TABLE 12 - 2
                          Livestock Enterprise Analysis, 2001                           
                 North Dakota Farm Business Management Education Program                    
                                      State Report                                         
                          (Farms Sorted By Net Return Per Unit)                             
                        Beef Cow-Calf -- Average Per Cwt. Produced                           
                                     Avg. Of                                               
                                    All Farms           Low 20%             High 20%      
Number of farms                       146                  29                  29         
                              Quantity     Value  Quantity     Value  Quantity     Value
Beef Calves sold (lb)            30.67     27.48     16.86     14.80     32.57     29.92
Transferred out (lb)             68.90     61.39     84.79     74.87     65.96     57.98
Cull sales (lb)                            14.76               17.27               17.92
Butchered (lb)                              0.19                0.35                0.09
Less purchased (lb)                       -14.47              -15.06               -9.49
Less transferred in (lb)                   -9.74              -19.98               -5.58
Inventory change (lb)                       3.53                5.06               -2.59
Total production (lb)                      83.15               77.30               88.25
Other income                                0.26                0.35                0.50
Gross return                               83.41               77.65               88.75
Direct Expenses
  Corn Silage (lb.)             243.07      2.02    110.01      1.09    200.26      1.56
  Hay, Alfalfa (lb.)            133.01      2.79    197.47      4.41     43.98      0.99
  Hay, Grass & Other (lb.)    1,031.06     16.59  1,368.23     20.94    902.30     14.67
  Pasture (aum)                   1.21     13.85      1.30     16.33      1.19     13.39
  Protein Vit Minerals (lb.)     15.39      1.97     27.13      2.89     14.06      2.05
  Other feed stuffs              99.79      2.95    147.41      2.16     56.25      2.41
  Veterinary                                2.50                3.32                1.98
  Livestock supplies                        1.83                2.23                1.36
  Fuel & oil                                2.11                2.86                1.89
  Repairs                                   3.66                6.92                2.53
  Custom hire                               0.51                0.32                0.39
  Livestock leases                          1.74                3.45                0.51
  Operating interest                        1.43                2.45                0.97
Total direct expenses                      53.94               69.36               44.69
Return over direct expense                 29.47                8.29               44.06
Overhead Expenses
  Hired labor                               1.75                4.75                1.10
  Farm insurance                            1.11                1.32                0.96
  Utilities                                 1.50                1.95                1.05
  Interest                                  2.89                3.65                2.00
  Mach & bldg depreciation                  2.44                3.92                1.66
  Miscellaneous                             1.87                1.78                1.36
Total overhead expenses                    11.57               17.37                8.13
Total dir & ovhd expenses                  65.51               86.74               52.82
Net return                                 17.90               -9.08               35.94
Other Information
Number of cows                             143.9               128.3               177.2
Pregnancy percentage                        98.0                98.7                97.2
Pregnancy loss percentage                    2.4                 6.9                 2.1
Culling percentage                          13.5                13.0                15.9
Calving percentage                          95.6                91.9                95.2
Weaning percentage                          90.3                85.4                91.2
Calves sold per cow                         0.94                0.91                0.95
Calf death loss percent                      5.6                 7.7                 3.9
Average weaning weight                       553                 513                 577
Lbs weaned/exposed female                    499                 438                 526
Feed cost per cow                         209.06              221.10              196.21
Avg wgt/Beef Calf sold                       586                 493                 616
Avg price / cwt                            89.61               87.77               91.85