Red River Valley Reports For 1998

                                           

                                            TABLE 12 - 14                                 
                                   Crop Enterprise Analysis, 1998                         
                       Minnesota and North Dakota Farm Business Mgmt Education            
                                          Red River Valley                                
                                  (Average of all farms reporting)                        

                                   ALFALFA HAY ON CASH RENTED LAND                        


                                                                     Average For
                                                                      All Farms 
                                                                     ----------
                    Number of fields                                         13
                    Number of farms                                          13

                    Acres                                                106.55
                    Yield per acre (ton)                                   3.20
                    Operators share of yield %                           100.00
                    Value per ton                                         61.82
                    Total product return per acre                        197.63
                    Miscellaneous income per acre                          0.00
                    Gross return per acre                                197.63

                    Direct expenses per acre
                      Seed                                                 5.77
                      Fertilizer                                           5.56
                      Crop chemicals                                       1.19
                      Fuel & oil                                           6.14
                      Repairs                                             12.04
                      Custom hire                                          9.05
                      Land rent                                           66.06
                      Operating interest                                   6.47
                      Miscellaneous                                        5.18
                    Total direct expenses per acre                       117.47
                    Return over direct expenses per acre                  80.16

                    Overhead expenses per acre
                      Custom hire                                          0.62
                      Hired labor                                          7.53
                      Machinery & bldg leases                              3.53
                      Farm insurance                                       2.00
                      Utilities                                            2.23
                      Dues & professional fees                             1.42
                      Interest                                             4.38
                      Mach & bldg depreciation                            14.72
                      Miscellaneous                                        4.02
                    Total overhead expenses per acre                      40.46
                    Total listed expenses per acre                       157.93
                    Net return per acre                                   39.70

                    Total direct expense per ton                          36.75
                    Total listed expense per ton                          49.40
                    Net return per ton                                    12.42
                    Breakeven yield per acre                               2.55

                    Net return including govt. payments                   43.71
                    Lbr & mgt charge per acre                             15.17
                    Net return over lbr & mgt                             28.54

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