24 F.coNOMic 



Montana Agricultural SxATisTirs 1993 



BARLEY & WHEAT: Production Costs and Returns Per Planted Acre, Northern Plains, 1989-91 



Item 



1989 



Gross value of production: 



Primary Crop 96.28 



Straw 2.00 



Total, gross value of production 98.28 



Cash expenses: 



Seed 7.47 



Fertilzer 14.62 



Chemicals 5.70 



Custom operations ''' 1.95 



Fuel, lubrication, and electricity 5.25 



Repairs 6.83 



Hired labor 4.77 



Other variable cash expenses ^ 1.11 



Total variable cash expenses 47.70 



General farm overhead 5.26 



Taxes and insurance 7.13 



Interest 8.82 



Total, fixed cash expenses 21.21 



Total, cash expenses 68.91 



Gross value of production less cash expenses 



29.37 



Economic (full ownership) costs: 



Variable cash expenses 47.70 



General farm overhead 5.26 



Taxes and insurance 7.13 



Capital replacement 25.69 



Operating capital 0.95 



Other nonland capital 6.45 



Land 30.40 



Unpaid labor 12.02 



Total, economic costs 135.60 



Residual returns to management and risk . . -37.32 



Harvest-month price (dollars per bushel) 2.54 



Yield (bushels per planted acre) 37.88 



-42.83 



-48.28 



-48.75 



-60.22 



-63.65 



'^ Includes cost of technical services. ^ Includes cost of purchased water. 



SOURCE: Economic Indicators of the Farm Sector, Cost of Production, 1991 USDA, ERS 



