TABLE 4. Alfalfa establishment, sprinkler-irrigated, budgeted per acre costs and returns for a 960 acre farm with
         above average management, Blackwater Draw area, Roosevelt County, 2001.
              Planting Dates: August 15 - August 30
---------------------------------------------------------------------------------------------------------------------
         ITEM                  PRICE             QUANTITY      PURCHASED INPUTS                                 TOTAL
---------------------------------------------------------------------------------------------------------------------
 
PURCHASED INPUTS
--------- ------
    SEED                      $2.95                20  LBS       $59.00                                       $59.00
    NITROGEN (N)              $0.42                40  LBS       $16.80                                       $16.80
    PHOSPHATE (P2O5)          $0.39                60  LBS       $23.40                                       $23.40
    PUMP WATER*                                     9  AC. IN.
                                                                 ______                                       ______
         SUBTOTAL                                                $99.20                                       $99.20
 
                               POWER         ACCOMPLISHMENT    PURCHASED              FUEL             FIXED
PREHARVEST OPERATIONS           UNIT              RATE            INPUTS    LABOR   & LUBE  REPAIRS     COST    TOTAL
---------- ----------      --------------      -----------     ---------   -----    -----   -------   -----   ------
    DISC                   185 HP                0.09  HR                  $0.68    $1.31    $1.18    $1.33    $4.49
    PLOW                   185 HP                0.29  HR                  $2.19    $4.21    $3.64    $4.03   $14.08
    FLOAT                  140 HP                0.19  HR                  $1.43    $2.09    $1.76    $3.68    $8.96
    FERT SPREADER          140 HP                0.05  HR                  $0.38    $0.55    $0.46    $0.38    $1.77
    DISC                   185 HP                0.09  HR                  $0.68    $1.31    $1.18    $1.33    $4.49
    PRE-IRRIGATE                                 0.10  HR                  $0.68   $10.56    $1.59    $4.10   $16.93
    DRILL                  140 HP                0.10  HR                  $0.76    $1.10    $1.49    $4.68    $8.02
    IRRIGATE (2X)                                0.20  HR                  $1.35   $21.11    $3.18    $8.21   $33.85
                                                _________                 ______   ______   ______   ______   ______
         SUBTOTAL                                1.11  HR                  $8.14   $42.24   $14.47   $27.75   $92.60
 
OVERHEAD EXPENSES
-------- --------
    DOWNTIME                                     0.19  HR                  $1.43                               $1.43
    EMPLOYEE BENEFITS                                                      $1.47                               $1.47
    INSURANCE                                                     $0.16                                        $0.16
    SUPERVISION AND MANAGEMENT                                             $7.65                               $7.65
                                                _________        ______   ______                              ______
         SUBTOTAL                                0.19  HR          0.16   $10.55                              $10.71
                                                ---------       -------   ------   ------   ------   ------  -------
TOTAL OPERATING EXPENSES                         1.30  HR        $99.36   $18.69   $42.24   $14.47   $27.75  $202.51
=====================================================================================================================