Texas Coastal Bend District

I Texas Agricultural Extension Service W The Texas A&M University System B-1241(C11) Texas Crop Enterprise Budgets Texas Coastal Bend District Wash ington Fayette Austin Colorado Lavaca Wharton Karnes DeWitt Jackson Y Matagorda San Patricio mm ii;v.;v Nueces Projected for 1997 Dr. Lawrence L. Falconer, District 11 Extension Economist-Management The Texas Agricultural Extension Service Zei le L. Carpenter, Director The Texas A&M University System College Station, Texas

INTRODUCTION This document contains the preliminary enterprise budgets for major row crops in the Coastal Bend for the 1997/98 crop year. The enterprise budgets included are those for corn, picker cotton, stripper cotton, grain sorghum and soybeans. ENTERPRISE BUDGET NOTES Feed grain prices used in these budgets represent a consensus forecast of local grain handlers for the 1997 harvest period. Cotton prices are based on adjusting the current October 1997 futures prices for average Coastal Bend basis levels. These budgets contain no set-asides or deficiency payments, in line with the FAIR Act of 1996. Because of the decoupling of market transition payments from planting requirements in the FAIR Act, market transition payments are also excluded from these budgets. These budgets are based primarily on the use of 8 row equipment, with tractor sizes ranging from 150 to 225 horsepower depending on the field operation. Diesel fuel prices are budgeted at $0.81 per gallon. Labor is budgeted at $5.75 per hour. Budgeted interest rates on operating capital are 10.5%. All harvest operations are based on custom rates. Ginning costs include charges for bagging, ties and classing fees. Boll weevil eradication assessments are included in the cotton budgets for the 1997/1998 crop year. These budgets assume that the producer will treat for boll weevils in addition to program treatments. In this case, the producer would possibly be eligible for up to $7.50 per acre under current program guidelines. This credit is not included in the budgets. Fertilizer prices were held constant at 1996 levels, based on forecasts of local suppliers. Prices for other inputs reflect the high end of ranges of consensus forecasts by local suppliers and custom operators.

Date of Printing : 09/23/96 == ECONOMIC COSTS and RETURNS == Owner Budget by Stage Corn, Coastal Upland Texas Coastal Bend District (11) GROSS INCOME Description CORN-COASTAL UP. GROSS Income VARIABLE COST Description Q u a n t i t y U n i t $ / U n i t 700 bu. 3.0800 Q u a n t i t y U n i t $ / U n i t 215.60 215.60 PHOSPHATE ATRAZINE SEED SOIL INSECTICIDE FOLIAR IRON FOLIAR IRON Fuel & Lube - Machinery R e p a i r s - M a c h i n e r y L a b o r - M a c h i n e r y 75.0 lb. 30.0 lb. 1..250 lb. 20.0 thou 0..125 gal 1 0 gal 1 0 gal 2.189 Hour.228.250 2.750 10 950.900.900 5.751 17.10 7.50 3.43 20 11.87 0.90 0.90 10.57 3.39 12.59 88.26 Interest - OC Borrowed Interest - Positive Cash & HAUL 51.267-1.092 Dol. Dol. 39.200 cwt. 0.105 0.030.700 5.38-0.03 27.44 27.44 VARIABLE COST 121.06 GROSS INCOME minus VARIABLE COST 94.54 FIXED COST Description Unit Machinery and Equipment Land 42.16 39.40 FIXED Cost 81.56 of ALL Cost 202.62 NET PROJECTED RETURNS 12.98

== BUDGET DEFINITION Report == Data File : "CORNCU97.BUD" Date of Printing : 09/23/96 Date Stage Type Product Name Number! Weight Cash 1 of of of per Non- Production Prod. Units Head Cash 07/19/97 A CORN-COASTAL UP. 7000 00 C Share Even Prod. 33 Date Stage Type Input Name Number Cash Fixed Landlord of of of Non- or Share Production Input Units Cash Vari. ======== ================ ===== ================:========= ============= ==== = ===== ======== 07/25/96 M DISKING 20FT 100 07/31/96 M BEDDING 180 8ROW 100 09/30/96 M BEDDING 180 8ROW 100 11/14/96 E FERT 7500 C V 33 11/14/96 M APPLY FERT 8 ROW 100 11/14/96 E PHOSPHATE FERT 3000 c V 33 12/14/96 M BEDDING 180 8ROW 100 12/14/96 E ATRAZINE HERB 1.2500 12/14/96 M APPLY HERBICIDE 100 02/15/97 M PICKUP TRUCK 3/4 TON 2100 02/24/97 E SEED CORN 2000 c V 02/24/97 M PLANTING 8R CORN 100 02/24/97 E SOIL INSECTICIDE FURADAN.1250 c V 03/14/97 E FOLIAR IRON 100 03/14/97 M APPLY IRON 100 03/19/97 M CULTIVATE 180 8R 100 04/09/97 E FOLIAR IRON 100 04/09/97 M APPLY IRON 100 04/14/97 M CULTIVATE 180 8R 100 07/19/97 K CROPLAND 100 F 07/24/97 G & HAUL CORN 39.2000 c V 33

Date of Printing : 09/23/96 == ECONOMIC COSTS and RETURNS == Owner Budget by Stage Corn, Gulf Coast Texas Coastal Bend District ( 11) GROSS INCOME Description CORN-GULF COAST GROSS Income VARIABLE COST Description PHOSPHATE ATRAZINE SEED SOIL INSECTICIDE FOLIAR IRON FOLIAR IRON Fuel & Lube - Machinery R e p a i r s - M a c h i n e r y L a b o r - M a c h i n e r y Interest - OC Borrowed Interest - Positive Cash & HAUL VARIABLE COST Q u a n t i t y U n i t $ / U n i t T o t a l 750 bu. 3.0800 231 231 Quantity Unit $ / Unit :========== ==== =========== =========== 800 lb..228 18.24 300 lb..250 7.50 1.250 lb. 2.750 3.43 200 thou 10 20 0.125 gal 950 11.87 10 gal.900 0.90 10 gal.900 0.90 10.57 3.39 2.189 Hour 5.751 12.59 89.40 52.038 Dol. 0.105 5.46-1.287 Dol. 0.030-0.04 420 cwt..700 29.40 29.40 124.23 GROSS INCOME minus VARIABLE COST 106.77 FIXED COST Description Machinery and Equipment Land FIXED Cost of ALL Cost NET PROJECTED RETURNS Unit 42.16 39.40 81.56 205.79 25.21

== BUDGET DEFINITION Report == Data File : "CORNGC97.BUD" Date of Printing : 09/23/96 Date Stage Type Product Name Number Ẇeight Cash 1 of of of per Non- Production Prod. Units Head Cash ======== ================ ===== ========================= ============= ==== ========:= ===== : 07/19/97 A CORN-GULF COAST 7500 00 c Share Even Prod. 33 N Date Stage Type Input Name Number Cash Fixed Landlord of of of Non- or Share Production Input Units Cash Vari. ======== ================ ===== ========================= ============= ==== = ===== ======== 07/25/96 M DISKING 2 OFT 100 07/31/96 M BEDDING 180 8ROW 100 09/30/96 M BEDDING 180 8ROW 100 11/14/96 E FERT 8000 c V 33 11/14/96 M APPLY FERT 8 ROW 100 11/14/96 E PHOSPHATE FERT 3000 c V 33 12/14/96 M BEDDING 180 8ROW 100 12/14/96 E ATRAZINE HERB 1.2500 12/14/96 M APPLY HERBICIDE 100 02/15/97 M PICKUP TRUCK 3/4 TON 2100 02/24/97 E SEED CORN 2000 c V 02/24/97 M PLANTING 8R CORN 100 02/24/97 E SOIL INSECTICIDE FURADAN.1250 c V 03/14/97 E FOLIAR IRON 100 03/14/97 M APPLY IRON 100 03/19/97 M CULTIVATE 180 8R 100 04/09/97 E FOLIAR IRON 100 04/09/97 M APPLY IRON 100 04/14/97 M CULTIVATE 180 8R 100 07/19/97 K CROPLAND 100 F 07/24/97 G & HAUL CORN ' 4200 c V 33

Date of Printing : 09/23/96 Sorghum, Gulf Coast Texas Coastal Bend District ( 11) GROSS INCOME Description SORGHUM GROSS Income VARIABLE COST Description ATRAZINE FERTILIZER MICRONUTRIENT SEED SOIL INSECTICIDE FOLIAR IRON FOLIAR IRON Fuel & Lube - Machinery R e p a i r s - M a c h i n e r y - L a b o r - M a c h i n e r y Q u a n t i t y U n i t $ Quantity 380 cwt. Unit 1,0 lb. 0..111 TON 0,.125 gal 6.0 lb. 0,.125 gal 1.0 gal 1.0 gal 2..276 Hour / U n i t ======== =========== 5.2500 199.50 199.50 / U n i t ======== =========== 2.750 2.75 1680 18.66 50 0.62 10 6 950 11.87.900 0.90.900 0.90 10.28 3.49 5.751 13.09 68.58 I n t e r e s t - O C B o r r o w e d AND HAUL VARIABLE COST 42.757 Dol. 0.105 4.49 380 CWT.600 22.80 22.80 95.87 GROSS INCOME minus VARIABLE COST FIXED COST Description Machinery and Equipment Land FIXED Cost of ALL Cost NET PROJECTED RETURNS 103.64 Unit ==== =========== 45.98 39.40 85.38 181.24 18.26

== BUDGET DEFINITION Report == Data File : "MIL097.BUD" Date of Printing : 09/23/96 Date Stage Type Product Name Number Weight Cash of of of per Non- Production Prod. Units Head Cash 07/14/97 A SORGHUtf 3800 00 C Share Even Prod. 33 Date Stage Type Input Name Number Cash Fixed 1Landlord of of of Non- or Share Production Input Units Cash Vari. ======== ================ ===== = = === === = = = = ====:========= ============= ===== ===== :======== 08/15/96 M SHRED STALKS 150 HP 100 08/20/96 M DISKING 2 OFT 100 09/15/96 M BEDDING 180 8ROW 100 09/30/96 E ATRAZINE HERB 100 C V 09/30/96 M APPLY HERBICIDE 100-11/10/96 E FERTILIZER 60-20-0.1111 c V 33 11/10/96 M APPLY FERT 8 ROW 100 11/10/96 E MICRONUTRIENT ZINC.1250 c V 33 01/15/97 M BEDDING 180 8ROW 100 01/15/97 M PICKUP TRUCK 3/4 TON 2100 03/04/97 E SEED SORGHUM 600 c V 03/04/97 M PLANTING 8R SORG 100 03/04/97 E SOIL INSECTICIDE FURADAN.1250 c V 03/14/97 E FOLIAR IRON 100 03/14/97 M APPLY IRON 100 03/20/97 M CULTIVATE 150 8R 100 04/14/97 M APPLY IRON 100 04/14/97 E FOLIAR IRON.100 04/20/97 M CULTIVATE 150 8R 100 07/14/97 G AND HAUL SORGHUM 3800 c V 07/14/97 K CROPLAND 100 F

Cotton, Picker, Dryland, Coastal Plain Texas Coastal Bend ( District 11), Date of Printing : 09/ 23/ 96 GROSS INCOME Description Q u a n t i t y U n i t $ / U n i t COTTON LINT COTTONSEED 6250 lb. 0.500 ton 0.7100 9500 443.75 47.50 GROSS Income 491.25 VARIABLE COST Description FERTILIZER HERBICIDE PRE-EM SEED CAPAROL BWE PROGRAM SCOUTING INSECTICIDE-FLEA INSECTICIDE-FLEA INSECTICIDE-BOLL PIX INSECTICIDE-BOLL INSECTICIDE-BOLL INSECTICIDE-BOLL INSECTICIDE-BOLL PIX INSECTICIDE-BOLL INSECTICIDE-BOLL INSECTICIDE-BOLL Fuel & Lube - Machinery R e p a i r s - M a c h i n e r y L a b o r - M a c h i n e r y DEFOLIANTS DEFOLIANT APPL. PICK & MODULE GINNING I n t e r e s t - O C B o r r o w e d I n t e r e s t - P o s i t i v e C a s h VARIABLE COST GROSS INCOME minus VARIABLE COST intity Unit $ / Unit :======= ==== =========== =========== 0.131 TON 1500 19.65 1.250 LBS. 70 8.75 180 lb..900 16.20 10 QT 8.500 8.50 10 ACRE 23.140 23.14 10 acre 50 5 10 appl 2.500 2.50 3.200 OZ.718 2.29 10 appl 2.500 2.50 3.200 OZ.718 2.29 10 PT 4.062 4.06 0.250 pint 13.750 3.43 10 appl 2.500 2.50 10 PT 4.062 4.06 10 appl 2.500 2.50 10 PT 4.062 4.06 10 appl 2.500 2.50 10 PT 4.062 4.06 10 appl 2.500 2.50 10 PT 4.062 4.06 10 appl 2.500 2.50 0.250 pint 13.750 3.43 40 OZ 2.700 10.80 10 appl 2.500 2.50 10 appl 2.500 2.50 10 PT 4.062 4.06 40 OZ 2.700 10.80 10 appl 2.500 2.50 11.14 3.48 2.033 Hour 5.751 11.69 190 0.200 Lb. 550 11 10 acre 30 3 18.750 cwt. 3.200 60 6250 LB..108 67.50 141.50 105.338 Dol. 0.105 11.06-6.626 Dol. 0.030-0.20 342.37 148.88 FIXED COST Description Unit Machinery and Equipment Land FIXED Cost of ALL Cost NET PROJECTED RETURNS 42.72 39.40 82.12 424.49 66.76

== BUDGET DEFINITION Report == Data File : "CPKR97.BUD" Date of Printing : 09/23/96 Date Stage Type of of Production Prod. Product Name Number of Units Weight Cash Landlord Break p e r N o n - S h a r e E v e n Head Cash Prod. 09/09/97 09/09/97 COTTONSEED COTTON LINT.5000 62500 OOOO C OOOO C 25 25 Date Stage of Production Type of Input Input Name N u m b e r C a s h F i x e d L a n d l o r d o f N o n - o r S h a r e U n i t s C a s h V a r i. 08/24/96 08/31/96 09/20/96 10/15/96 11/15/96 11/15/96 11/15/96 11/15/96 02/15/97 02/28/97 02/28/97 02/28/97 03/01/97 03/31/97 04/09/97 04/14/97 04/14/97 04/24/97 04/24/97 05/07/97 05/14/97 05/14/97 05/14/97 05/18/97 05/18/97 05/22/97 05/22/97 06/12/97 06/12/97 06/17/97 06/17/97 06/22/97 06/22/97 06/22/97 06/27/97 06/27/97 07/01/97 07/01/97 08/04/97 08/04/97 08/19/97 08/31/97 09/14/97 M S H R E D S TA L K S 1 5 0 H P M C H I S E L 1 8 0 H P M D I S K I N G 2 0 F T M FIELD CULTIVATOR 29 FT E F E R T I L I Z E R 7 5-1 5-0 M A P P L Y F E R T 8 R O W E HERBICIDE PRE-EM INCORP. M HERBICIDE APPL. DISC20 M P I C K U P T R U C K 3 / 4 T O N E S E E D C O T T O N M P L A N T I N G 8 R C O T N E CAPAROL E BWE PROGRAM G SCOUTING M C U L T I V A T E 1 5 0 8 R E INSECTICIDE-FLEA HOPPERS E INSECTICIDE-FLEA HOPPERS M C U L T I V A T E 1 5 0 8 R E INSECTICIDE-BOLL WEEVILS E P I X E INSECTICIDE-BOLL WEEVILS E INSECTICIDE-BOLL WEEVILS E INSECTICIDE-BOLL WEEVILS E INSECTICIDE-BOLL WEEVILS E P I X E INSECTICIDE-BOLL WORMS E INSECTICIDE-BOLL WEEVILS E INSECTICIDE-BOLL WORMS E D E F O L I A N T S P I C K E R G DEFOLIANT APPL. G PICK & MODULE COTTON G G I N N I N G P I C K E R K CROPLAND 100 100 l.qooo 100.1310 100 1.2500 100 2100 1800 1.2000 0000 0000 0000 2000 2000 100.2500 100 100.2500 400 100.2000 100 18.7500 62500 100 25.25.25 25

RICE. FIRST AND SECOND CROP West Side of Texas Upper Coast District (11) 1997 Projected Costs and Returns per GROSS INCOME Description Q u a n t i t y U n i t S/Unit Your Estimate RICE 1ST CROP LOAN 550 cwt R I C E 2 N D C R O P L O A N 1 2 0 0 0 c w t R I C E P R E M I U M 6 7. 0 0 0 c w t CONTRACT PAYMENT 53.480 cwt TOTAL PROJECTED RETURNS 6.500 357.50 6.500 78 30 201 2740 146.54 783.04 VARIABLE COST Description Q u a n t i t y U n i t S/Umt IRRK3ATION-1ST & 2ND CROP SEED CUST AIR SEED PHOSPHATE POTASH CUST AIR FERT PROPANIL-ORDRAM CUST AIR HERB CUST AIR FERT FURADAN-3G CUST AIR INSECT CUST AIR FERT FUNGICIDE CUST AIR FUNGICIDE INSECTICIDE CUST AIR INSECT Fuel & Lube - Machinery Repair - Machinery Irrigation Labor Machinery Irrigation 300 1.080 10 450 450 200 10 2000 2000 800 10 10 10 550 10 32000 2000 2000 2000 2950 1.280 Acin cwt acre lb. lb. lb. acre appl appl lb. acre acre appl lb. acre ozs appl appl appl acre acre acre hour hour 30 21.500 4.601 0.220 0.240 0.110 4.400 25.340 4.600 0.220 3.600 14.600 2930 0.220 2200 0.977 4.600 3.325 2930 6.102 6.102 90 23.22 4.60 9.90 10.60 220 4.40 50.68 9.60 17.60 3.60 14.60 293 1210 220 31.26 9.60 6.65 5.66 17.20 15.66 0.10 18 7.81 1ST CUSTOM HAUUNG DRYING Sales Commission and Checkoff Fuel & Lube Machinery Repairs - Machinery Labor Machinery 1ST CUST AIR FERT Fuel & Lube - Machinery Repairs Machinery -Irrigation Labor Machinery 2ND CUSTOM HAUUNG DRYING Sales Commission and Checkoff Fuel & Lube Machinery Repairs Machinery Labor -Machinery 2ND Interest -OC Borrowed Interest -PositiveCash VARIABLE COST GROSS INCOME minus VARIABLE COST hour 370.77 60.109 cwt 0.280 16.83 60.109 cwt 0.900 54.10 550 cwt 0.150 8.25 acre 253 acre 14.89 0.385 hour 6.102 2.35 98.95 1000 lb. 0.220 22 10 acre 40 4 acre 0.38 acre 0.33 acre 0.03 0.051 hour 6.102 0.31 27.05 13.260 cwt 0.280 3.71 13.260 cwt 0.900 11.93 12000 cwt 0.150 1.80 acre 1.90 acre 11.17 0.289 hour 6.102 1.76 3227 260.900 dot 0.105 27.39 00 dol 01 0 556.43 226.61 FIXED COST Description Unit Machinery and Equipment Land FIXED Cost of ALL Cost NET PROJECTED RETURNS acre 68.13 acre 75 141.13 697.56 65.48 09/25/97 04:13:20 PM Ricewest123

Coastal Bermudagrass Hay & Grazing (3 Cuttings) Coastal Bend (District 11) Date of Printing : 03/18/96 GROSS INCOME Description Q u a n t i t y U n i t $ / U n i t GRAZING HAY COASTAL 1.500 AUM 800 12 60 Roll 3000 180 GROSS Income VARIABLE COST Description PHOSPHATE POTASH FERTILIZER APPL. 2.4D AMINE HERB APPL-GROUND FERTILIZER APPL. FERTILIZER APPL. I n t e r e s t - O C B o r r o w e d VARIABLE COST 192 Quantity Unit $ / Unit :========== ==== =========== =========== 600 lb..228 13.68 200 lb..250 5 400 lb..180 7.20 10 acre 2.750 2.75 0.750 lb. 2.770 2.07 10 AC 2.500 2.50 33.21 2.500 Roll 16.500 41.25 2.500 Roll 20 5 46.25 600 lb..228 13.68 10 acre 2.750 2.75 16.43 20 Roll 16.500 33 20 Roll 20 4 37 600 lb..228 13.68 10 acre 2.750 2.75 16.43 1.500 Roll 16.500 24.75 1.500 Roll 20 3 27.75 59.559 Dol. 0.105 6.25 183.32 B r e a k - E v e n P r i c e, To t a l Va r i a b l e C o s t $ 2 8. 5 5 p e r R o l l o f H AY GROSS INCOME minus VARIABLE COST FIXED COST Description Unit FIXED Cost 8. 68 19,.75 ========::== 19..75 Break- Even Price, Cost $ 31. 84 per Roll of HAY of ALL Cost NET PROJECTED RETURNS 203.07-11.07

== BUDGET DEFINITION Report == Data File : "HAY3-96.BUD* Date of Printing : 03/18/96 Date Stage Type Product Name Number Weight Cash. Landlord Break of of of per Non- Share Even Production Prod. Units Head CashL Prod. 05/30/96 A HAY COASTAL 2.5000 00 N Y 07/15/96 A HAY COASTAL 200 00 N Y 08/01/96 A GRAZING 1.5000 00 N N 10/20/96 A HAY COASTAL 1.5000 00 N Y Date Stage Type Input Name Number Cash Fixed Landlord of of. of Non- or Share Production Input Units Cash Vari. ======== ================ ===== ================:========= ============= =====: ===== ======:== 04/01/96 B FERT 6000 C V 00 04/01/96 E PHOSPHATE FERT 2000 c V 04/01/96 E POTASH FERT 4000 c V 04/01/96 G FERTILIZER APPL. 100 c V 04/15/96 E 2,4D AMINE.7500 c V 04/15/96 G HERB APPL-GROUND 100 c V 05/30/96 G HAY 2.5000 c V 05/30/96 G HAY 2.5000 c V 06/01/96 E FERT 6000 c V 06/01/96 G FERTILIZER APPL. 100 c V 07/15/96 G HAY 200 c V 07/15/96 G HAY 200 c V 09/01/96 E FERT 6000 c V 09/01/96 G FERTILIZER APPL. 100 c V 10/20/96 G HAY 1.5000 c V 10/20/96 G HAY 1.5000 c V 10/30/96 K COASTAL BERMUDA HAY 100 N F

Date of Printing : 03/06/96 Coastal Bemtudagrass Hay (4 Cuttings) Coastal Bend (District 11) GROSS INCOME Description Q u a n t i t y U n i t $ / U n i t HAY COASTAL 70 Roll 3000 210 GROSS Income 210 VARIABLE COST Description Quantity Unit $ / Unit PHOSPHATE POTASH FERTILIZER APPL. HERBICIDE HAY HERB APPL-GROUND 600 lb. 200 lb. 400 lb. 10 acre 1.330 pt. 10 AC.228.250.180 2.750 3.010 2.500 13.68 5 7.20 2.75 4 2.50 FERTILIZER APPL. FERTILIZER APPL. 35.13 2.500 Roll 16.500 41.25 2.500 Roll 20 5 46.25 600 lb..228 13.68 10 acre 2.750 2.75 16.43 20 Roll 16.500 33 20 Roll 20 4 37 600 lb..228 13.68 10 acre 2.750 2.75 16.43 10 Roll 16.500 16.50 10 Roll 20 2 1.500 Roll 16.500 24.75 1.500 Roll 20 3 46.25 I n t e r e s t - O C B o r r o w e d 7 0. 4 7 1 D o l. 0. 1 0 5 VARIABLE COST 7.40 204.89 B r e a k - E v e n P r i c e, To t a l Va r i a b l e C o s t $ 2 9. 2 7 p e r R o l l o f H AY GROSS INCOME minus VARIABLE COST FIXED COST Description Unit 5.11 Land FIXED Cost 19.75 19.75 Break- Even Price, Cost $ 32. 09 per Roll of HAY of ALL Cost NET PROJECTED RETURNS 224.64-14.64

== BUDGET DEFINITION Report == Data File : "HAY4-96.BUD* Date of Printing : 03/06/96 Date Stage Type Product Name Number Weight Cash I of Of of per Non- Production Prod. Units Head Cash ======== ================ ===== ================:========= ============= =====:======== ====:= : 05/15/96 A HAY COASTAL 2.5000 00 N 06/15/96 A HAY COASTAL 200 00 N 09/01/96 A HAY COASTAL 100 00 N 10/20/96 A HAY COASTAL 1.5000 00 N Share Even Prod. Y Y Y Y Date Stage Type Input Name Number Cash Fixed Landlord of of of Non- o r IShare Production Input Units Cash Vari. 04/01/96 E FERT 6000 C V 04/01/96 B PHOSPHATE FERT 2000 c V 04/01/96 E POTASH FERT 4000 c V 04/01/96 G FERTILIZER APPL. 100 c V 04/15/96 E HERBICIDE HAY 1.3300 c V 04/15/96 G HERB APPL-GROUND 100 c V 05/15/96 G HAY 2.5000 c V 05/15/96 G HAY 2.5000 c V 05/20/96 E FERT 6000 c V 05/20/96 G FERTILIZER APPL. 100 c V 06/15/96 G HAY 200 c V 06/15/96 G HAY 200 c V 08/01/96 E FERT 6000 c V 08/01/96 G FERTILIZER APPL. 100 c V 09/01/96 G HAY 100 c V 09/01/96 G HAY 100 c V 10/20/96 G HAY 1.5000 c V 10/20/96 G HAY 1.5000 c V 10/30/96 K COASTAL BERMUDA HAY 100 N F

Coastal Bermudagrass Hay (5 Cuttings) Coastal Bend (District 11) GROSS INCOME Description Q u a n t i t y U n i t $ / Unit HAY COASTAL 8.500 Roll 3000 255 GROSS Income VARIABLE COST Description Q u a n t i t y U n i t $ / U n i t 255 PHOSPHATE POTASH FERTILIZER APPL. HERBICIDE HAY HERB APPL-GROUND 600 lb. 200 lb. 400 lb. 10 acre 1.330 pt. 10 AC.228.250.180 2.750 3.010 2.500 13.68 5 7.20 2.75 4 2.50 FERTILIZER APPL. FERTILIZER APPL. 35.13 2.500 Roll 16.500 41.25 2.500 Roll 20 5 46.25 600 lb..228 13.68 10 acre 2.750 2.75 16.43 20 Roll 16.500 33 20 Roll 20 4 1.500 Roll 16.500 24.75 1.500 Roll 20 3 64.75 600 lb..228 13.68 10 acre 2.750 2.75 16.43 10 Roll 16.500 16.50 10 Roll 20 2 1.500 Roll 16.500 24.75 1.500 Roll 20 3 46.25 I n t e r e s t - O C B o r r o w e d 7 8. 8 1 7 D o l. 0. 1 0 5 VARIABLE COST 8.28 233.52 B r e a k - E v e n P r i c e, To t a l Va r i a b l e C o s t $ 2 7. 4 7 p e r R o l l o f H AY GROSS INCOME minus VARIABLE COST FIXED COST Description Unit Land FIXED Cost 21..48 ============ 19..75 19..75 Break- Even Price, Cost $ 29. 79 per Roll of HAY of ALL Cost NET PROJECTED RETURNS 253.27 1.73

== BUDGET DEFINITION Report Data File : "HAY5-96.BUD" Date of Printing : 03/05/96 Date Stage Type Product Name Number Weight Cash ] of of of per Non- Production Prod. Units Head Cash ======== ================ ===== ========================= ============= ==== ========= ===== : 05/15/96 A HAY COASTAL 2.5000 00 N 06/15/96 A HAY COASTAL 200 00 N 07/15/96 A HAY COASTAL 1.5000 00 N 09/15/96 A HAY COASTAL 100 00 N 10/15/96 A HAY COASTAL 1.5000 00 N Share Even Prod. Y Y Y Y Y Date Stage Type Input Name Number Cash Fixed Landlord of of of Non- o r S h a r e Production Input Units Cash Vari. 04/01/96 E FERT 6000 C V 04/01/96 E PHOSPHATE FERT 2000 C V 04/01/96 E POTASH FERT 4000 c V 04/01/96 G FERTILIZER APPL. 100 c V 04/15/96 E HERBICIDE HAY 1.3300 c V 04/15/96 G HERB APPL-GROUND 100 c V - 05/15/96 G HAY 2.5000 c V 05/15/96 G HAY 2.5000 c V 05/20/96 E FERT 6000 c V 05/20/96 G FERTILIZER APPL. 100 c V 06/15/96 G HAY 200 c V 06/15/96 G HAY 200 c V 07/15/96 G HAY 1.5000 c V 07/15/96 G HAY 1.5000 c V 07/20/96 E FERT 6000 c V 07/20/96 G FERTILIZER APPL. 100 c V 09/15/96 G HAY 100 c V 09/15/96 G HAY 100 c V 10/15/96 G HAY 1.5000 c V 10/15/96 G HAY 1.5000 c V 10/30/96 K COASTAL BERMUDA HAY 100 N F

Texas A&M Agricultural Extension Service Rt. 2, Box 589 Corpus Christi, Texas 78406-9704 512-265-9203 Fax: 512-265-9434 FAX TRANSMISSION COVER SHEET Re:Jh^^^ Sender: Dr. C. Wayne Hanselka,2. YOU SHOULD RECEIVE PAGE&), INCLUDING THIS COVER SHEET. IF YOU DO NOT RECEIVE ALL THE PAGES, PLEASE CALL 512-265-9203. $»