TABLE - 42
                     Crop Enterprise Analysis, 2003          
        North Dakota Farm Business Management Education Program 
                              State Report          
                      (Farms Sorted By Net Return)  

                        Hay, Mixed on Share Rent    

                                                   Avg. Of 
                                                  All Farms

            Number of fields                             19
            Number of farms                              15

            Acres                                     91.44
            Yield per acre (ton)                       1.39
            Operators share of yield %                60.23
            Value per ton                             40.48
            Total product return per acre             34.00
            Miscellaneous income per acre                - 
            Gross return per acre                     34.00

            Direct Expenses
              Fuel & oil                               4.47
              Repairs                                  6.34
              Custom hire                              1.54
              Operating interest                       1.58
              Miscellaneous                            0.16
            Total direct expenses per acre            14.09
            Return over direct exp per acre           19.91

            Overhead Expenses
              Hired labor                              0.97
              Farm insurance                           0.81
              Utilities                                0.85
              Dues & professional fees                 0.22
              Interest                                 2.49
              Mach & bldg depreciation                 3.86
              Miscellaneous                            1.89
            Total overhead expenses per acre          11.09
            Total dir & ovhd expenses per acre        25.18
            Net return per acre                        8.82

            Lbr & mgt charge per acre                  7.55
            Net return over lbr & mgt                  1.28
            Government payments                        2.34
            Net return with govt payments              3.62

            Cost of Production
            Total direct expense per ton              16.77
            Total dir & ovhd exp per ton              29.97
            With labor & management                   38.96
            Total exp less govt & oth income          36.17