TABLE 11 - 48
             Crop Enterprise Analysis, 2004
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                             26
     Number of farms                              16

     Acres                                    116.40
     Yield per acre (ton)                       1.26
     Operators share of yield %               100.00
     Value per ton                             27.19
     Other product return per acre              0.26
     Total product return per acre             34.45
     Miscellaneous income per acre              1.22
     Gross return per acre                     35.67

     Direct Expenses
       Crop insurance                           0.02
       Fuel & oil                               6.27
       Repairs                                  6.78
       Custom hire                              0.56
       Operating interest                       0.53
       Miscellaneous                            1.10
     Total direct expenses per acre            15.26
     Return over direct exp per acre           20.41

     Overhead Expenses
       Hired labor                              3.81
       RE & pers. property taxes                2.21
       Farm insurance                           2.30
       Utilities                                0.99
       Dues & professional fees                 0.30
       Interest                                 5.43
       Mach & bldg depreciation                 8.39
       Miscellaneous                            0.80
     Total overhead expenses per acre          24.22
     Total dir & ovhd expenses per acre        39.49
     Net return per acre                       -3.82

     Lbr & mgt charge per acre                  8.06
     Net return over lbr & mgt                -11.87
     Government payments                          - 
     Net return with govt payments            -11.87

     Cost of Production
     Total direct expense per ton              12.14
     Total dir & ovhd exp per ton              31.40
     With labor & management                   37.80
     Total exp less govt & oth income          36.63