TABLE 9. Whole farm summary, Valencia and Southern Bernalillo Counties, 20
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GROSS RETURNS
ALFALFA HAY 71 ACRES
CROP $44,375
GRAZING $710
SMALL GRAIN HAY 10 ACRES
CROP $2,750
SORGHUM HAY 10 ACRES
CROP $2,200
GRAZING $50
CORN FOR SILAGE 10 ACRES
CROP $3,200
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GROSS RETURN $53,285
CASH OPERATING EXPENSES
SEED $1,550
FERTILIZER $3,340
CHEMICALS $1,861
CROP INSURANCE $0
OTHER PURCHASED INPUTS $1,247
CANAL WATER $3,030
FUEL, OIL & LUBRICANTS-EQUIPMENT $1,172
FUEL-IRRIGATION $0
REPAIRS $514
CUSTOM CHARGES $2,510
LAND TAXES $444
OTHER EXPENSES $9,844
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TOTAL CASH EXPENSES $25,512
RETURN OVER CASH EXPENSES $27,773
FIXED EXPENSES $6,936
TOTAL EXPENSES $32,448
NET FARM INCOME $20,837
LABOR AND MANAGEMENT COSTS $7,955
NET OPERATING PROFIT $12,882
CAPITAL COSTS
INTEREST ON OPERATING CAPITAL $468
INTEREST ON EQUIPMENT INVESTMENT $3,654
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TOTAL CAPITAL COSTS $4,121
RETURN TO LAND AND RISK $8,761
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RETURN RETURN ON
LAND VALUE TO RISK* INVESTMENT**
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$5,000 /ACRE ($11,239) 2.39%
$6,500 /ACRE ($17,239) 1.87%
$8,000 /ACRE ($23,239) 1.54%
$9,500 /ACRE ($29,239) 1.30%
$11,000 /ACRE ($35,239) 1.13%
$12,500 /ACRE ($41,239) 1.00%
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* RETURN TO LAND AND RISK MINUS (INTEREST RATE TIMES LAND VALUE TIMES ACRE
** NET OPERATING PROFIT DIVIDED BY (MACHINERY AND EQUIPMENT VALUE PLUS LAND