Estimated s and Returns - San Luis Valley PRODUCTION ASSUMPTIONS Exposed Females (Cows & Heifers) 300 Total Calves Weaned (head) 258 Cows Per Bull 25 Steers (head) 129 Cow Death Loss 3% Total Heifers (head) 129 Cow Replacement Rate 12% Bull Replacement Rate 25% Heifers Retained (head) 45 Weaned Calf Crop 86% Heifers Sold (head) 84 Percentage Steers 50% Yearling Heifers Sold (head) 0 Replacement Heifers Retained 15% Number of Bulls (head) 12 MANAGEMENT PRACTICES PRODUCTION SUMMARY 1. Calves born March-May and weaned and sold October/November. 2. Feeding Period = 5 Months (Dec, Jan, Feb, Mar, Apr) / Grazing Period = 7 months 3. 1200 AUMs (400 cows, 3 months, $4.58) of grazing on public lands GROSS REVENUES FROM PRODUCTION Avg. Mkt Net Sale Value Animal Weight Per Head Total Per Cow Type Head lbs $/Cwt $/Hd $ $ Steers 129 550 150.00 825.00 106,425 354.75 Heifers 84 500 138.00 690.00 57,960 193.20 Yearling Heifers 0 800 125.00 1,000.00 - - Cull Cows 36 1,100 60.00 660.00 23,760 79.20 Cull Bulls 3 1,600 78.00 1,248.00 3,744 12.48 Other - - Total 252 $191,889 $639.63 DIRECT CASH OPERATING EXPENSES Total Per Cow Purchased Feed and Pasture 84,239 280.80 Land 8,473 28.24 Livestock Medical and Breeding 4,440 14.80 Livestock Supplies 1,944 6.48 Marketing 5,694 18.98 Machinery and Equipment 0 0.00 Labor 0 0.00 Interest 3,930 13.10 Total Direct Cash Operating Expenses $108,719 $362.40 NET RECEIPTS Total Per Cow Gross Revenues 191,889 639.63 Total Direct Cash Operating Expenses 108,719 362.40 Non-Cash Expenses 12,000 40.00 Net Receipts $71,170 $237.23
Estimated s and Returns - San Luis Valley PURCHASED FEED Lbs Per Day Description Unit Per Cow Days Per Unit Per Cow Per Herd Alfalfa Hay tons 20.00 150 100.00 150.00 45,000 Grass Hay tons 0.00 0 90.00 0.00 0 Grain/Concentrates lbs 0.00 0 0.00 0.00 0 Protein Supplements tons 1.60 90 250.00 18.00 5,400 Salt/Mineral tons 1.10 365 75.00 15.06 4,517 Other Livestock Feed dollars 0.00 0 Subtotal of Livestock Feed 22.70 $ 183.06 $ 54,917 PASTURE Description Unit Quantity Days Per Unit Per Cow Per Herd Pasture (owned) head 400 210 2.00 84.00 25,200 Pasture (leased) head 0.00 0 Pasture (public) aums 13.74 4,122 Other head 0.00 0 Subtotal of Livestock Feed $ 97.74 $ 29,322 LAND EXPENSES Fert. & Chem. acre 150 9.00 4.50 1,350 Irrigation Supplies dollars 0.00 0 M&R Land and Bldgs. dollars 2,200 1.00 7.33 2,200 Insur. (Bld, Mach., Lvst.) dollars 4,923 1.00 16.41 4,923 Other dollars 0 1.00 0.00 0 Subtotal of Land $ 28.24 $ 8,473
Estimated s and Returns - San Luis Valley LIVESTOCK MEDICAL & BREEDING EXPENSES Calf Vaccines calves 300 7.50 7.50 2,250 Breeding Vaccines cows 300 3.60 3.60 1,080 Other Vaccines 0.00 0 Pregnancy Test cows 300 2.50 2.50 750 Bull Fertility Test bulls 12 30.00 1.20 360 Medical Supplies 0.00 0 Subtotal of Livestock Medical and Breeding $ 14.80 $ 4,440 LIVESTOCK SUPPLIES Feeding Supplies each 300 3.24 3.24 972 Tack 0.00 0 Ear Tags each 300 3.24 3.24 972 Subtotal of Livestock Supplies $ 6.48 $ 1,944 MARKETING Freight and Trucking miles 320 4.50 4.80 1,440 Selling Comm/Yardage dollars 191,889 2.00% 12.79 3,838 Brand Inspection head 252 1.35 1.13 340 Health Inspection head 252 0.30 0.25 76 Lodging/Meals Etc. 0.00 0 Hedging Expense 0.00 0 Subtotal of Marketing $ 18.98 $ 5,694
Estimated s and Returns - San Luis Valley Machinery & Equipment Description Per Cow Per Herd Fuel and Lubrication 0.00 0 Maint. and Repairs 0.00 0 Equipment Leases 0.00 0 Machine Hire 0.00 0 Subtotal of Machinery and Equipment $ - $ - LABOR Description Per Cow Per Herd Wages 0.00 0 FICA 8.00% 0.00 0 Employee Benefits 0.00 0 Contract Labor 0.00 0 Professional Fees 0.00 0 Workman's Comp 0.00 0 Subtotal of Labor $ - $ - INTEREST Term Description Principal (years) Rate Per Cow Per Herd Operating Borrowings 104,789 0.50 7.50% 13.10 3,930 Non-Real Estate 0.00 0 Real Estate 0.00 0 Other Interest 0.00 0 Subtotal of Interest $ 13.10 $ 3,930 NON-CASH EXPENSES Description Unit Quantity Per Cow Per Herd Depreciation - Bldg & Equip 31.67 9,500 Depreciation - Bulls 8.33 2,500 Depreciation - Subtotal of Labor $ 40.00 $ 12,000
Estimated s and Returns - San Luis Valley Per Cow Per Herd GROSS REVENUES FROM PRODUCTION $639.63 $191,889 TOTAL EXPENSES (cash and non-cash) $362.40 $108,719 NET RECEIPTS FROM PRODUCTION (PROFIT / LOSS) $277.23 $83,170 BREAK-EVEN PRICES FOR CALVES Weaning Weaning Annual Cow Carrying s Percent Weight 350 400 450 500 600 700 362 400 1.17 1.33 1.50 1.67 2.00 2.33 1.21 75% 500 0.93 1.07 1.20 1.33 1.60 1.87 0.97 600 0.78 0.89 1.00 1.11 1.33 1.56 0.81 400 1.09 1.25 1.41 1.56 1.88 2.19 1.13 80% 500 0.88 1.00 1.13 1.25 1.50 1.75 0.91 600 0.73 0.83 0.94 1.04 1.25 1.46 0.75 400 1.03 1.18 1.32 1.47 1.76 2.06 1.07 85% 500 0.82 0.94 1.06 1.18 1.41 1.65 0.85 600 0.69 0.78 0.88 0.98 1.18 1.37 0.71 400 0.97 1.11 1.25 1.39 1.67 1.94 1.01 90% 500 0.78 0.89 1.00 1.11 1.33 1.56 0.81 600 0.65 0.74 0.83 0.93 1.11 1.30 0.67 400 0.92 1.05 1.18 1.32 1.58 1.84 0.95 95% 500 0.74 0.84 0.95 1.05 1.26 1.47 0.76 600 0.61 0.70 0.79 0.88 1.05 1.23 0.64 Calculation: Annual Cow s divided by Weaning Weight divided by Weaning Percent (as a decimal).