TABLE 4. Wheat, flood-irrigated, budgeted per acre costs and returns for a 32O acre farm
with above average management, Portales Valley, Roosevelt County, 2001.
Planting Dates: August 20 - September 15
Harvest Dates: June 1 - June 25
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ITEM PRICE YIELD TOTAL
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GROSS RETURNS
WHEAT $3.00 55.00 BUSHELS $165.00
ASCS DEFICIENCY $0.46 55.00 BUSHELS $25.30
ASCS DIVERSION $0.00 $0.00
GRAZING $40.00 1.00 ACRE $40.00
_______
TOTAL $230.30
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PURCHASED
PURCHASED INPUTS PRICE QUANTITY INPUTS TOTAL
--------- ------ ----- ------------ ------ ------
SEED $0.11 60 LBS $6.60 $6.60
NITROGEN (N) $0.42 100 LBS $42.00 $42.00
PHOSPHATE (P205) $0.39 40 LBS $15.60 $15.60
INSECTICIDE (CUSTOM) $19.07 1 X/ACRE $19.07 $19.07
PUMP WATER* 25 AC. IN.
CROP INSURANCE $0.74 $0.74 $0.74
SUBTOTAL $84.00 $84.00
POWER ACCOMPLISHMENT PURCHASED FUEL, FIXED
PREHARVEST OPERATIONS UNIT RATE INPUTS LABOR LUBE REPAIRS COST TOTAL
---------- ---------- -------------- ------------ ---------- ----- ----- ------- ----- ------
ROD WEEDER 126 HP 0.08 HR $0.60 $0.72 $0.40 $0.52 $2.25
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
DRILL 126 HP 0.18 HR $1.36 $1.62 $1.12 $7.06 $11.16
IRRIGATE (5X) 2.50 HR $16.88 $39.14 $5.66 $24.05 $85.73
__________ ______ ______ ______ ______ ______
SUBTOTAL 3.43 HR $23.90 $50.93 $17.09 $43.78 $135.69
HARVEST OPERATIONS
------- ----------
COMBINE (CUSTOM) $21.25 $21.25
HAUL (CUSTOM) $8.80 $8.80
______ ______
SUBTOTAL $30.05 $30.05
OVERHEAD EXPENSES
-------- --------
DOWNTIME 0.23 HR $1.76 $1.76
EMPLOYEE BENEFITS $4.30 $4.30
INSURANCE $0.48 $0.48
LAND TAXES $0.63 $0.63
SUPERVISION AND MANAGEMENT $19.09 $19.09
OTHER EXPENSES $64.84 $64.84
__________ ______ ______ ______ ______
SUBTOTAL 0.23 HR $65.32 $25.14 $0.63 $91.10
---------- ------- ------ ------ ------ ------ -------
TOTAL OPERATING EXPENSES 3.66 HR $179.38 $49.04 $50.93 $17.09 $44.41 $340.85
NET OPERATING PROFIT ($110.55)
INTEREST ON OPERATING CAPITAL ( $61.51 @ 9.00%) $5.54
INTEREST ON EQUIPMENT INVESTMENT $14.28
RETURN TO LAND AND RISK ($130.36)
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* Pump water costs are shown under irrigation in the preharvest operations section.
BUDGET SUMMARY
GROSS RETURN $230.30 VARIABLE OPERATING EXPENSES $247.40 RETURN OVER VARIABLE EXPENSES ($17.10) (GROSS MARGIN) FIXED EXPENSES $44.41 NET FARM INCOME ($61.51) (RETURN TO CAPITAL, LABOR, LAND & RISK) LABOR AND MANAGEMENT COST $49.04 NET OPERATING PROFIT ($110.55) (RETURN TO CAPITAL, LAND & RISK) CAPITAL COSTS $19.81 RETURN TO LAND AND RISK ($130.36) =====================================================================================================