TABLE - 44
                     Crop Enterprise Analysis, 2003          
        North Dakota Farm Business Management Education Program 
                              State Report          
                      (Farms Sorted By Net Return)  

                  Hay, Mixed Alfalfa/Grass on Cash Rent         

                                                   Avg. Of 
                                                  All Farms 
          

            Number of fields                             33 
            Number of farms                              21 
          

            Acres                                     58.88 
            Yield per acre (ton)                       1.19 
            Operators share of yield %               100.00 
            Value per ton                             37.05 
            Total product return per acre             43.94 
            Miscellaneous income per acre                -  
            Gross return per acre                     43.94 
          

            Direct Expenses          
              Fertilizer                               0.26 
              Fuel & oil                               5.74 
              Repairs                                  7.33 
              Land rent                               15.45 
              Operating interest                       1.20 
              Miscellaneous                            0.51 
            Total direct expenses per acre            30.48 
            Return over direct exp per acre           13.46 
          

            Overhead Expenses          
              Hired labor                              1.65 
              Machinery & bldg leases                  0.57 
              Farm insurance                           1.94 
              Utilities                                1.33 
              Dues & professional fees                 0.42 
              Interest                                 2.58 
              Mach & bldg depreciation                 7.13 
              Miscellaneous                            2.52 
            Total overhead expenses per acre          18.14 
            Total dir & ovhd expenses per acre        48.62 
            Net return per acre                       -4.68 
          

            Lbr & mgt charge per acre                 10.18 
            Net return over lbr & mgt                -14.86 
            Government payments                        6.04 
            Net return with govt payments             -8.82 
          

            Cost of Production          
            Total direct expense per ton              25.70 
            Total dir & ovhd exp per ton              40.99 
            With labor & management                   49.57 
            Total exp less govt & oth income          44.48