TABLE 11 - 54
             Crop Enterprise Analysis, 2004 
North Dakota Farm Business Management Education Program
                      State Report
              (Farms Sorted By Net Return)

          Hay, Summer Annual Grass on Cash Rent

                                            Avg. Of 
                                           All Farms

     Number of fields                             14
     Number of farms                              10

     Acres                                     58.49
     Yield per acre (ton)                       1.68
     Operators share of yield %               100.00
     Value per ton                             43.28
     Total product return per acre             72.52
     Miscellaneous income per acre              0.13
     Gross return per acre                     72.65

     Direct Expenses
       Seed                                     8.01
       Fertilizer                               7.68
       Crop chemicals                           3.05
       Crop insurance                           0.70
       Fuel & oil                               8.20
       Repairs                                 10.20
       Custom hire                              4.03
       Land rent                               17.48
       Operating interest                       2.29
       Miscellaneous                            0.40
     Total direct expenses per acre            62.05
     Return over direct exp per acre           10.60

     Overhead Expenses
       Hired labor                              2.06
       Farm insurance                           1.30
       Interest                                 2.50
       Mach & bldg depreciation                 6.82
       Miscellaneous                            2.07
     Total overhead expenses per acre          14.73
     Total dir & ovhd expenses per acre        76.79
     Net return per acre                       -4.14

     Lbr & mgt charge per acre                 16.12
     Net return over lbr & mgt                -20.26
     Government payments                        5.92
     Net return with govt payments            -14.35

     Cost of Production
     Total direct expense per ton              37.03
     Total dir & ovhd exp per ton              45.82
     With labor & management                   55.44
     Total exp less govt & oth income          51.84