TABLE 11 - 47
             Crop Enterprise Analysis, 2004
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                             30            
     Number of farms                              23  

     Acres                                    100.53            
     Yield per acre (ton)                       1.38            
     Operators share of yield %               100.00            
     Value per ton                             33.76            
     Other product return per acre              1.30            
     Total product return per acre             48.05            
     Miscellaneous income per acre              6.04            
     Gross return per acre                     54.08  

     Direct Expenses          
       Fertilizer                               0.87            
       Crop insurance                           0.38            
       Fuel & oil                               5.22            
       Repairs                                  6.92            
       Land rent                               15.17            
       Operating interest                       1.43            
       Miscellaneous                            1.37            
     Total direct expenses per acre            31.37            
     Return over direct exp per acre           22.71  

     Overhead Expenses          
       Hired labor                              1.90            
       Farm insurance                           1.63            
       Utilities                                0.99            
       Interest                                 1.73            
       Mach & bldg depreciation                 5.44            
       Miscellaneous                            2.95            
     Total overhead expenses per acre          14.63            
     Total dir & ovhd expenses per acre        46.00            
     Net return per acre                        8.08  

     Lbr & mgt charge per acre                  7.90            
     Net return over lbr & mgt                  0.18            
     Government payments                        4.71            
     Net return with govt payments              4.88   

     Cost of Production          
     Total direct expense per ton              22.65            
     Total dir & ovhd exp per ton              33.22            
     With labor & management                   38.93            
     Total exp less govt & oth income          30.23