TABLE 8. Whole farm summary, San Jon-Nara Visa area, Quay County, 2001.
------------------------------------------------------------------------
GROSS RETURNS
ALFALFA HAY 60 ACRES
CROP $9,900
GRAZING $720
GRAIN SORGHUM 400 ACRES
CROP $19,200
GRAZING $2,000
ASCS DEFICIENCY $2,543
WHEAT 340 ACRES
CROP $15,300
GRAZING $680
ASCS DEFICIENCY $2,346
ASCS DIVERSION $0
_________
GROSS RETURN $52,689
CASH OPERATING EXPENSES
SEED $2,152
FERTILIZER $20
CHEMICALS $0
CROP INSURANCE $100
OTHER PURCHASED INPUTS $383
CANAL WATER $0
FUEL, OIL & LUBRICANTS-EQUIPMENT $6,694
FUEL-IRRIGATION $0
REPAIRS $5,283
CUSTOM CHARGES $27
LAND TAXES $261
OTHER EXPENSES $17,730
_________
TOTAL CASH EXPENSES $32,650
RETURN OVER CASH EXPENSES $20,039
FIXED EXPENSES $18,576
TOTAL EXPENSES $51,225
NET FARM INCOME $1,464
LABOR AND MANAGEMENT COSTS $10,953
NET OPERATING PROFIT ($9,489)
CAPITAL COSTS
INTEREST ON OPERATING CAPITAL $550
INTEREST ON EQUIPMENT INVESTMENT $11,739
_________
TOTAL CAPITAL COSTS $12,290
RETURN TO LAND AND RISK ($21,779)
=========
========================================================================
-------------------------------------------------------
RETURN RETURN ON
LAND VALUE TO RISK* INVESTMENT**
-------------------------------------------------------
$150 /ACRE ($26,579) -0.04
$300 /ACRE ($31,379) -0.03
$450 /ACRE ($36,179) -0.02
$600 /ACRE ($40,979) -0.02
$750 /ACRE ($45,779) -0.01
$900 /ACRE ($50,579) -0.01
-------------------------------------------------------
* RETURN TO LAND AND RISK MINUS (INTEREST RATE TIMES LAND VALUE TIMES A
** NET OPERATING PROFIT DIVIDED BY (MACHINERY AND EQUIPMENT VALUE PLUS L