TABLE 11 - 51
             Crop Enterprise Analysis, 2004 
North Dakota Farm Business Management Education Program
                      State Report
              (Farms Sorted By Net Return)

                 Hay, Oats on Cash Rent

                                            Avg. Of 
                                           All Farms

     Number of fields                             23
     Number of farms                              18

     Acres                                     78.31
     Yield per acre (ton)                       1.95
     Operators share of yield %               100.00
     Value per ton                             40.08
     Total product return per acre             78.32
     Miscellaneous income per acre              2.25
     Gross return per acre                     80.57

     Direct Expenses
       Seed                                     6.89
       Fertilizer                              10.42
       Crop chemicals                           1.51
       Crop insurance                           1.71
       Fuel & oil                               6.11
       Repairs                                  8.49
       Custom hire                              2.06
       Land rent                               23.05
       Operating interest                       1.14
       Miscellaneous                            0.98
     Total direct expenses per acre            62.35
     Return over direct exp per acre           18.23

     Overhead Expenses
       Hired labor                              1.83
       Machinery & bldg leases                  0.43
       Farm insurance                           1.63
       Utilities                                1.02
       Dues & professional fees                 0.09
       Interest                                 1.27
       Mach & bldg depreciation                 8.20
       Miscellaneous                            2.87
     Total overhead expenses per acre          17.35
     Total dir & ovhd expenses per acre        79.69
     Net return per acre                        0.88

     Lbr & mgt charge per acre                 10.34
     Net return over lbr & mgt                 -9.46
     Government payments                        8.62
     Net return with govt payments             -0.84

     Cost of Production
     Total direct expense per ton              31.91
     Total dir & ovhd exp per ton              40.78
     With labor & management                   46.07
     Total exp less govt & oth income          40.51