TABLE 6. Whole farm summary, Union County, 2001.
------------------------------------------------------------------------
GROSS RETURNS
WHEAT 229 ACRES
CROP $24,045
GRAZING $4,580
ASCS DEFICIENCY $2,190
ASCS DIVERSION $0
GRAIN SORGHUM 391 ACRES
CROP $17,595
ASCS DEFICIENCY $3,226
ASCS DIVERSION $0
_________
GROSS RETURN $51,635
CASH OPERATING EXPENSES
SEED $1,976
FERTILIZER $8,468
CHEMICALS $5,963
CROP INSURANCE $0
OTHER PURCHASED INPUTS $0
CANAL WATER $0
FUEL, OIL & LUBRICANTS-EQUIPMENT $4,010
FUEL-IRRIGATION $0
REPAIRS $2,218
CUSTOM CHARGES $14,076
LAND TAXES $52
OTHER EXPENSES $14,881
_________
TOTAL CASH EXPENSES $51,643
RETURN OVER CASH EXPENSES ($8)
FIXED EXPENSES $5,116
TOTAL EXPENSES $56,760
NET FARM INCOME ($5,124)
LABOR AND MANAGEMENT COSTS $7,302
NET OPERATING PROFIT ($12,426)
CAPITAL COSTS
INTEREST ON OPERATING CAPITAL $984
INTEREST ON EQUIPMENT INVESTMENT $3,007
_________
TOTAL CAPITAL COSTS $3,991
RETURN TO LAND AND RISK ($16,417)
=========
========================================================================
-------------------------------------------------------
RETURN RETURN ON
LAND VALUE TO RISK* INVESTMENT**
-------------------------------------------------------
$100 /ACRE ($18,977) -11.96%
$200 /ACRE ($21,537) -7.40%
$300 /ACRE ($24,097) -5.36%
-------------------------------------------------------
* RETURN TO LAND AND RISK MINUS (INTEREST RATE TIMES LAND VALUE TIMES A
** NET OPERATING PROFIT DIVIDED BY (MACHINERY AND EQUIPMENT VALUE PLUS L