TABLE 11. Whole farm summary, Dell City area, Otero County, 2001.
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GROSS RETURNS
ALFALFA HAY 280 ACRES
CROP $222,600
WHEAT 170 ACRES
CROP $17,850
GRAZING $4,250
ASCS DEFICIENCY $4,582
ASCS DIVERSION $0
WHITE CORN 50 ACRES
CROP $26,250
GRAZING $1,000
COTTON 84.5 ACRES
LINT $54,925
SEED $6,591
ASCS DEFICIENCY $2,380
ASCS DIVERSION $3,380
GRAIN SORGHUM 26 ACRES
CROP $3,825
ASCS DEFICIENCY $701
ASCS DIVERSION $0
GRAZING $255
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GROSS RETURN $348,589
CASH OPERATING EXPENSES
SEED $10,155
FERTILIZER $51,667
CHEMICALS $6,512
CROP INSURANCE $266
OTHER PURCHASED INPUTS $6,120
CANAL WATER $0
FUEL, OIL & LUBRICANTS-EQUIPMENT $13,357
FUEL-IRRIGATION $42,595
REPAIRS $14,625
CUSTOM CHARGES $24,371
LAND TAXES $1,813
OTHER EXPENSES $33,160
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TOTAL CASH EXPENSES $204,640
RETURN OVER CASH EXPENSES $143,949
FIXED EXPENSES $38,027
TOTAL EXPENSES $242,667
NET FARM INCOME $105,922
LABOR AND MANAGEMENT COSTS $51,866
NET OPERATING PROFIT $54,056
CAPITAL COSTS
INTEREST ON OPERATING CAPITAL $4,415
INTEREST ON EQUIPMENT INVESTMENT $13,570
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TOTAL CAPITAL COSTS $17,985
RETURN TO LAND AND RISK $36,071
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RETURN RETURN ON
LAND VALUE TO RISK* INVESTMENT**
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$500 /ACRE $23,271 9.53%
$750 /ACRE $16,871 7.44%
$1,000 /ACRE $10,471 6.09%
$1,250 /ACRE $4,071 5.16%
$1,500 /ACRE ($2,329) 4.48%
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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