TABLE 11. Whole farm summary, Union County, 2001.
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GROSS RETURNS
ALFALFA HAY 375 ACRES
CROP $292,500
WHEAT 420 ACRES
CROP $100,800
GRAZING $16,800
ASCS DEFICIENCY $11,730
ASCS DIVERSION $0
CORN FOR GRAIN 128 ACRES
CROP $51,000
GRAZING $2,550
ASCS DEFICIENCY $6,630
ASCS DIVERSION $0
GRAIN SORGHUM 127.5 ACRES
CROP $17,213
GRAZING $638
ASCS DEFICIENCY $3,156
ASCS DIVERSION $0
HAYGRAZER/MILLET 190 ACRES
CROP $25,650
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GROSS RETURN $528,666
CASH OPERATING EXPENSES
SEED $12,411
FERTILIZER $68,723
CHEMICALS $13,027
CROP INSURANCE $150
OTHER PURCHASED INPUTS $5,946
CANAL WATER $0
FUEL, OIL & LUBRICANTS-EQUIPMENT $12,864
FUEL-IRRIGATION $70,185
REPAIRS $27,715
CUSTOM CHARGES $0
LAND TAXES $306
OTHER EXPENSES $37,389
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TOTAL CASH EXPENSES $248,717
RETURN OVER CASH EXPENSES $279,949
FIXED EXPENSES $61,993
TOTAL EXPENSES $310,710
NET FARM INCOME $217,956
LABOR AND MANAGEMENT COSTS $61,034
NET OPERATING PROFIT $156,922
CAPITAL COSTS
INTEREST ON OPERATING CAPITAL $6,624
INTEREST ON EQUIPMENT INVESTMENT $21,989
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TOTAL CAPITAL COSTS $28,612
RETURN TO LAND AND RISK $128,310
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RETURN RETURN ON
LAND VALUE TO RISK* INVESTMENT**
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$500 /ACRE $102,710 15.10%
$750 /ACRE $89,910 11.54%
$1,000 /ACRE $77,110 9.34%
$1,250 /ACRE $64,310 7.85%
$1,500 /ACRE $51,510 6.77%
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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