLLING CULT (3X) 93 HP 0.39 HR $2.94 $3.66 $1.25 $2.39 $10.25
IRRIGATE (8X) 4.00 HR $27.00 $94.21 $1.93 $24.92 $148.05
_________ ______ ______ ______ ______ ______ _______
SUBTOTAL 5.41 HR $7.00 $37.65 $111.15 $9.48 $55.21 $220.48
HARVEST OPERATIONS
------- ----------
COMBINE (CUSTOM) $23.25 $23.25
HAUL (CUSTOM) $14.00 $14.00
______ ______ ______ ______ ______ _______
SUBTOTAL $37.25 $0.00 $0.00 $0.00 $0.00 $37.25
OVERHEAD EXPENSES
-------- --------
DOWNTIME 0.27 HR $2.06 $2.06
EMPLOYEE BENEFITS $6.78 $6.78
INSURANCE $0.75 $0.75
LAND TAXES $2.97 $2.97
SUPERVISION AND MANAGEMENT $44.27 $44.27
OTHER EXPENSES $53.75 $53.75
_________ ______ ______ _______ _______
SUBTOTAL 0.27 HR $54.50 $53.10 $2.97 $110.57
--------- ------- ------ ------ ------ ------ -------
TOTAL OPERATING EXPENSES 5.68 HR $257.86 $90.74 $111.15 $9.48 $63.18 $532.41
NET OPERATING PROFIT $12.59
INTEREST ON OPERATING CAPITAL ( $109.71 @ 9.00%) $9.87
INTEREST ON EQUIPMENT INVESTMENT $21.08
RETURN TO LAND AND RISK ($18.36)
=====================================================================================================================
* Pump water costs are shown under irrigation in the preharvest operations section.
BUDGET SUMMARY
GROSS RETURN $545.00 VARIABLE OPERATING EXPENSES $378.48 RETURN OVER VARIABLE EXPENSES $166.52 (GROSS MARGIN) FIXED EXPENSES $63.18 NET FARM INCOME $103.34 (RETURN TO CAPITAL, LABOR, LAND & RISK) LABOR AND MANAGEMENT COST $90.74 NET OPERATING PROFIT $12.59 (RETURN TO CAPITAL, LAND & RISK) CAPITAL COSTS $30.96 RETURN TO LAND AND RISK ($18.36) ===================================================================================================