TABLE 13 - 8
                Crop Enterprise Analysis                            
Minnesota and North Dakota Farm Business Mgmt. Education            
                 Red River Valley, 2004                             
              (Farms Sorted By Net Return)                          

                Hay, Alfalfa on Cash Rent                           

                                         Avg. Of 
                                        All Farms

     Number of fields                           5
     Number of farms                            5

     Acres                                 177.44
     Yield per acre (ton)                    4.01
     Operators share of yield %            100.00
     Value per ton                          68.04
     Total product return per acre         272.55
     Miscellaneous income per acre             - 
     Gross return per acre                 272.55

     Direct Expenses
       Seed                                  0.97
       Fertilizer                            9.09
       Fuel & oil                           17.09
       Repairs                              20.43
       Land rent                            68.20
       Machinery & bldg leases               0.52
       Operating interest                    8.97
       Miscellaneous                         8.41
     Total direct expenses per acre        133.69
     Return over direct exp per acre       138.86

     Overhead Expenses
       Custom hire                           1.35
       Hired labor                           7.80
       Machinery & bldg leases               1.00
       Farm insurance                        2.58
       Utilities                             4.07
       Dues & professional fees              1.90
       Interest                              3.76
       Mach & bldg depreciation             19.28
       Miscellaneous                         3.91
     Total overhead expenses per acre       45.65
     Total dir & ovhd expenses per acre    179.34
     Net return per acre                    93.21

     Lbr & mgt charge per acre              34.83
     Net return over lbr & mgt              58.38
     Government payments                    17.10
     Net return with govt payments          75.48

     Cost of Production
     Total direct expense per ton           33.37
     Total dir & ovhd exp per ton           44.77
     With labor & management                53.47
     Total exp less govt & oth income       49.20

     Est. labor hours per acre               2.50