TABLE 5. Corn for grain, flood-irrigated, budgeted per acre costs and returns for a 320 acre farm
with above average management, Portales Valley, Roosevelt County, 2001.
Planting Dates: April 15 - May 15
Harvest Dates: November 1 - November 30
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ITEM PRICE YIELD TOTAL
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GROSS RETURNS
CORN FOR GRAIN $3.57 65.00 CWT $232.05
ASCS DEFICIENCY $0.46 65.00 CWT $29.90
ASCS DIVERSION $0.00 0.00 CWT $0.00
GRAZING $15.00 1.00 ACRE $15.00
_______
TOTAL $276.95
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PURCHASED
PURCHASED INPUTS PRICE QUANTITY INPUTS TOTAL
--------- ------ ----- ------------ ------ ------
SEED $0.98 28 000 $27.48 $27.48
NITROGEN (N) $0.42 150 LBS $63.00 $63.00
PHOSPHATE (P205) $0.39 60 LBS $23.40 $23.40
HERBICIDE $15.14 1 X/ACRE $15.14 $15.14
INSECTICIDE (CUSTOM) $16.17 2 X/ACRE $32.33 $32.33
PUMP WATER* 38 AC. IN.
CROP INSURANCE $0.98 $0.98 $0.98
SUBTOTAL $162.33 $162.33
POWER ACCOMPLISHHMENT PURCHASED FUEL, FIXED
PREHARVEST OPERATIONS UNIT RATE INPUTS LABOR LUBE REPAIRS COST TOTAL
---------- ---------- -------------- ------------ ---------- ----- ----- ------- ----- ------
DISC 185 HP 0.14 HR $1.06 $2.03 $2.13 $2.69 $7.91
PLOW 185 HP 0.48 HR $3.62 $6.97 $7.55 $9.31 $27.46
DISC 185 HP 0.14 HR $1.06 $2.03 $2.13 $2.69 $7.91
FERT SPREADER 126 HP 0.05 HR $0.38 $0.45 $0.23 $0.14 $1.20
SPRAY & DISC 185 HP 0.17 HR $1.28 $2.47 $2.99 $4.11 $10.86
LISTER 126 HP 0.12 HR $0.91 $1.08 $0.74 $1.37 $4.09
TRACK 126 HP 0.40 HR $3.02 $3.59 $1.84 $1.13 $9.58
PRE-IRRIGATE 0.75 HR $5.66 $9.92 $1.43 $6.09 $23.10
ROD WEED 185 HP 0.08 HR $0.60 $1.16 $1.12 $1.53 $4.42
PLANTER 185 HP 0.17 HR $1.28 $2.47 $3.45 $6.43 $13.63
CULTIVATOR (2X) 126 HP 0.26 HR $1.96 $2.34 $1.60 $2.25 $8.15
IRRIGATE (5X) 2.50 HR $16.88 $49.58 $7.17 $30.47 $104.09
__________ ______ ______ ______ ______ _______
SUBTOTAL 5.26 HR $37.71 $84.09 $32.36 $68.23 $222.40
HARVEST OPERATIONS
------- ----------
COMBINE (CUSTOM) $22.75 $22.75
HAUL (CUSTOM) $11.70 $11.70
______ ______
SUBTOTAL $34.45 $34.45
OVERHEAD EXPENSES
-------- --------
DOWNTIME 0.36 HR $2.70 $2.70
EMPLOYEE BENEFITS $6.79 $6.79
INSURANCE $0.75 $0.75
LAND TAXES $0.63 $0.63
SUPERVISION AND MANAGEMENT $22.73 $22.73
OTHER EXPENSES $64.84 $64.84
__________ ______ ______ _______ _______
SUBTOTAL 0.36 HR $65.60 $32.22 $0.63 $98.45
---------- ------- ------ ------ ------ ------ -------
TOTAL OPERATING EXPENSES 5.62 HR $262.37 $69.93 $84.09 $32.36 $68.86 $517.62
NET OPERATING PROFIT ($240.67)
INTEREST ON OPERATING CAPITAL ( $113.15 @ 9.00%) $10.18
INTEREST ON EQUIPMENT INVESTMENT $24.45
RETURN TO LAND AND RISK ($275.31)
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* Pump water costs are shown under irrigation in the preharvest operations section.
BUDGET SUMMARY
GROSS RETURN $276.95 VARIABLE OPERATING EXPENSES $378.83 RETURN OVER VARIABLE EXPENSES ($101.88) (GROSS MARGIN) FIXED EXPENSES $68.86 NET FARM INCOME ($170.74) (RETURN TO CAPITAL, LABOR, LAND & RISK) LABOR AND MANAGEMENT COST $69.93 NET OPERATING PROFIT ($240.67) (RETURN TO CAPITAL, LAND & RISK) CAPITAL COSTS $34.64 RETURN TO LAND AND RISK ($275.31) =====================================================================================================