BUDGET AREA.. DRY CIMARRON AREA, UNION COUNTProjected 2018 FARM SIZE ACRES IRRIGATION TYPE FLOOD NUMBER OF CROPS 2 VERSION 1.

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1 MICROCOMPUTER CROP AND RETURN GENERATOR BUDGET AREA.. DRY CIMARRON AREA, UNION COUNT FARM SIZE ACRES IRRIGATION TYPE FLOOD NUMBER OF CROPS 2 VERSION 1.0 COPYRIGHT (C) 1984 by NEW MEXICO STATE UNIVERSITY BOARD OF REGENTS New Mexico State University is an equal opportunity employer. All programs are available to everyone regardless of race, color, religion, sex, age, handicap, or national origin. New Mexico State University and the U.S. Department of Agriculture Cooperating. * YOU MAY ENTER DATA IN ANY INPUT TABLE WITH HIGHLIGHTEDHIGHLIGHTEDCELLS OR YOU MAY STRIKE [ENTER] AND RETURN TO THE MENU ** BE SURE PRINTER IS ON AND PAPER IS ALIGNED BEFORE YOU PRINT

2 TABLE 1. Acreage Summary, Union County, BUDGET AREA DRY CIMARRON AREA, UNION COUNTY FARM SIZE. 80 ACRES IRRIGATION TYPE FLOOD NUMBER OF CROPS 2 WATER USE LAND USE AC.IN. ACREAGE SUMMARY: (ACRES) PER AC. AC.IN. ALFALFA ESTABLISHMENT ALFALFA NATIVE GRASS ,698 ACRE FEET PER ACRE OF WATER RIGHTS 1.68 TABLE 2. Basic cost information for Dry Cimarron area, Union County, Item Labor Wage Rate: Equipment operators $/hour $8.55 General & Irrigators $/hour $7.50 Purchased Inputs: Seed: Alfalfa $/pound $4.00 Natural gas $/MCF $4.00 Diesel fuel $/gallon $2.70 Gasoline $/gallon $2.40 Electricity cents/kwhr 7.94 LP Gas $/gallon $2.85 Baling Wire $/pound $1.32 Employee Liability Insurance $/$1,000 wages $20.00 Employee Benefits percent/wages 18.00% Labor Downtime percent 25.00% Financial Rates: Operating Capital Interest Rate percent 5.50% Land Interest Rate percent 5.00% Equipment Interest Rate percent 5.50% Real Interest Rate percent 3.00% Land Taxes $27.00 /acre (full value) Personal Property Tax Rate -NR $/$1,000 (Assessed $ R Value) $19.20 Supervision Factors Field Crop-Irrigation $/labor hour $1.00 Field Crop-Equipment & General $/labor hour $0.50 Management Rate percent 7.00% TABLE 3. Overhead cost information for the Dry Cimarron area, Item Electricity (Domestic & Shop) $ per month $1,524 Telephone $ per month $1,219 Accounting & Legal $572 Misc. Supplies & Hand Tools $940 Pickup and Auto miles $0.500 per mile $6,541 Insurance - general liability (non-employee) $1,219 - fire/theft $794 Property Taxes - other than land & machinery $6,010 Building repairs and maintenance $603 Dues, fees, publications $305 Farmstead Equipment $95 Total $19,821 Total per planted acre $247.77

3 TABLE 4. Pumping costs and data for irrigation wells, Dry Cimarron area, Union County, INPUT DATA DEPTH CHARACTERISTICS: STATIC.. 50 DRAW DOWN HEAD CASING. 75 GALLONS PER MINUTE (GPM) 900 WORK HORSEPOWER 15 EFFICIENCY FACTOR: ELECTRICITY NATURAL GAS LP GAS DIESEL FUEL PER UNIT: ELECTRICITY 7.94 CENTS/KwHr NATURAL GAS $4.00 $/MCF LP GAS $2.85 $/GAL DIESEL $2.70 $/GAL FUEL PUMPING S ELECTRIC WELL: PER HOUR $1.65 PER ACRE INCH $0.83 NATURAL GAS WELL: PER HOUR $1.10 PER ACRE INCH $0.55 LP GAS WELL: PER HOUR $7.60 PER ACRE INCH $3.82 DIESEL WELL: PER HOUR $4.50 PER ACRE INCH $2.26 TABLE 5. Equipment summary for an 80 acre part-time flood-irrigated farm, Dry Cimarron area, Union County, EQUIPMENT VARIABLE S S ANNUAL ITEM & SIZE FUEL, OIL, FUEL, OIL REPAIR HOURS OF NUMBER REPAIR DEPRECIATION TAXES VALUE LUBRICANT PER HR PER HR PER HR USE TRACTOR $7,000 $1,439 $154 $10.10 $1.08 $360 $67 $2.99 MOWER 74 1 $1,300 $27 $0.36 $130 $10 $1.89 BALER 2 WIRE 42 1 $1,600 $6 $0.15 $385 $29 $9.85 RAKE 24 1 $1,550 $10 $0.43 $155 $12 $6.94 CHISEL (BORROWED) 7 PT 1 1 $0 $0 $0.00 $0 $0 $0.00 DISC (BORROWED) 12 FT 1 1 $0 $0 $0.00 $0 $0 $0.00 DRILL (BORROWED) 10 FT 1 1 $0 $0 $0.00 $0 $0 $0.00 TRUCK 2.5 TON $13,500 $4,185 $2,028 $17.15 $8.31 $2,700 $101 $11.48 BALE LOADER $2,550 $166 $0.68 $255 $19 $1.12 ELECTRIC WELL $11,500 $465 $0 $1.65 $0.00 $920 $86 $3.57 $39,000 $6,089 $2,391 $4,905 $322 EQUIPMENT LIST NEW USED YEARS EQUIP MAX FUEL LUBE ACCUM INTEREST VALUE VALUE LIFE CODE HOURS UNIT/HR COEF HOURS EXPENSE ITEM AGE TRACTOR MOWER BALER 2 WIRE RAKE CHISEL (BORROWED) 7 PT DISC (BORROWED) 12 FT DRILL (BORROWED) 10 FT TRUCK 2.5 TON BALE LOADER ELECTRIC WELL USAGE LIST NATIVE GRASS ALFALFA ALFALFA PER ACRE EST. HAY HAY S hours per acre INTEREST PRORATION ALFALFA HAY NATIVE GRASS HAY -dollars per acre ALFALFA ESTABLISHMENT ACRES: 4 PUMP WATER: POWER TIMES MACHINE UNIT OVER RATE CUSTOM CHISEL DISC DRILL DITCH MAINTENANCE 0.5 IRRIGATE (1X) ALFALFA HAY ACRES: 40 PUMP WATER: POWER TIMES MACHINE UNIT OVER RATE CUSTOM DITCH MAINTENANCE 0.5 IRRIGATE (8X) MOWER (3X) RAKE (3X) BALER (3X) HAUL (3X) 1 TON TRUC NATIVE GRASS HAY ACRES: 40 PUMP WATER: POWER TIMES MACHINE UNIT OVER RATE CUSTOM DITCH MAINTENANCE 0.5 IRRIGATE (5X) MOWER (2X) RAKE (2X) BALER, 1-TON (2X) HAUL (2X) 1 TN TRCK ANNUAL REPAIR S AS A PERCENT OF NEW VALUE Hours of Use * * * * ** ** ** ** ** * Based on unpublished data of D. R. Hunt, Department of Agricultural Engineering, University of Illinois. ** Based on "Agricultural Machinery Data" in Agricultural Engineers Yearbook, Codes tractors 2 balers, combines, forage harvesters, windrowers, pickups 3 rotary hoe, disks, moldboard plows, chisels, field cultivators row cultivators, laser plane 4 harrows, wagons, floats, roto buck, drag, roller, water furrow, bed shaper 5 balewagons, cotton pickers, cotton strippers, corn pickers corn heads, forage equipment, rotary mowers, stalk choppers, feed wagons, farm trucks 6 rakes, cutterbar mower 7 baler w/ engine, manure spreader 8 planters, drills, seeding equipment, mounted sprayers 9 fertilizer distributing equipment

4 TABLE 6. Alfalfa establishment, flood-irrigated, budgeted per acre costs and returns for an 80 acre part-time farm, Dry Cimarron area, Union County, Planting dates: August 15 - September 15 ITEM PRICE QUANTITY SEED $ LBS 5 AC. IN. $72.00 $72.00 SUB $72.00 $72.00 PREHARVEST OPERATIONS POWER UNIT RATE LABOR FUEL & LUBE CHISEL DISC DRILL DITCH MAINTENANCE IRRIGATE (1X) 0.20 HR 0.17 HR 0.25 HR 0.50 HR 0.75 HR $1.71 $1.45 $2.14 $5.63 $2.02 $1.72 $2.52 $0.22 $0.18 $0.27 $0.60 $0.51 $0.75 $4.54 $3.86 $5.68 $5.63 SUB 1.87 HR $15.20 $6.26 $0.67 $1.86 $23.99 OVERHEAD EXPENSES DOWNTIME EMPLOYEE BENEFITS INSURANCE SUPERVISION AND MANAGEMENT 0.16 HR $0.30 $1.33 $2.74 $7.78 $1.33 $2.74 $0.30 $7.78 SUB 0.16 HR $0.30 $11.84 $12.14 OPERATING EXPENSES 2.03 HR $72.30 $27.04 $6.26 $0.67 $1.86 $108.13

5 TABLE 7. Alfalfa hay, flood-irrigated, budgeted per acre costs and returns for an 80 acre part-time farm, Dry Cimarron area, Union County, Harvesting dates: May 15 - September 15 ITEM GROSS RETURNS ALFALFFA HAY GRAZING PRICE $ $15.00 YIELD 6.20 TONS (STACKED) 1.00 ACRE $1, $15.00 $1, PRICE QUANTITY LIVESTOCK FAC & EQUIP ESTABLISHMENT: Principal : Interest BALING WIRE PUMP WATER* $ YEARS LBS AC. IN AC. IN. $70.14 $4.00 $10.81 $3.47 $4.00 $10.81 $3.47 $70.14 SUB $75.14 $18.28 $93.42 PREHARVEST OPERATIONS POWER UNIT RATE LABOR FUEL & LUBE DITCH MAINTENANCE IRRIGATE (8X) 0.50 HR 4.00 HR $30.00 $6.64 $0.00 $14.37 $51.01 SUB 4.50 HR $34.28 $6.64 $0.00 $14.37 $55.28 HARVEST OPERATIONS MOWER (3X) RAKE (3X) BALER (3X) HAUL (3X) 1 TON TRUCK 1.11 HR 0.36 HR 0.63 HR 4.50 HR $9.49 $3.08 $5.39 $38.48 $11.21 $3.64 $6.36 $77.18 $1.60 $0.54 $0.78 $37.46 $5.42 $3.58 $8.09 $56.70 $27.72 $10.83 $20.62 $ SUB 6.60 HR $56.43 $98.39 $40.38 $73.79 $ OVERHEAD EXPENSES DOWNTIME EMPLOYEE BENEFITS INSURANCE LAND TAXES SUPERVISION AND MANAGEMENT OTHER EXPENSES 1.65 HR $1.81 $ $14.11 $16.33 $88.64 $14.11 $16.33 $1.81 $88.64 $ SUB 1.65 HR $ $ $ OPERATING EXPENSES HR $ $ $ $40.38 $ $ NET OPERATING PROFIT $ INTEREST ON OPERATING CAPITAL INTEREST ON EQUIPMENT INVESTMENT ( 5.50% ) $2.79 $2.15 RETURN TO LAND AND RISK $ * Pump water costs are shown under irrigation in the preharvest operations section. BUDGET SUMMARY GROSS RETURN $1, VARIABLE OPERATING EXPENSES $ RETURN OVER VARIABLE EXPENSES $ (GROSS MARGIN) EXPENSES $ NET FARM INCOME $ (RETURN TO CAPITAL, LABOR, LAND & RISK) LABOR AND MANAGEMENT $ NET OPERATING PROFIT $ (RETURN TO CAPITAL, LAND & RISK) CAPITAL S $4.94 RETURN TO LAND AND RISK $370.51

6 TABLE 8. Native grass hay, flood-irrigated, budgeted per acre costs and returns for an 80 acre part-time farm, Dry Cimarron area, Union County, Harvesting dates: July 20 - September 15 GROSS RETURNS HAY GRAZING ITEM PRICE YIELD $ $ TONS (STACKED) 1.00 ACRE $ $13.00 $ PRICE QUANTITY LIVESTOCK FAC & EQUIP BALING WIRE PUMP WATER* $ LBS 12 AC. IN. 6 AC. IN. $16.97 $4.00 $4.00 $16.97 SUB $21.97 $4.00 $25.97 PREHARVEST OPERATIONS POWER UNIT RATE LABOR FUEL & LUBE DITCH MAINTENANCE IRRIGATE (5X) 0.50 HR 2.50 HR $21.38 $4.98 $0.00 $10.77 $37.13 SUB 3.00 HR $25.65 $4.98 $0.00 $10.77 $41.41 HARVEST OPERATIONS MOWER (2X) RAKE (2X) BALER, 1-TON (2X) HAUL (2X) TRUCK 0.74 HR 0.24 HR 0.42 HR 1.60 HR $6.33 $2.05 $3.59 $13.68 $7.47 $2.42 $4.24 $27.44 $1.07 $0.36 $0.52 $13.32 $3.61 $2.38 $5.39 $20.16 $18.48 $7.22 $13.74 $74.60 SUB 3.00 HR $0.00 $25.65 $41.58 $15.27 $31.55 $ OVERHEAD EXPENSES DOWNTIME EMPLOYEE BENEFITS INSURANCE LAND TAXES SUPERVISION AND MANAGEMENT OTHER EXPENSES 0.75 HR $1.03 $ $6.41 $9.23 $20.79 $6.41 $9.23 $1.03 $20.79 $ SUB 0.75 HR $ $36.43 $ OPERATING EXPENSES 3.75 HR $ $87.73 $46.56 $15.27 $46.53 $ NET OPERATING PROFIT ($191.35) INTEREST ON OPERATING CAPITAL INTEREST ON EQUIPMENT INVESTMENT ( 5.50% ) $0.93 $21.11 RETURN TO LAND AND RISK ($213.39) * Pump water costs are shown under irrigation in the preharvest operations section. BUDGET SUMMARY GROSS RETURN $ VARIABLE OPERATING EXPENSES $ RETURN OVER VARIABLE EXPENSES ($57.09) (GROSS MARGIN) EXPENSES $46.53 NET FARM INCOME ($103.62) (RETURN TO CAPITAL, LABOR, LAND & RISK) LABOR AND MANAGEMENT $87.73 NET OPERATING PROFIT ($191.35) (RETURN TO CAPITAL, LAND & RISK) CAPITAL S $22.04 RETURN TO LAND AND RISK ($213.39)

7 TABLE 9. Summary of per acre costs and returns for an 80 acre part-time farm, Dry Cimarron area, Union County, ALFALFA ALFALFA NATIVE ESTABLISHMENT HAY GRASS HAY PRIMARY YIELD PRIMARY PRICE GOVERNMENT PAYMENTS SECOND INCOME TONS 6.20 $ $0.00 $15.00 TONS 1.50 $ $0.00 $13.00 GROSS RETURN $1, $ CASH OPERATING EXPENSES SEED FERTILIZER CHEMICALS CROP INSURANCE OTHER FUEL, OIL & LUBRICANTS-EQUIPMENT FUEL-IRRIGATION CUSTOM CHARGES LAND TAXES OTHER EXPENSES $72.00 $6.26 $0.67 $0.30 $70.14 $98.39 $6.64 $40.38 $ $16.97 $41.58 $4.98 $15.27 $ CASH EXPENSES $79.23 $ $ RETURN OVER CASH EXPENSES ($79.23) $ ($57.29) EXPENSES $1.86 $ $46.33 EXPENSES $81.09 $ $ NET FARM INCOME ($81.09) $ ($103.62) LABOR AND MANAGEMENT S $27.04 $ $87.73 NET OPERATING PROFIT ($108.13) $ ($191.35) CAPITAL S INTEREST ON OPERATING CAPITAL INTEREST ON EQUIPMENT INVESTMENT $2.79 $2.15 $0.93 $21.11 CAPITAL S $0.00 $4.94 $22.04 RETURN TO LAND AND RISK ($108.13) $ ($213.39)

8 TABLE 10. Whole farm summary, Union County, GROSS RETURNS ALFALFA HAY CROP GRAZING NATIVE GRASS HAY CROP GRAZING 40 ACRES 40 ACRES $45,880 $600 $10,500 $520 GROSS RETURN $57,500 CASH OPERATING EXPENSES SEED FERTILIZER CHEMICALS CROP INSURANCE OTHER FUEL, OIL & LUBRICANTS-EQUIPMENT FUEL-IRRIGATION CUSTOM CHARGES LAND TAXES OTHER EXPENSES $288 $0 $0 $0 $3,484 $400 $5,624 $465 $2,229 $0 $16 $19,936 CASH EXPENSES $32,442 RETURN OVER CASH EXPENSES $25,058 EXPENSES $5,685 EXPENSES $38,127 NET FARM INCOME $19,373 LABOR AND MANAGEMENT S $12,009 NET OPERATING PROFIT $7,364 CAPITAL S INTEREST ON OPERATING CAPITAL INTEREST ON EQUIPMENT INVESTMENT $149 $930 CAPITAL S $1,079 RETURN TO LAND AND RISK $6,285 RETURN RETURN ON LAND VALUE TO RISK* INVESTMENT** $200 /ACRE $5, % $350 /ACRE $5, % $500 /ACRE $5, % * RETURN TO LAND AND RISK MINUS (INTEREST RATE TIMES LAND VALUE TIMES ACREAGE) ** NET OPERATING PROFIT DIVIDED BY (MACHINERY AND EQUIPMENT VALUE PLUS LAND VALUE)