TABLE 8. Whole farm summary, Union County, 2001.
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GROSS RETURNS
ALFALFA HAY 40 ACRES
CROP $19,200
GRAZING $600
NATIVE GRASS HAY 40 ACRES
CROP $6,600
GRAZING $520
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GROSS RETURN $26,920
CASH OPERATING EXPENSES
SEED $212
FERTILIZER $0
CHEMICALS $0
CROP INSURANCE $0
OTHER PURCHASED INPUTS $679
CANAL WATER $400
FUEL, OIL & LUBRICANTS-EQUIPMENT $2,870
FUEL-IRRIGATION $337
REPAIRS $2,278
CUSTOM CHARGES $0
LAND TAXES $20
OTHER EXPENSES $9,639
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TOTAL CASH EXPENSES $16,435
RETURN OVER CASH EXPENSES $10,485
FIXED EXPENSES $4,699
TOTAL EXPENSES $21,134
NET FARM INCOME $5,786
LABOR AND MANAGEMENT COSTS $8,996
NET OPERATING PROFIT ($3,210)
CAPITAL COSTS
INTEREST ON OPERATING CAPITAL $95
INTEREST ON EQUIPMENT INVESTMENT $1,023
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TOTAL CAPITAL COSTS $1,118
RETURN TO LAND AND RISK ($4,328)
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RETURN RETURN ON
LAND VALUE TO RISK* INVESTMENT**
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$200 /ACRE ($4,968) -7.31%
$350 /ACRE ($5,448) -5.74%
$500 /ACRE ($5,928) -4.73%
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* RETURN TO LAND AND RISK MINUS (INTEREST RATE TIMES LAND VALUE TIMES A
** NET OPERATING PROFIT DIVIDED BY (MACHINERY AND EQUIPMENT VALUE PLUS L