TABLE - 43
                     Crop Enterprise Analysis, 2003          
        North Dakota Farm Business Management Education Program 
                              State Report          
                      (Farms Sorted By Net Return)  

                 Hay, Mixed Alfalfa/Grass on Owned Land         

                                                   Avg. Of 
                                                  All Farms

            Number of fields                             45
            Number of farms                              20

            Acres                                     49.85
            Yield per acre (ton)                       1.15
            Operators share of yield %               100.00
            Value per ton                             37.70
            Total product return per acre             43.28
            Miscellaneous income per acre                - 
            Gross return per acre                     43.28

            Direct Expenses
              Fuel & oil                               7.39
              Repairs                                  7.39
              Operating interest                       1.22
              Miscellaneous                            0.78
            Total direct expenses per acre            16.78
            Return over direct exp per acre           26.50

            Overhead Expenses
              Hired labor                              0.66
              Machinery & bldg leases                  0.33
              RE & pers. property taxes                3.44
              Farm insurance                           1.74
              Utilities                                1.19
              Interest                                12.08
              Mach & bldg depreciation                 6.42
              Miscellaneous                            3.24
            Total overhead expenses per acre          29.09
            Total dir & ovhd expenses per acre        45.87
            Net return per acre                       -2.59

            Lbr & mgt charge per acre                 10.03
            Net return over lbr & mgt                -12.62
            Government payments                        6.51
            Net return with govt payments             -6.11

            Cost of Production
            Total direct expense per ton              14.62
            Total dir & ovhd exp per ton              39.96
            With labor & management                   48.69
            Total exp less govt & oth income          43.02