TABLE 4. Alfalfa hay, flood-irrigated, budgeted per acre costs and return
         San Juan County, 2001.
              Harvesting dates: June 1 - October 15
------------------------------------------------------------------------
         ITEM                  PRICE             YIELD
------------------------------------------------------------------------
GROSS RETURNS
    ALFALFA HAY             $120.00              5.00  TONS (STACKED)
    GRAZING                  $10.00              2.00  AUM
 
         TOTAL
------------------------------------------------------------------------
                                                               PURCHASED
PURCHASED INPUTS               PRICE             QUANTITY        INPUTS
--------- ------              ------            -----------      ------
    PHOSPHATE (P2O5)          $0.39                45  LBS       $17.55
    INSECTICIDE (AERIAL)     $15.77                 1  ACRE      $15.77
    WIRE                      $0.36                43  LBS       $15.43
    ESTABLISHMENT: Principal                        6  YEARS
                 : Interest
    LIVESTOCK FAC & EQUIP
    CANAL WATER                                    60  AC. IN.
    CANAL WATER (MAINTENANCE)                       1  ACRE
                                                                 ______
         SUBTOTAL                                                $48.75