TABLE 9. Whole farm summary, Union County, 2001.
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GROSS RETURNS
WHEAT 604 ACRES
CROP $144,900
GRAZING $22,641
ASCS DEFICIENCY $16,422
ASCS DIVERSION $0
CORN FOR GRAIN 179 ACRES
CROP $71,400
GRAZING $3,570
ASCS DEFICIENCY $9,282
ASCS DIVERSION $0
GRAIN SORGHUM 268 ACRES
CROP $36,146
GRAZING $1,339
ASCS DEFICIENCY $6,627
ASCS DIVERSION $0
HAYGRAZER/MILLET 190 ACRES
CROP $25,650
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GROSS RETURN $337,976
CASH OPERATING EXPENSES
SEED $12,838
FERTILIZER $62,655
CHEMICALS $25,109
CROP INSURANCE $150
OTHER PURCHASED INPUTS $633
CANAL WATER $0
FUEL, OIL & LUBRICANTS-EQUIPMENT $13,615
FUEL-IRRIGATION $46,633
REPAIRS $19,824
CUSTOM CHARGES $0
LAND TAXES $306
OTHER EXPENSES $28,385
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TOTAL CASH EXPENSES $210,149
RETURN OVER CASH EXPENSES $127,828
FIXED EXPENSES $54,241
TOTAL EXPENSES $264,389
NET FARM INCOME $73,587
LABOR AND MANAGEMENT COSTS $44,333
NET OPERATING PROFIT $29,254
CAPITAL COSTS
INTEREST ON OPERATING CAPITAL $6,347
INTEREST ON EQUIPMENT INVESTMENT $22,187
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TOTAL CAPITAL COSTS $28,534
RETURN TO LAND AND RISK $721
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RETURN RETURN ON
LAND VALUE TO RISK* INVESTMENT**
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$500 /ACRE ($24,879) 2.96%
$750 /ACRE ($37,679) 2.24%
$1,000 /ACRE ($50,479) 1.80%
$1,250 /ACRE ($63,279) 1.50%
$1,500 /ACRE ($76,079) 1.29%
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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