TABLE 6. Wheat, dryland, budgeted per acre costs and returns for an 800 acre farm with above
average management, San Jon-Nara Visa area, Quay County, 2001.
Planting dates: September 1 - September 15
Harvesting dates: June 15 - July 15
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ITEM PRICE YIELD TOTAL
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GROSS RETURNS
WHEAT $3.00 15.00 BUSHELS $45.00
ASCS DEFICIENCY $0.46 15.00 BUSHELS $6.90
ASCS DIVERSION $0.00 $0.00
GRAZING $2.00 1.00 ACRE $2.00
______
TOTAL $53.90
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PURCHASED
PURCHASED INPUTS PRICE QUANTITY INPUTS TOTAL
--------- ------ ----- ----------- ----- -----
SEED $0.11 25 LBS $2.75 $2.75
CROP INSURANCE $0.15 $0.15 $0.15
SUBTOTAL $2.90 $2.90
POWER ACCOMPLISHMENT PURCHASED FUEL FIXED
PREHARVEST OPERATIONS UNIT RATE INPUTS LABOR &OIL REPAIRS COST TOTAL
---------- ---------- -------------- ----------- --------- ----- ----- ------- ----- -----
SWEEP (2X) 145 HP 0.26 HR $1.96 $3.29 $1.52 $4.77 $11.54
RODWEED 145 HP 0.16 HR $1.21 $2.02 $0.80 $2.66 $6.69
DRILL 96 HP 0.09 HR $0.68 $0.68 $0.36 $1.42 $3.14
_________ ______ ______ ______ ______ ______
SUBTOTAL 0.51 HR $3.85 $5.99 $2.68 $8.85 $21.37
HARVEST OPERATIONS
------- ----------
COMBINE 22 FT 0.14 HR $1.06 $1.64 $3.23 $11.65 $17.58
HAUL 2 TON 0.14 HR $1.06 $1.25 $0.61 $3.24 $6.16
_________ ______ ______ ______ ______ ______
SUBTOTAL 0.28 HR $2.11 $2.88 $3.84 $14.89 $23.73
OVERHEAD EXPENSES
-------- --------
DOWNTIME 0.20 HR $0.74 $0.74
EMPLOYEE BENEFITS $0.89 $0.89
INSURANCE $0.12 $0.12
LAND TAXES $0.33 $0.33
SUPERVISION AND MANAGEMENT $2.70 $2.70
OTHER EXPENSES $22.16 $22.16
_________ ______ ______ ______ ______
SUBTOTAL 0.20 HR $22.28 $4.33 $0.33 $26.94
--------- ------ ------ ------ ------ ------ ------
TOTAL OPERATING EXPENSES 0.99 HR $25.03 $10.29 $8.87 $6.52 $24.07 $74.79
NET OPERATING PROFIT ($20.89)
INTEREST ON OPERATING CAPITAL ( $4.18 @ 9.00%) $0.38
INTEREST ON EQUIPMENT INVESTMENT $14.21
RETURN TO LAND AND RISK ($35.48)
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BUDGET SUMMARY
GROSS RETURN $53.90 VARIABLE OPERATING EXPENSES $40.43 RETURN OVER VARIABLE EXPENSES $13.47 (GROSS MARGIN) FIXED EXPENSES $24.07 NET FARM INCOME ($10.60) (RETURN TO CAPITAL, LABOR, LAND & RISK) LABOR AND MANAGEMENT COST $10.29 NET OPERATING PROFIT ($20.89) (RETURN TO CAPITAL, LAND & RISK) CAPITAL COSTS $14.59 RETURN TO LAND AND RISK ($35.48) ===================================================================================================