TABLE 3. Alfalfa establishment, flood-irrigated, budgeted per acre costs and returns for a 100 acre farm with above
         average management, Valencia and Southern Bernalillo Counties, 2001.
              Planting dates: August 15 - September 15
-------------------------------------------------------------------------------------------------------------------------------
       ITEM                    PRICE              QUANTITY      PURCHASED INPUTS                                          TOTAL
_______________________________________________________________________________________________________________________________
 
PURCHASED INPUTS
--------- ------
    SEED                      $2.95                    20  LBS             $59.00                                       $59.00
    PHOSPHATE (P2O5)          $0.39                    90  LBS             $35.10                                       $35.10
    NITROGEN (N)              $0.42                    35  LBS             $14.70                                       $14.70
    CANAL WATER                                        12  AC. IN.
                                                                            ______                                       ______
         SUBTOTAL                                                         $108.80                                      $108.80
 
 
                            POWER              ACCOMPLISHMENT            PURCHASED              FUEL             FIXED
PREHARVEST OPERATIONS        UNIT                   RATE                    INPUTS    LABOR   & LUBE  REPAIRS     COST    TOTAL
---------------------      ------              ---------------        ------------   -----    -----   -------   -----   ------
    DISC                   96 HP                     0.17  HR                        $0.88    $1.60    $0.41    $5.98    $8.86
    PLOW                   96 HP                     0.67  HR                        $3.45    $6.29    $2.06   $21.41   $33.21
    DISC                   96 HP                     0.17  HR                        $0.88    $1.60    $0.41    $5.98    $8.86
    LASER PLANE (CUSTOM)                                                   $70.71                                       $70.71
    BORDER DISC            50 HP                     0.05  HR                        $0.26    $0.33    $0.15    $5.65    $6.39
    DRILL                  50 HP                     0.25  HR                        $1.29    $1.64    $0.84   $15.64   $19.40
    IRRIGATE (2X)                                    1.00  HR                        $5.15                               $5.15
                                               ---------------        ------------  ______   ______   ______   ______  _______
         SUBTOTAL                                    2.31  HR              $70.71   $11.90   $11.45    $3.86   $54.67  $152.59
 
OVERHEAD EXPENSES
-------- --------
    DOWNTIME                                         0.33  HR                        $1.69                               $1.69
    EMPLOYEE BENEFITS                                                                $2.14                               $2.14
    INSURANCE                                                               $0.24                                        $0.24
    SUPERVISION AND MANAGEMENT                                                      $19.95                              $19.95
                                               ---------------        ------------  ______                              ______
         SUBTOTAL                                    0.33  HR               $0.24   $23.78                              $24.02
                                               ---------------        ------------  ______   ______   ______   ______  _______
TOTAL OPERATING EXPENSES                             2.64  HR             $179.75   $35.68   $11.45    $3.86   $54.67  $285.40
===============================================================================================================================