TABLE 12 - 4
           Livestock Enterprise Analysis, 2004
North Dakota Farm Business Management Education Program 
                      State Report
          (Farms Sorted By Net Return Per Unit)

  Beef Cow-Calf (shares) -- Average Per Cwt. Produced

                                       Avg. Of 
                                      All Farms

Number of farms                              8         

                                     Quantity     Value
Beef Calves sold (lb)                   59.57     68.84
Transferred out (lb)                    41.09     49.91
Butchered                                          0.18
Inventory change                                  -2.34
Total production                                 116.59
Other income                                         - 
Gross return                                     116.59

Direct Expenses
  Aftermath Grazing (aum)                0.08      0.99
  Corn Silage (lb.)                    250.84      2.00
  Hay, Alfalfa (lb.)                    70.03      1.72
  Hay, Grass & Other (lb.)           1,180.54     19.61
  Pasture (aum)                          1.19     15.03
  Protein Vit Minerals (lb.)             7.15      1.34
  Other feed stuffs                     28.63      0.90
  Veterinary                                       1.05
  Supplies                                         0.95
  Fuel & oil                                       1.03
  Repairs                                          4.33
  Cost of cow share lease                         45.77
  Bedding                                          0.90
  Operating interest                               1.51
Total direct expenses                             97.14
Return over direct expense                        19.45

Overhead Expenses
  Hired labor                                      1.45
  Farm insurance                                   1.37
  Utilities                                        1.92
  Interest                                         0.54
  Mach & bldg depreciation                         1.88
  Miscellaneous                                    1.56
Total overhead expenses                            8.72
Total dir & ovhd expenses                        105.86
Net return                                        10.74

Other Information
Number of cows                                     85.4
Pregnancy percentage                               99.0
Pregnancy loss percentage                           5.0
Culling percentage                                  5.4
Calving percentage                                 94.1
Weaning percentage                                 89.1
Calves sold per cow                                1.07
Calf death loss percent                             6.2
Average weaning weight                              528
Lbs weaned/exposed female                           470
Feed cost per cow                                204.60
Avg wgt/Beef Calf sold                              524
Avg price / cwt                                  115.57