24 Economic 



Montana Agricultural Statistics 1992 



BARLEY & WHEAT: Production Costs and Returns Per Planted Acre, Northern Plains, 1988-90 



Item 



1988 



Gross value of production: 



Primary Crop 51.24 



Secondary Crop 2.35 



Total 53.59 



Cash expenses: 



Seed 5.15 



Fertilzer 14.29 



Chemicals 5.56 



Custom operations 0.99 



Fuel, lubrication, and electricity 4.43 



Repairs 5.31 



Hired labor 4.35 



Purchased irrigation water 1.09 



Technical services 0.27 



Total variable cash expenses 41.44 



General farm overhead 5.51 



Taxes and insurance 5.96 



Interest on operating loans 3.07 



Interest on real estate 5.57 



Total, fixed cash expenses 20.11 



Total, cash expenses 61.55 



Gross value of production less cash expenses -7.96 



Economic (full ownership) costs: 



Variable cash expenses 41.44 



General farm overhead 5.51 



Taxes and insurance 5.96 



Capital replacement 20.19 



Operating capital 0.72 



Other nonland capital 4.12 



Land 23.25 



Unpaid labor 10.95 



Subtotal 112.14 



Residual returns to management and risk . . -58.55 



Harvest-month price (dollars per bushel) 3.04 



Yield (bushels per planted acre) 16.87 



-37.32 



-42.83 



-48.55 



-20.44 



-32.22 



SOURCE: Economic Indicators of the Farm Sector, Cost of Production-Major Field Crops, 1990, USDA-ERS 



