TABLE 5. Corn for grain, sprinkler-irrigated, budgeted per acre costs and returns for a 320 acre farm with above
average management, Portales Valley, Roosevelt County, 2001.
Planting Dates: April 25 - May 30
Harvest Dates: November 1 - November 30
---------------------------------------------------------------------------------------------------------------------
ITEM PRICE YIELD TOTAL
---------------------------------------------------------------------------------------------------------------------
GROSS RETURNS
CORN FOR GRAIN $3.57 70.00 CWT $249.90
ASCS DEFICIENCY $0.46 70.00 CWT $32.20
ASCS DIVERSION $0.00 0.00 CWT $0.00
GRAZING $15.00 1.00 ACRE $15.00
_______
TOTAL $297.10
---------------------------------------------------------------------------------------------------------------------
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 $16.17 1 X/ACRE $16.17 $16.17
INSECTICIDE (CUSTOM) $19.07 2 X/ACRE $38.14 $38.14
PUMP WATER* 30 AC. IN.
CROP INSURANCE $0.95 $0.95 $0.95
SUBTOTAL $169.13 $169.13
POWER ACCOMPLISHMENT PURCHASED FUEL FIXED
PREHARVEST OPERATIONS UNIT RATE INPUTS LABOR & LUBE REPAIRS COST TOTAL
---------- ---------- -------------- ----------- --------- ----- ----- ------- ----- ------
DISC 185 HP 0.14 HR $1.06 $2.03 $0.77 $3.62 $7.48
PLOW 185 HP 0.48 HR $3.62 $6.97 $2.99 $13.68 $27.27
DISC 185 HP 0.14 HR $1.06 $2.03 $0.77 $3.62 $7.48
FERT SPREADER 126 HP 0.05 HR $0.38 $0.45 $0.09 $0.33 $1.25
SPRAY & DISC 185 HP 0.17 HR $1.28 $2.47 $1.27 $5.56 $10.58
PRE-IRRIGATE 0.10 HR $0.68 $6.98 $2.89 $4.82 $15.36
LISTER 126 HP 0.12 HR $0.91 $1.08 $0.42 $2.58 $4.98
ROD WEED 126 HP 0.08 HR $0.60 $0.72 $0.20 $1.36 $2.88
PLANTER 185 HP 0.17 HR $1.28 $2.47 $1.67 $8.89 $14.31
CULTIVATOR (2X) 126 HP 0.26 HR $1.96 $2.34 $0.92 $3.78 $9.00
IRRIGATE (12X) 1.20 HR $8.10 $83.74 $34.62 $57.90 $184.36
_________ ______ ______ ______ ______ _______
SUBTOTAL 2.91 HR $20.93 $111.29 $46.60 $106.13 $284.95
HARVEST OPERATIONS
------- ----------
COMBINE (CUSTOM) $24.50 $24.50
HAUL (CUSTOM) $12.60 $12.60
______ ______
SUBTOTAL $37.10 $37.10
OVERHEAD EXPENSES
-------- --------
DOWNTIME 0.20 HR $1.47 $1.47
EMPLOYEE BENEFITS $3.77 $3.77
INSURANCE $0.42 $0.42
LAND TAXES $0.63 $0.63
SUPERVISION AND MANAGEMENT $21.92 $21.92
OTHER EXPENSES $79.30 $79.30
_________ ______ ______ _______ _______
SUBTOTAL 0.20 HR $79.72 $27.16 $0.63 $107.51
--------- ------- ------ ------ ------ ------ -------
TOTAL OPERATING EXPENSES 3.11 HR $285.95 $48.09 $111.29 $46.60 $106.76 $598.69
NET OPERATING PROFIT ($301.59)
INTEREST ON OPERATING CAPITAL ( $127.13 @ 9.00%) $11.44
INTEREST ON EQUIPMENT INVESTMENT $39.56
RETURN TO LAND AND RISK ($352.59)
=====================================================================================================================
* Pump water costs are shown under irrigation in the preharvest operations section.
BUDGET SUMMARY
GROSS RETURN $297.10 VARIABLE OPERATING EXPENSES $443.84 RETURN OVER VARIABLE EXPENSES ($146.74) (GROSS MARGIN) FIXED EXPENSES $106.76 NET FARM INCOME ($253.50) (RETURN TO CAPITAL, LABOR, LAND & RISK) LABOR AND MANAGEMENT COST $48.09 NET OPERATING PROFIT ($301.59) (RETURN TO CAPITAL, LAND & RISK) CAPITAL COSTS $51.00 RETURN TO LAND AND RISK ($352.59) ===================================================================================================