TABLE 9. Whole farm summary, Tularosa Basin, Otero County, 2001.
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GROSS RETURNS
ALFALFA HAY 40 ACRES
CROP $28,800
OATS FOR HAY 5 ACRES
CROP $1,650
SORGHUM/SUDAN 5 ACRES
CROP $2,250
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GROSS RETURN $32,700
CASH OPERATING EXPENSES
SEED $729
FERTILIZER $2,020
CHEMICALS $914
CROP INSURANCE $0
OTHER PURCHASED INPUTS $806
CANAL WATER $0
FUEL, OIL & LUBRICANTS-EQUIPMENT $790
FUEL-IRRIGATION $4,363
REPAIRS $1,486
CUSTOM CHARGES $0
LAND TAXES $132
OTHER EXPENSES $5,261
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TOTAL CASH EXPENSES $16,501
RETURN OVER CASH EXPENSES $16,199
FIXED EXPENSES $9,948
TOTAL EXPENSES $26,449
NET FARM INCOME $6,251
LABOR AND MANAGEMENT COSTS $4,915
NET OPERATING PROFIT $1,336
CAPITAL COSTS
INTEREST ON OPERATING CAPITAL $312
INTEREST ON EQUIPMENT INVESTMENT $5,056
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TOTAL CAPITAL COSTS $5,368
RETURN TO LAND AND RISK ($4,032)
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RETURNS RETURN ON
LAND VALUE TO RISK* INVESTMENT**
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$700 /ACRE ($5,432) 1.42%
$900 /ACRE ($5,832) 1.28%
$1,100 /ACRE ($6,232) 1.17%
$1,300 /ACRE ($6,632) 1.07%
$1,500 /ACRE ($7,032) 0.99%
$1,700 /ACRE ($7,432) 0.93%
$1,900 /ACRE ($7,832) 0.87%
$2,100 /ACRE ($8,232) 0.81%
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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