TABLE 5. Alfalfa hay, flood irrigated, budgeted per acre costs and returns for a farm with above
average management, Arch Hurley Conservancy District, Quay County, 2001.
Harvesting dates: May 25 - October 15 Grazing dates: October 15 - December 15
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ITEM PRICE YIELD TOTAL
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GROSS RETURNS
ALFALFA HAY $120.00 4.50 TONS (STACKED) $540.00
GRAZING $8.00 4 AUM $32.00
TOTAL $572.00
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PURCHASED FIXED
PURCHASED INPUTS PRICE QUANTITY INPUTS COST TOTAL
--------- ------ ----- ----------- ------ ------ ------
PHOSPHATE (P205) $0.39 60 LBS $23.40 $23.40
WIRE $0.36 39 LBS $13.88 $13.88
ESTABLISHMENT: Principal 6 YEARS $25.25 $25.25
: Interest $7.90 $7.90
CANAL WATER: Assessment $7.00 1 ACRE $7.00 $7.00
Water $7.00 24 AC. IN. $14.00 $14.00
MANURE CREDIT $1.00 4 AUM $4.00 $4.00
______ ______ _______
SUBTOTAL $62.28 $33.15 $95.43
POWER ACCOMPLISHMENT PURCHASED FUEL FIXED
PREHARVEST OPERATIONS UNIT RATE INPUTS LABOR &OIL REPAIRS COST TOTAL
---------- ---------- -------------- ----------- --------- ------ ------ ------- ------ -------
HARROW 70 HP 0.10 HR $0.76 $0.52 $0.15 $0.25 $1.67
FERT SPREADER 70 HP 0.05 HR $0.38 $0.26 $0.22 $0.57 $1.42
DITCHER 70 HP 0.05 HR $0.38 $0.26 $0.08 $0.34 $1.06
IRRIGATE (4X) 2.00 HR $13.50 $13.50
_________ ______ ______ ______ ______ _______
SUBTOTAL 2.20 HR $15.01 $1.03 $0.45 $1.16 $17.65
HARVEST OPERATIONS
------- ----------
SWATHER (4X) 14 FT SP 0.64 HR $4.83 $3.35 $2.41 $15.72 $26.32
BALER (4X) 70 HP 0.84 HR $6.34 $4.35 $2.41 $5.10 $18.20
BALE WAGON, PTO (4X) 145 HP 0.80 HR $6.04 $10.11 $8.28 $15.15 $39.58
_________ ______ ______ ______ ______ ______ ______
SUBTOTAL 2.28 HR $0.00 $17.21 $17.82 $13.11 $35.97 $84.11
OVERHEAD EXPENSES
-------- --------
DOWNTIME 0.41 HR $3.08 $3.08
EMPLOYEE BENEFITS $5.80 $5.80
INSURANCE $0.64 $0.64
LAND TAXES $0.81 $0.81
SUPERVISION AND MANAGEMENT $42.86 $42.86
OTHER EXPENSES $31.57 $31.57
_________ ______ ______ ______ ______
SUBTOTAL 0.41 HR $32.21 $51.73 $0.81 $84.75
--------- ------ ------ ------ ------ ------- -------
TOTAL OPERATING EXPENSES 4.89 HR $94.49 $83.96 $18.85 $13.56 $71.09 $281.95
NET OPERATING PROFIT $290.05
INTEREST ON OPERATING CAPITAL ( $34.09 @ 9.00%) $3.07
INTEREST ON EQUIPMENT INVESTMENT $29.79
RETURN TO LAND AND RISK $257.20
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BUDGET SUMMARY
GROSS RETURN $572.00 VARIABLE OPERATING EXPENSES $126.90 RETURN OVER VARIABLE EXPENSES $445.10 (GROSS MARGIN) FIXED EXPENSES $71.09 NET FARM INCOME $374.01 (RETURN TO CAPITAL, LABOR, LAND & RISK) LABOR AND MANAGEMENT COST $83.96 NET OPERATING PROFIT $290.05 (RETURN TO CAPITAL, LAND & RISK) CAPITAL COSTS $32.86 RETURN TO LAND AND RISK $257.20 ===================================================================================================