TABLE - 45
                     Crop Enterprise Analysis, 2003          
        North Dakota Farm Business Management Education Program 
                              State Report          
                      (Farms Sorted By Net Return)  

                    Hay, Native Grass on Owned Land 

                                                   Avg. Of 
                                                  All Farms

            Number of fields                             27
            Number of farms                              18

            Acres                                    128.67
            Yield per acre (ton)                       1.00
            Operators share of yield %               100.00
            Value per ton                             30.78
            Other product return per acre              0.23
            Total product return per acre             31.02
            Miscellaneous income per acre                - 
            Gross return per acre                     31.02

            Direct Expenses
              Fuel & oil                               4.79
              Repairs                                  4.86
              Operating interest                       0.83
              Miscellaneous                            0.40
            Total direct expenses per acre            10.89
            Return over direct exp per acre           20.13

            Overhead Expenses
              Hired labor                              2.52
              Machinery & bldg leases                  1.15
              RE & pers. property taxes                1.67
              Farm insurance                           0.74
              Interest                                 3.81
              Mach & bldg depreciation                 5.47
              Miscellaneous                            1.26
            Total overhead expenses per acre          16.62
            Total dir & ovhd expenses per acre        27.50
            Net return per acre                        3.52

            Lbr & mgt charge per acre                  7.30
            Net return over lbr & mgt                 -3.78
            Government payments                          - 
            Net return with govt payments             -3.78

            Cost of Production
            Total direct expense per ton              10.88
            Total dir & ovhd exp per ton              27.50
            With labor & management                   34.79
            Total exp less govt & oth income          34.56