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 Front Cover
 Abstract
 Acknowledgements
 Table of Contents
 List of Tables
 Introduction
 Method of data collection
 Costs and inputs
 The grove situation
 Budget costs and returns
 Historical cost trends
 References
 Addenda


UF FLAG IFAS



Budgeting costs and returns
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 Material Information
Title: Budgeting costs and returns
Series Title: Economic information report
Portion of title: Budgeting costs and returns for Central Florida citrus production
Budgeting costs and returns for for <sic> Central Florida citrus production
Physical Description: v. : ; 27 cm.
Language: English
Creator: University of Florida -- Food and Resource Economics Dept
Publisher: Food and Resource Economics Dept., Agricultural Experiment Stations and Cooperative Extension Service, Institute of Food and Agricultural Sciences, University of Florida
Place of Publication: Gainesville
Creation Date: 2004
Frequency: annual
regular
 Subjects
Subjects / Keywords: Citrus fruit industry -- Economic aspects -- Periodicals -- Florida   ( lcsh )
Citrus fruits -- Marketing -- Periodicals -- Florida   ( lcsh )
Genre: governmental publication   ( marcgt )
serial   ( sobekcm )
 Notes
General Note: Title varies slightly: <1992-93>- Budgeting costs and returns for Central Florida Citrus Production.
General Note: Description based on: 1978-79; cover title.
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Rights Management: All rights reserved by the source institution and holding location.
Resource Identifier: aleph - 000313320
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notis - ABU0053
lccn - sn 82000631 /g
System ID: UF00026157:00028

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Table of Contents
    Front Cover
        Front Cover
    Abstract
        Page i
    Acknowledgements
        Page i
    Table of Contents
        Page ii
    List of Tables
        Page iii
    Introduction
        Page 1
    Method of data collection
        Page 1
    Costs and inputs
        Page 2
    The grove situation
        Page 2
        Page 3
    Budget costs and returns
        Page 4
    Historical cost trends
        Page 5
        Page 6
        Page 7
        Page 8
        Page 9
    References
        Page 10
    Addenda
        Page 11
        Page 12
        Page 13
        Page 14
        Page 15
        Page 16
        Page 17
        Page 18
        Page 19
        Page 20
        Page 21
        Page 22
        Page 23
        Page 24
        Page 25
        Page 26
        Page 27
        Page 28
        Page 29
        Page 30
Full Text


Ronald P. Muraro


W. C. Oswalt


Budgeting Costs and


EDIS FE629


http://edis.ifas.ufl.edu/FE629


Returns


for Central Florida Citrus


Production,


fUF UNIVERSITY of
UF LORIDA
IFAS Extension
Institute of Food and Agricultural Sciences
Food and Resource Economics Department
Florida Agricultural Experiment Station
Florida Cooperative Extension Service
Gainesville, FL 32611


2004-05


September 2005

















ABSTRACT


Estimated costs and returns of growing round oranges in the Central Florida citrus area are
presented for the twenty-second consecutive year. The Central Florida citrus area refers primarily to Polk
and Highlands counties. The format presented may be used by individual growers to budget costs and
returns, utilizing individual data on specific groves.

Key words: citrus, Central Florida, budgeting, costs and returns.

NOTE: The Central Florida production area refers to Polk and Highlands counties. However, the
costs presented in this report are applicable to other counties such as Hardee, Hillsborough,
Lake and Orange counties.

The budgeted cost information presented herein is the most current available. The budget
cost items have been revised to reflect current grove practices being used by growers-e.g.,
chemical mowing, different spray materials and rates of fertilization, microsprinkler
irrigation, more reset trees, etc. The 2004-2005 budgets reflect major cost increases in all
production inputs: fuel averaged a 22% increase; fertilizer products increased 15%;
chemicals averaged an 8% increase; and equipment operation costs increased 7%. Along
with the increased costs, three major hurricanes (storms) during August and September 2004
resulted in wide tree damage and fruit loss. The Indian River region experienced fruit loss
of 70% to 80% on red and white grapefruit, respectively. Hamlin orange losses in the
Central Florida (ridge) region were 30% to 40% with Valencia orange losses between 20%
and 30%. The only citrus growing region that was not significantly affected by the three
storms was the Southwest Florida citrus region. As a result of the excessive fruit loss, the
per box, per pound solid and per carton costs for the Indian River and Central (ridge)
growing regions were substantially higher than in recent years.

The budget costs in this report represent a custom-managed operation. Therefore, all
equipment costs are based on the average custom rate costs, and a 10 percent handling
and supervision charge is added to the material cost.

Although the estimated annual per acre grove costs listed are representative for a mature
citrus grove (10+ years old), the grove care costs for a specific grove site may differ
depending upon the tree age, tree density and the grove practices performed; e.g., spot
herbicide for grass/brush regrowth under trees could add an additional $15.34 per acre;
Diaprepes control could add $84.18 per acre for each foliar application; extensive tree loss
due to blight or tristeza could substantially increase the tree replacement and care costs;
spray applications to control citrus leafminer and nematicide applications such as Temik
($131.11/acre) could increase the total cultural costs per acre above the average costs shown
in the comparative budgets; travel and set-up costs may vary due to size of the citrus grove
and distance from the grove equipment barn and could add $28.86 per acre; etc.

ACKNOWLEDGEMENTS

Appreciation is extended to Mrs. Jane Wilson for typing the final draft of this manuscript.
Appreciation is also extended to the citrus growers and production managers of the Central
Florida citrus production area who provided suggestions for the revision of this manuscript.

















ABSTRACT


Estimated costs and returns of growing round oranges in the Central Florida citrus area are
presented for the twenty-second consecutive year. The Central Florida citrus area refers primarily to Polk
and Highlands counties. The format presented may be used by individual growers to budget costs and
returns, utilizing individual data on specific groves.

Key words: citrus, Central Florida, budgeting, costs and returns.

NOTE: The Central Florida production area refers to Polk and Highlands counties. However, the
costs presented in this report are applicable to other counties such as Hardee, Hillsborough,
Lake and Orange counties.

The budgeted cost information presented herein is the most current available. The budget
cost items have been revised to reflect current grove practices being used by growers-e.g.,
chemical mowing, different spray materials and rates of fertilization, microsprinkler
irrigation, more reset trees, etc. The 2004-2005 budgets reflect major cost increases in all
production inputs: fuel averaged a 22% increase; fertilizer products increased 15%;
chemicals averaged an 8% increase; and equipment operation costs increased 7%. Along
with the increased costs, three major hurricanes (storms) during August and September 2004
resulted in wide tree damage and fruit loss. The Indian River region experienced fruit loss
of 70% to 80% on red and white grapefruit, respectively. Hamlin orange losses in the
Central Florida (ridge) region were 30% to 40% with Valencia orange losses between 20%
and 30%. The only citrus growing region that was not significantly affected by the three
storms was the Southwest Florida citrus region. As a result of the excessive fruit loss, the
per box, per pound solid and per carton costs for the Indian River and Central (ridge)
growing regions were substantially higher than in recent years.

The budget costs in this report represent a custom-managed operation. Therefore, all
equipment costs are based on the average custom rate costs, and a 10 percent handling
and supervision charge is added to the material cost.

Although the estimated annual per acre grove costs listed are representative for a mature
citrus grove (10+ years old), the grove care costs for a specific grove site may differ
depending upon the tree age, tree density and the grove practices performed; e.g., spot
herbicide for grass/brush regrowth under trees could add an additional $15.34 per acre;
Diaprepes control could add $84.18 per acre for each foliar application; extensive tree loss
due to blight or tristeza could substantially increase the tree replacement and care costs;
spray applications to control citrus leafminer and nematicide applications such as Temik
($131.11/acre) could increase the total cultural costs per acre above the average costs shown
in the comparative budgets; travel and set-up costs may vary due to size of the citrus grove
and distance from the grove equipment barn and could add $28.86 per acre; etc.

ACKNOWLEDGEMENTS

Appreciation is extended to Mrs. Jane Wilson for typing the final draft of this manuscript.
Appreciation is also extended to the citrus growers and production managers of the Central
Florida citrus production area who provided suggestions for the revision of this manuscript.


















TABLE OF CONTENTS


Page

ABSTRACT .................................................................. i

ACKNOW LEDGEM ENTS ....................................................... i

LIST O F TA B LE S .................................................... ......... iii

IN TR O D U C TIO N .................................................... ........ 1

M ETHOD OF DATA COLLECTION ............................................ 1

COSTS AND INPUTS .......................................................... 1

THE GROVE SITUATION ..................................................... 2

BUDGET COSTS AND RETURNS ................................................ 4

HISTORICAL COST TRENDS ................................................... 5

REFERENCES .................................... ................... ........ 10

A D D EN D A ........................................................ ......... 11


NOTE: The ADDENDA include a Listing of Grove Care Programs for Central
Florida Citrus Production for Both Round Oranges and Grapefruit; 2005
custom rate summary report; cost of establishing a citrus grove; etc. Page
11 is a list of the tables included in the ADDENDA.


















LIST OF TABLES


Table Page

1 Schedule of production practices and budget items for a Central Florida citrus grove,
2004-05 ................... ............................................ 3

2 Calculation of normal production per acre, 2004-05 .............................. 4

3 Estimated annual per acre costs and returns for a mature, Valencia orange grove
producing for the processed market, Central Florida area, 2004-05 .................. 6

4 Estimated total delivered-in cost for Central Florida (Ridge) Valencia oranges grown
for the processed juice market under three cultural cost programs, 2004-05 ............ 7

5 Estimated annual per acre costs and returns and 5-year average costs and returns for a
mature, Valencia orange grove producing citrus for processing in the Central Florida
area, 2000-01-2004-05 ............................................ ........ 8

6 Estimated annual per acre costs and returns and 5-year average costs and returns
(adjusted to 2005 dollars) for a mature, Valencia orange grove producing citrus for
processing in the Central Florida area, 2000-01-2004-05 .......................... 9










BUDGETING COSTS AND RETURNS FOR CENTRAL
FLORIDA CITRUS PRODUCTION, 2004-05


Ronald P. Muraro and W. C. Oswalt


INTRODUCTION


Budget analysis provides the basis for many grower decisions. Budget analysis can be used to
calculate potential profits from an operation, to determine cash requirements for an operation, and to
determine break-even prices. This report presents a budget constructed from current data and serves as
a format for growers to analyze costs and returns from their individual records. During the 1980's, several

freezes occurred which changed the character of the Central Florida citrus production area. The

December 1983 and January 1985 freezes caused extensive tree and acreage losses in north central
counties such as Lake and Orange counties. The December 1989 freeze resulted in severe tree damage
and tree loss in North and Central Polk County. Thus, Central Florida in this report refers primarily to
Polk and Highlands counties.
The 2004-2005 budgets reflect major cost increases in all production inputs: fuel averaged a 22%
increase; fertilizer products increased 15%; chemicals averaged an 8% increase; and equipment operation

costs increased 7%. Along with the increased costs, three major hurricanes (storms) during August and
September 2004 resulted in wide tree damage and fruit loss. The Indian River region experienced fruit
loss of 70% to 80% on red and white grapefruit, respectively. Hamlin orange losses in the Central Florida
(ridge) region were 30% to 40% with Valencia orange losses between 20% and 30%. The only citrus
growing region that was not significantly affected by the three storms was the Southwest Florida citrus
region. As a result of the excessive fruit loss, the per box, per pound solid and per carton costs for the
Indian River and Central (ridge) growing regions were substantially higher than in recent years.


METHOD OF DATA COLLECTION


The data presented here were developed by surveying custom operators, input suppliers, growers,

colleagues at the Citrus Research and Education Center in Lake Alfred, and County Extension Citrus
Agents in the Central Florida production region. The survey is conducted annually in February and
March.


RONALD P. MURARO is a Professor of Food and Resource Economics and Extension Farm
Management Economist stationed at the Citrus Research and Education Center, Lake Alfred.
W. C. OSWALT is a Multi-county Extension Agent, Citrus in Polk and Hillsborough Counties, Bartow.










BUDGETING COSTS AND RETURNS FOR CENTRAL
FLORIDA CITRUS PRODUCTION, 2004-05


Ronald P. Muraro and W. C. Oswalt


INTRODUCTION


Budget analysis provides the basis for many grower decisions. Budget analysis can be used to
calculate potential profits from an operation, to determine cash requirements for an operation, and to
determine break-even prices. This report presents a budget constructed from current data and serves as
a format for growers to analyze costs and returns from their individual records. During the 1980's, several

freezes occurred which changed the character of the Central Florida citrus production area. The

December 1983 and January 1985 freezes caused extensive tree and acreage losses in north central
counties such as Lake and Orange counties. The December 1989 freeze resulted in severe tree damage
and tree loss in North and Central Polk County. Thus, Central Florida in this report refers primarily to
Polk and Highlands counties.
The 2004-2005 budgets reflect major cost increases in all production inputs: fuel averaged a 22%
increase; fertilizer products increased 15%; chemicals averaged an 8% increase; and equipment operation

costs increased 7%. Along with the increased costs, three major hurricanes (storms) during August and
September 2004 resulted in wide tree damage and fruit loss. The Indian River region experienced fruit
loss of 70% to 80% on red and white grapefruit, respectively. Hamlin orange losses in the Central Florida
(ridge) region were 30% to 40% with Valencia orange losses between 20% and 30%. The only citrus
growing region that was not significantly affected by the three storms was the Southwest Florida citrus
region. As a result of the excessive fruit loss, the per box, per pound solid and per carton costs for the
Indian River and Central (ridge) growing regions were substantially higher than in recent years.


METHOD OF DATA COLLECTION


The data presented here were developed by surveying custom operators, input suppliers, growers,

colleagues at the Citrus Research and Education Center in Lake Alfred, and County Extension Citrus
Agents in the Central Florida production region. The survey is conducted annually in February and
March.


RONALD P. MURARO is a Professor of Food and Resource Economics and Extension Farm
Management Economist stationed at the Citrus Research and Education Center, Lake Alfred.
W. C. OSWALT is a Multi-county Extension Agent, Citrus in Polk and Hillsborough Counties, Bartow.









COSTS AND INPUTS


Costs for various production inputs are those collected from citrus growers as well as the average

of the data obtained from annual custom rate, chemical, and fertilizer surveys. Growers' costs are shown

in the ADDENDA, Tables 1-A through 7-A. The custom rate costs are shown in Table 8-A and the

various chemical and fertilizer costs are shown in Table 9-A and 10-A in the ADDENDA. The budget

costs represent a custom-managed operation. Therefore, all equipment costs are based upon the

average custom-rate costs and a 10 percent handling and supervision charge is added to the

material cost.

Although brand names are used in many of the tables in the ADDENDA, this does not imply

endorsement by the University of Florida. It is merely an attempt to depict typical production practices.

All tables have a column reserved for the individual growers to insert data from a particular grove

allowing a comparison of the grower's costs with those presented.


THE GROVE SITUATION


Production practices for a Central Florida round orange grove are shown in Table 1 with times

during the year when they would likely be performed. There are two benefits to developing such a table

for an individual grove. First, it shows what work is needed and when, so that operations can be planned
well in advance. Second, it can be helpful if an annual cash flow analysis is developed to plan financing.

The individual grower may benefit from developing a plan for a particular grove.

Specific production practices vary from grove to grove making it difficult to define a "typical"
grove. Many combinations of practices and various tree variety combinations produce acceptable yields

and returns. Although the example represents a Valencia orange grove, the cost and return data are

designed to be applicable to most grove situations. A grower, realtor, or land appraiser can substitute

individual grove costs and expected returns into the budget format and develop a budget for a particular

grove. A "your cost" column is appropriately provided for this purpose in subsequent tables.

In the following budget, above average management and cultural practices are assumed. Beyond

this general assumption, the following specifics are assumed.


1. A 10+ year-old, low volume-irrigated grove;
2. Variety is Valencia round orange;
3. Tree loss is 3 percent annually;
4. Trees are pulled and replaced when production falls below 50 percent of expected yield;
5. Production is for processed use;
6. Tree density is 112 trees per acre; and
7. Custom-caretaker is providing grove management.









COSTS AND INPUTS


Costs for various production inputs are those collected from citrus growers as well as the average

of the data obtained from annual custom rate, chemical, and fertilizer surveys. Growers' costs are shown

in the ADDENDA, Tables 1-A through 7-A. The custom rate costs are shown in Table 8-A and the

various chemical and fertilizer costs are shown in Table 9-A and 10-A in the ADDENDA. The budget

costs represent a custom-managed operation. Therefore, all equipment costs are based upon the

average custom-rate costs and a 10 percent handling and supervision charge is added to the

material cost.

Although brand names are used in many of the tables in the ADDENDA, this does not imply

endorsement by the University of Florida. It is merely an attempt to depict typical production practices.

All tables have a column reserved for the individual growers to insert data from a particular grove

allowing a comparison of the grower's costs with those presented.


THE GROVE SITUATION


Production practices for a Central Florida round orange grove are shown in Table 1 with times

during the year when they would likely be performed. There are two benefits to developing such a table

for an individual grove. First, it shows what work is needed and when, so that operations can be planned
well in advance. Second, it can be helpful if an annual cash flow analysis is developed to plan financing.

The individual grower may benefit from developing a plan for a particular grove.

Specific production practices vary from grove to grove making it difficult to define a "typical"
grove. Many combinations of practices and various tree variety combinations produce acceptable yields

and returns. Although the example represents a Valencia orange grove, the cost and return data are

designed to be applicable to most grove situations. A grower, realtor, or land appraiser can substitute

individual grove costs and expected returns into the budget format and develop a budget for a particular

grove. A "your cost" column is appropriately provided for this purpose in subsequent tables.

In the following budget, above average management and cultural practices are assumed. Beyond

this general assumption, the following specifics are assumed.


1. A 10+ year-old, low volume-irrigated grove;
2. Variety is Valencia round orange;
3. Tree loss is 3 percent annually;
4. Trees are pulled and replaced when production falls below 50 percent of expected yield;
5. Production is for processed use;
6. Tree density is 112 trees per acre; and
7. Custom-caretaker is providing grove management.









Table 1.--Schedule of production practices and budget items for a Central Florida citrus grove, 2004-05"

Month
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec


Total revenue:


20%
deposit

X


Less: Pick & haul cost
DOC advertisement tax


50%
Partial
payment


Final
payment


X


Grove expenses:
Disc X X
Chop
Mow X X X
Labor, general grove work, pull vines X X
Herbicide (1/2 grove acre equivalent) X X

Spray: Post bloom/nutritional X

Summer oil/greasy spot X

Fall miticide X

Supplemental miticide

Dust

Fertilizer 68# N/A 68# N/A 68# N/A Dolomite

Hedging and topping Hedge

Brush removal/chop brush Chop brush

Tree removal X X

Young tree care X X X X X

Microjet irrigation (times/week) 1 1 2 3 3 3 2 2 2 2 1 1

Miscellaneous

Grove taxes including water management X

Interest expense X

Annual principal payment on mortgage X

"This is a suggested schedule of practices. Actual practices would not necessarily be done on the exact schedule shown here.









As a result of tree losses and replacement, the tree ages will vary. The budget reflects the following

age distribution:
Yield
Situation Boxes/tree

3% pulled and reset 0.0
3% 1 year old 0.0
3% 2 years old 0.0

3% 3 years old 0.7
3% 4 years old 0.9

45% 5-19 years old 4.0
3% producing 50% of expected yield 2.9
37% mature producing 5.5

Calculation of normal production per acre is shown in Table 2. Note that the proportion-of-trees-

by-age column only adds to 91 percent since 9 percent of the trees are non-bearing. The impact of the
three hurricanes in 2004 is reflected in a 25% reduction in normal yields.


Table 2.--Calculation of normal production per acre, 2004-05

Boxes Total
Age of Tree Trees /tree boxes

Total no. Proportion No. ea.
all ages ea. age" age ---------- No. --------

3 years 112 x 0.03 3.4 x 0.7 2.4
4 years 112 x 0.03 3.4 x 0.9 3.1
5-19 years 112 x 0.45 50.4 x 4.0 201.6
Prod. 50% of
exp. yield 112 x 0.03 3.4 x 2.9 9.9
20 years 112 x 0.37 41.4 x 5.5 227.7

Total boxes 444.7
Yields adjusted to 75% of normal yields due to three hurricanes in 2004. 333.5

'Proportion adds up to 0.91 (91 percent) as 9 percent of the trees were non-bearing (pulled and
reset, 1 and 2 year old trees).


BUDGET COSTS AND RETURNS

The estimated budget costs and returns for the Central Florida grove situation are shown in Table

3. The budgeted costs represent one possible citrus production program and were selected from the costs

shown in the ADDENDA tables. The gross revenue estimates are based on the projected yields in

Table 3 and estimated preliminary on-tree prices for the 2004-05 season. Reset costs, alternative cost
scenarios, harvesting and packing charges can be found in Tables 11-A through 14-A in the ADDENDA.









Also, historical on-tree prices for selected Florida citrus varieties are shown in Table 15-A of the
ADDENDA.
As shown in Table 3, the total revenue for processed-market Valencia oranges is estimated to be
$1,425.24 per acre. Total specified costs are $895.43 and are comprised of grove care costs of $847.43,
plus management cost of $48.00. Return to land and trees of $529.81 represents net return above variable
costs. At 300 and 500 boxes per acre, respectively, the break-even price required to cover grove care
costs for Valencia oranges range from $2.83 to $1.70 per box on-tree and $0.81 to $0.64 per pounds
solids delivered-in.
Ad valorem taxes, and overhead and administrative costs (such as water drainage district taxes, crop
insurance, and other grower assessments) can add up to 12 percent to the total grove care costs. These
costs vary from grove to grove depending on age, location, variety of fruit, etc. and should be considered
in arriving at net return to land, trees and ownership (total return minus total costs). Harvest costs (pick,
roadside, and hauling costs) also add to the total fruit cost delivered to either a processing plant or fresh
fruit packinghouse. Also, average annual debt payment (principal and interest) may be as high as $440
per acre ($3,750 average debt per acre @ 10 percent interest amortized over 20 years) which would
reduce total available cash for grove expansion or other investment.
Estimated "delivered-in" costs are shown for processed oranges in Table 4. "Delivered-in" costs
include grove care costs (Table 3) plus harvesting, regulatory, and grower assessment costs. The
"delivered-in" cost is presented as a cost per acre, per box, and per pound solids. Three possible budget
cost scenarios are presented (Refer to Table 11-A): 1) Low Cost Processed Cultural Program; 2) Reduced
Cost Cultural Program; and 3) Typical/Historical Cultural Program. Scenarios 1 and 2 represent costs
of two possible cultural programs directed toward reducing the expenditures for fruit grown primarily for
the processed market. The third scenario represents typical costs of grove practices which have been
performed for citrus grown for the fresh/processed fruit market. Modified herbicide and/or spray and
fertilizer programs account for the reduced costs. NOTE: Before modifying a grove management
program to reduce costs, an evaluation of the market program (processed or fresh), yield, and specific
cultural problems (nutrition, disease, etc.) for the specific grove site should be made.


HISTORICAL COST TRENDS


Annual costs and returns for mature, processed Valencia oranges in the Central Florida area have
been developed and published the past four years. Estimated cost and return histories for 2000-01 through
2003-04 along with 2004-05 and a five-year average are presented in Table 5. To allow comparisons in
current values, these same costs and returns, adjusted to 2005 dollars, are presented in Table 6.








Table 3.--Estimated annual per acre costs and returns for a mature, Valencia orange grove producing for the processed market, Central Florida area, 2004-05'

Item Description Amount Your cost

-------------------- Dollars --- --------
I. Revenue 333 boxes @ $4.28b 1,425.24
II. Expenses'
Weed control
Discing 2 times per year 20.16
Mow middles 4 times per year 42.28
General grove work/sprouting, etc. (2 labor hours per acre) 26.86
Herbicide (Table 2-A, Program #1, #2 & #7) 121.10 210.40
Spray program (Table 1-A, Programs #8 & #10) 146.93
Fertilizer (Table 3-A, Program #3) 195.21
Dolomite (Table 6-A, Program #2) 11.36
Pruning (maintenance)
Topping ($396.50/hr. + 10 A/hr.) + 2.5 yrs. 15.86
Hedging ($336.25/hr. + 10 A/hr.) + 2 yrs. 16.82
Mow/chop brush ($9.74/A + 2 yrs.) 4.87 37.55
Tree replacement and care (Table 12-A) (1 through 3 years)
Remove trees/stack/burn 3 trees per acre 15.22
Prepare sites and plant resets Including 3 trees per acre 34.80
Supplemental fertilizer, tree wraps, maintenance, sprout, etc. Including application 29.79 79.81
Microsprinkler irrigation (Table 7-A, Program #4) 166.17
Total grove care expenses 847.43
III. Management $4.00 per acre per month 48.00
IV. Total specified costs 895.43
V. Return to land, trees, and ownership 529.81
VI. Break-even price for total grove care expenses

Boxes per acre Boxes per acre
300 350 400 450 500 300 350 400 450 500

$ On-tree price per box $ Delivered-in price per pound solidsf
2.83 2.43 2.12 1.89 1.70 0.81 0.75 0.70 0.67 0.64

'Although the estimated annual per acre grove costs shown in Table 3 are representative for a mature Central Florida Valencia orange grove, the grove care costs for a specific grove site may
differ depending upon the grove practices performed; e.g., a Temik application would add $131.11 per acre; extensive tree loss due to blight or tristeza would double the tree replacement and care
costs; travel and set-up costs may vary due to size of citrus grove and distance from the grove equipment barn.
bOn-tree price per box is preliminary; assumes price for processed oranges only.

'Assumes material custom applied; therefore, a 10 percent handling and supervision charge is added to material cost.
dOther methods to estimate a management cost--e.g., 5% of gross revenue or 10% of total grove care costs--are used in the industry. Other selected methods will give a different return to land
and trees than reported here.
'Other cost items which are not included in the budget are ad valorem taxes and interest on grove investment. In addition to these cost items, overhead and administrative costs, such as water
drainage/district taxes, crop insurance, and other grower assessments, can add up to 12 percent to the total grove care costs. These costs vary from grove to grove depending on age, location, and
time of purchase or grove establishment.
'Assumes 6.7 pounds solids per box and $2.348 pick and haul cost per box (including canker decontamination costs) and Department of Citrus advertising assessment of $0.165 per box.










Table 4. Estimated total delivered-in cost for Central Florida (Ridge) Valencia oranges grown for the processed market under three cultural cost
programs, 2004-05

Processed Valencia Orange Processed Valencia Orange Fresh/Processed Valencia Orange
Represents a mature (10+ years old) Processed Valencia Orange
Low Cost Historical Cost
Central Florida (Ridge) Orange Grove L o Cultural Programal o
Cultural Program Cultural Program

$/Acre $/Box $/P.S. $/Acre $/Box $/P.S. $/Acre $/Box $/P.S.

Total Production/Cultural Costs $ 756.81 2.266 $0.3382 $ 847.43 $2.537 $0.3787 $985.77 $2.951 $0.4405

Interest on Operating (Cultural) Costs 20.81 0.062 0.0093 23.30 0.070 0.0104 27.11 0.081 0.0121

Management Costs 48.00 0.144 0.0214 48.00 0.144 0.0214 48.00 0.144 0.0214

Taxes/Regulatory Costs:
Property Tax and Water Management Tax 61.87 0.185 0.0276 61.87 0.185 0.0276 61.87 0.185 0.0276
Canker Decontamination Costs 5.52 0.017 0.0025 5.52 0.017 0.0025 5.52 0.017 0.0025

Total Direct Grower Costs $ 893.01 $2.674 $0.3991 $ 986.12 $2.952 $0.4407 $1,128.26 $3.378 $0.5042

Interest on Average Capital Investment Costs 321.22 0.962 $0.1435 321.22 0.962 0.1435 321.22 0.962 0.1435

Total Grower Costs $1,214.22 $3.635 $0.5426 $1,307.34 $3.914 $0.5842 $1,449.48 $4.340 $0.6477

Harvesting and Assessment Costs:
Pick/Spot Pick, Roadside & Haul and
Canker Decontamination Costs 784.23 2.348 0.3504 784.23 2.348 0.3504 784.23 2.348 0.3504
DOC Assessment 55.11 0.165 0.0246 55.11 0.165 0.0246 55.11 0.165 0.0246

Total Harvesting and Assessment Costs 839.34 2.513 0.3751 839.34 2.513 0.3751 839.34 2.513 0.3751

Total Delivered-in Cost $2,053.57 $6.148 $0.9177 $2,146.68 $6.427 $0.9593 $2,288.82 $6.853 $1.0228

Refer to cultural program
Refer to cultural program Refer to cultural program shown
P.S. = Pound Solids shown in Table 11-A. i T .
in Table 11-A.
Refer to cultural program shown
Yield: 333 boxes/acre @ 6.7 P.S. per box Only summer oil sprays with in Table 3.
Only summer oil sprays with in Table 3.
A Fall Miticide Spray added to the
112 trees per acre oil, copper and Agri-mek & cultural program shown in Table 3.
Nutritionalscultural program shown in Table 3.
Nutritionals.













Table 5.--Estimated annual per acre costs and returns and 5-year average costs and returns for a mature, Valencia orange grove producing citrus
for processing in the Central Florida area, 2000-01-2004-05


On-tree Gross Total grove Total specified Net return to land,
Year price/box" Yield revenue care expenses costsf trees, and ownership

--------------------------------------Dollars---- -------------------

2000-01 $3.70 436d 1,613.20 758.85e 806.85 806.35


2001-02 $4.17 446 1,859.82 767.77 815.77 1,044.05


2002-03 $3.80 446 1,694.80 777.69 825.59 869.21


2003-04 $3.67 476c 1,746.92 774.18 822.18 924.74


2004-05 $4.28b 333d 1,425.24 847.43 895.43 529.81


5-yr. avg. $3.93 427 1,678.11 785.19 833.19 844.92


'On-tree prices for processed oranges only as reported by the Florida Agricultural Statistics Service.
bPreliminary estimate at time of printing published by FASS.

CHigher per acre yield is due to increased statewide production of Valencia oranges in 2003-04 season.
dThe severe drought affected yields for the 2000-01 season and three hurricanes reduced yields 25% in 2004-05.

eBegan using two summer oil sprays (one with nutritional) in budget estimates.

fA management cost of $4.00 per acre per month is included. Fixed costs such as taxes, debt service, and crop insurance are not included.














Table 6.--Estimated annual per acre costs and returns and 5-year average costs and returns (adjusted to 2005 dollars) for a mature, Valencia
orange grove producing citrus for processing in the Central Florida area, 2000-01-2004-05


Adjusted
Inflation on-tree Gross Total specified Net return to land,
Year factor index" price/box Yield revenue costs trees, and ownership

------------------------------ Dollars -------------------------

2000-01 117.9 $4.37 436 1,905.32 951.28 954.04


2001-02 120.7 $5.04 446 2,247.84 984.64 1,263.20


2002-03 114.6 $4.36 446 1,944.56 946.13 998.43


2003-04 107.9 $3.96 476 1,884.96 887.14 997.82


2004-05 100.0 $4.28 333 1,425.24 895.43 529.81


5-yr. avg. $4.41 427 1,883.07 932.93 950.14


'Producer price index for each year adjusted to 2005 prices (2005 100), with 2005 producer price index estimated to be 158.2. Producer
price index for other years are: 2001 134.2; 2002 131.1; 2003 138.1; and 2004 146.7.

bA management cost of $4.00 per acre per month is included. Fixed costs such as taxes, debt service, and crop insurance are not included.
(Refer to Table 5.)







10

REFERENCES


1. Preliminary Citrus Summary 2004-05. Florida Agricultural Statistics Service. Florida Agricultural
Statistics.

2. Muraro, Ronald P. "A Listing of Estimated Comparative Central Florida (Ridge) Citrus Production
Costs Per Acre for 2004-05." Lake Alfred Citrus Research and Education Center (CREC) Report. Lake
Alfred, FL: August 2005.

3. __ _. "Estimated Cost of Planting and Maintaining a Reset Citrus Tree through Three Years of Age."
Lake Alfred CREC Report. Lake Alfred, FL: July 2004.

4. ____. "A Listing of 2005 Custom Rates Reported by Twenty-Five Ridge Citrus Caretakers." Lake
Alfred CREC Report. Lake Alfred, FL: July 2005.

5. Savage, Zach. Citrus Yields Per Tree Age. Univ. of Fla. Agr. Ext. Ser. 60-8. Gainesville: 1960.

6. Timmer, L. W. (Ed.). 2005 Florida Citrus Pest Management Guide. Univ. of Fla. Coop. Ext. Svc. SP
43. Gainesville: Jan. 2005. 150 p.

7. Tucker, D. P. H., A. K. Alva, L. K. Jackson, and T. A. Wheaton (Eds.). Nutrition of Florida Citrus
Trees. Univ. of Fla. Coop. Ext. Svc. SP 169. Gainesville: 1995. 61 pp.











ADDENDA: Listing of Grove Care Programs for Central Florida Citrus Production for Both Round
Oranges and Grapefruit'
Page

Table 1-A Spray program s ........................................................ 12
Post bloom spray ....................................................... 12
Sum m er spray ................................................. ....... 13
Fall spray .................................................... ..... ... 14

Table 2-A H erbicide ........................................................... 15

Table 3-A Dry fertilizer ..................................... .................... 16

Table 4-A. Liquid fertilizer (Double boom application) .................................. 17

T able 5-A N em aticides ........................................................... 17

Table 6-A Soil am endm ent ........................................................ 18

Table 7-A Irrigation--annual cost per acre ............................................ 18
Perm anent overhead ..................................... ................ 18
M icrosprinkler ......................................................... 18

Table 8-A. A listing of 2005 custom rates reported by twenty-five Ridge citrus caretakers ....... 19

Table 9-A. 2005 summary of average chemical price estimates ............................ 21

Table 10-A. 2005 summary of average fertilizer price estimates ............................. 23

Table 11-A. A listing of estimated comparative Central Florida (Ridge) citrus production
costs per acre for 2004-05 ................................................ 25

Table 12-A. Estimated cost of planting and maintaining a reset citrus tree through three years
of age, July 2004 ...................................................... 26

Table 13-A. Estimated average picking, roadsiding and hauling charges for Florida citrus,
2 0 0 4 -0 5 . . . . . . . . . . . . . . .. .. 2 7

Table 14-A. Estimated average packing charges for Florida citrus, 2004-05 ................... 28

Table 15-A. Historic prices for selected citrus varieties ................................... 29

Table 16-A. Debt which can be supported per $1,000.00 annual payment capacity .............. 30

Abbreviations for important chemicals are:
B Boron Fe Iron Mn Manganese Zn Zinc
Cu Copper Mg Magnesium N Nitrogen

"The costs in the ADDENDA represent a custom managed operation. Therefore, all equipment costs
are based upon the average custom rate costs and a 10 percent handling and supervision charge is
added to the material cost.










Table 1-A.--Spray programs


POST BLOOM SPRAY


Spray Program #1


Spray Program #2

(Scab/melanose)


Spray Program #3


Spray Prograi


Materials/Ingredients

Oil 97+%
Cu (50% metallic)
Zn
Mn

Ground Application
(PTO driven airblast)

Total per Application


Materials/Ingredients

Cu (50% metallic)
Zn
Mn
Micromite 25WP

Ground Application
(PTO driven airblast)

Total per Application


Materials/Ingredients

Cu (50% metallic)
Agri-Mek

Ground Application
(engine driven airblast)

Total per Application


Amount
/Acre

5 gals
10 lbs
5 lbs
10 lbs

125 gals


Cost/Acre

$12.30
5.60
4.60
3.60

24.15


Your
Cost/Acre


$60.25


Amount
/Acre

10 lbs
5 lbs
10 lbs
1.25 lbs

125 gals


Cost/Acre

$15.60
4.60
3.60
42.65

24.15


Your
Cost/Acre


$90.60


Amount
/Acre

15 lbs
10 ozs

250 gals


Cost/Acre

$ 23.40
48.60

30.30


Your
Cost/Acre


$102.30


Amount
m #4 Materials/Ingredients /Acre Cost/Acre

Vendex 50WP 2 lbs $32.70
Zn 5 lbs 4.60
Mn 10 lbs 3.60

Ground Application 125 gals 24.15
(PTO driven airblast)

Total per Application $65.05


Your
Cost/Acre


-------------------------------------------------------------------------------------------------


-------------------------------------------------------------------------------------------------











Table 1-A.--Spray programs (cont'd.)

POST BLOOM SPRAY (cont'd.)


Spray Program #5

(Scale insects)


Materials/Ingredients

Lorsban 4EC

Ground Application
(engine driven airblast)


Amount
/Acre

5 pts

500 gals


Cost/Acre

$23.50

32.25


Your
Cost/Acre


Total per Application $55.75




SUMMER SPRAY


Spray Program #6


Spray Program #7


Spray Program #8


Materials/Ingredients

Oil 97+%
Cu (50% material)
Micromite

Ground Application
(PTO driven airblast)

Total per Application


Materials/Ingredients

Oil 97+%
Agri-Mek
Cu (50% material)

Ground Application
(engine driven airblast)

Total per Application


Materials/Ingredients

Oil 97+%
Micromite
Cu (50% material)

Ground Application
(PTO driven airblast)

Total per Application


Amount
/Acre

5 gals
7 lbs
1.25 lbs

250 gals


Your
Cost/Acre


Cost/Acre

$12.30
10.92
42.65

30.30


$96.17


Amount
/Acre

5 gals
10 ozs
7 lbs

250 gals


Your
Cost/Acre


Cost/Acre

$ 12.30
48.60
10.92

30.30


$102.12


Amount
/Acre

5 gals
1.25 lbs
7 lbs

125 gals


Your
Cost/Acre


Cost/Acre

$12.30
42.65
10.92

24.15


$90.02


-------------------------------------------------------------------------------------------------


-------------------------------------------------------------------------------------------------


-------------------------------------------------------------------------------------------------










Table 1-A.--Spray programs (cont'd.)

SUMMER SPRAY (cont'd.)


Spray Program #9


Materials/Ingredients

Oil 97+%

Ground Application
(engine driven airblast)


Total per Application $47.52


Spray Program #10


FALL SPRAY


Spray Prograr


Spray Prograr


Materials/Ingredients

Cu (50% metallic)

Oil 97+%

Zn

Mn

B

Ground Application
(PTO driven airblast)

Total per Application


Amount
/Acre

7 lbs

5 gals

5 lbs

10 lbs

0.25 lbs

125 gals


Cost/Acre

$10.92

12.30

4.60

3.60

1.34

24.15


$56.91


Amount
m #11 Materials/Ingredients /Acre Cost/Acre

Vendex 50WP 2 lbs $32.70

Ground Application 125 gals 24.15
(PTO driven airblast)

Total per Application $56.85

Amount
n#12 Materials/Ingredients /Acre Cost/Acre

Microthiol 15 lbs $11.55

Ground Application 125 gals 24.15
(PTO driven airblast)

Total per Application $35.70


Amount
/Acre

7 gals

250 gals


Your
Cost/Acre


Cost/Acre

$17.22

30.30


Your
Cost/Acre


Your
Cost/Acre


Your
Cost/Acre










Table 2-A.--Herbicide


Amount/


Herbicide Pro

(Strip/band)


Herbicide Pro

(Strip/band)


Herbicide Pro

(Strip/band)


Cost/


gram #1 Materials Treated Acre Grove Acrea

Solicam 80 DF 3 lbs $23.51
Karmex WP 4 lbs 8.52
Roundup Ultra Max 2 qts 8.02

Ground Application 14.00
(1 time)

Total for 1 Application $54.05

Amount/ Cost/
gram #2 Materials Treated Acre Grove Acre"

Mandate 2 pts $22.85
Direx 4L 3 qts 6.84
Roundup Ultra Max 2 qts 8.02

Ground Application 14.00
(1 time)

Total for 1 Application $51.71

Amount/ Cost/
gram #3 Materials Treated Acre Grove Acrea

Karmex WP 4 lbs $ 8.52
Roundup Ultra Max 2 qts 8.02

Ground Application 14.00
(1 time)


Total for 1 Application

Amount/
Herbicide Program #4 Materials Treated Acre GI

(Strip/band) Roundup Ultra Max 2 qts

Ammonium Sulfate 17 lbs


Ground Application
(1 time)


Herbicide Pro

(Strip/band)


Total for 1 Application $23.51

Amount/ Cost/
gram #5 Materials Treated Acre Grove Acre"

Roundup Ultra Max 2 qts $ 8.02
Princep (Caliber 90) 4 lbs 7.24

Ground Application 14.00
(1 time)

Total for 1 Application $29.26


Your Cost/
Grove Acre


Your Cost/
Grove Acre


Your Cost/
Grove Acre


$30.54

Cost/
ove Acre"

$ 8.02

1.49

14.00


Your Cost/
Grove Acre


Your Cost/
Grove Acre










Table 2-A.-Herbicide (cont'd.)


Herbicide Program #6
(Strip/band)


Materials
Direx 4L
Solicam
Roundup Ultra Max
Ground Application
(1 time)


Total for 1 Application $52.37


Herbicide Program #7
(Spot herbicide for
grass/brush regrowth
under trees.)


Materials
Roundup Ultra Max

Ground Application
(1 time)
Total for 1 Application


Amount/
Treated Acre
2 qts

15 gals


"With respect to herbicide materials, Amount Per Grove Acre does not equal Amount Per Treated Acre
shown on the label. Only a strip or band is being treated. In this report, it is assumed that only one-half of a
grove surface is being treated.



Table 3-A.--Dry fertilizer


Program #1
(162 lbs N/Acre)


Analysis/Material
Applied
12-2-12-2.4 MgO


Application 3 times 26.91
Total for 3 Applications $178.11


Program #2
(180 lbs N/Acre)


Analysis/Material
Applied
16-0-16-4 MgO


Application 3 times 26.91
Total for 3 Applications $175.41


Program #3
(204 lbs N/Acre)


Analysis/Material
Applied
16-0-16-4 MgO


Application 3 times 26.91
Total for 3 Applications $195.21


Program #4
(225 lbs N/Acre)


Analysis/Material
Applied
15-2-15-2.4 MgO
Application
Total for 3 Applications


Amount/
Treated Acre
3 qts
3 lbs
2 qts


Your Cost/
Grove Acre


Cost/
Grove Acre'
$ 6.84
23.51
8.02
14.00


Your Cost/
Grove Acre


Cost/
Grove Acre"
$ 8.02

7.32

$15.34


Amount
/Acre
1350 lbs


Cost/Acre
$151.20


Your
Cost/Acre


Amount
/Acre
1125 lbs


Cost/Acre
$148.50


Your
Cost/Acre


Amount
/Acre
1275 lbs


Cost/Acre
$168.30


Your
Cost/Acre


Amount
/Acre
1500 lbs
3 times


Your
Cost/Acre


Cost/Acre
$187.50
26.91
$214.41










Table 4-A.--Liquid fertilizer (Double boom application)

Analysis/Material Amount
Program #1 Applied /Acre Cost/Acre

(180 lbs N/Acre) 10-0-10 1800 lbs $167.40

Double Boom Application 3 times 47.22

Total for 3 Applications $214.62


Analysis/Material Amount
Program #2 Applied /Acre Cost/Acre

(180 lbs N/Acre) 10-2-10 1800 lbs $176.40

Double Boom Application 3 times 47.22

Total for 3 Applications $223.62


Program #3

(180 lbs N/


Analysis/Material Amount
Applied /Acre Cost/Acre

cre) 10-0-10 1800 lbs $167.40
Solicam 80 DF 3 lbs* 23.51
Karmex WP 4 lbs* 8.52

Double Boom Application 3 times 47.22

Total for 3 Applications $246.65


*Treated acre (one herbicide application)


Table 5-A.--Nematicides


Analysis/Material Amount
Applied /Acre Cost/Acre

Temik 15G 33 lbs $116.16

Application 14.95

Total per Application $131.11


Analysis/Material
Applied

Temik 15G


Amount
/Acre

17 lbs


Cost/Acre

$59.84


Application 14.95

Total per Application $74.79


Your
Cost/Acre


Your
Cost/Acre


Your
Cost/Acre


Program #1


Program #2


Your
Cost/Acre


Your
Cost/Acre










Table 6-A.--Soil amendment


Program #1

(Every 3 years)


Analysis/Material
Applied

Dolomite (Delivered)


Application 1 time 9.39

Total for 1 Application $45.44

(Average 1/3 Ton Applied/Yr) $15.15


Program #2

(Every 4 years)


Analysis/Material
Applied

Dolomite (Delivered)


Application

Total for 1 Application

(Average 1/4 Ton Applied/Yr)


Amount
/Acre

1 ton

1 time


Cost/Acre

$36.05

9.39

$45.44

$11.36


Table 7-A.--Irrigation--annual cost per acre


PERMANENT OVERHEAD


Operating


Maintenance

Total Cash

Fixed Depre

Total Cash


Your
Program #1 Cost/Acre Program #2

(Electric) (Diesel)
$146.69 $119.15

of System 44.98 47.17

Expenses $191.67 ______ $166.33

ciation Expense 55.73 __ 59.54

and Fixed Expenses $247.40 $222.06


MICROSPRINKLER


Operating


Maintenance of System

Total Cash Expenses

Fixed Depreciation Expense

Total Cash and Fixed Expenses


Program #3

(Electric)
$ 70.60*

49.08

$119.68

52.94

$172.62


Your
Cost/Acre


Program #4

(Diesel)
$ 59.44*

50.17

$109.61

56.56

$166.17


*Reflects the higher cost of fuel; diesel and electricity.


Amount
/Acre

1 ton


Cost/Acre

$36.05


Your
Cost/Acre


Your
Cost/Acre


Your
Cost/Acre


Your
Cost/Acre










Table 8-A.--A listing of 2005 custom rates reported by twenty-five Ridge citrus caretakers

Range of Rate Average
Grove Practice Unit Reported Ratey Comments


CULTIVATION AND EQUIPMENT:
Labor
Mechanic Labor
Rotovate
Disc 7'
Disc 9'-10'
Disc 9'-10'
Chop
Chop
Mow 5'-7'
Mow 9'-12'
Mow 5'-7'
Mow 9'-12'
Mow 15'-16'
Herbicidez (Strip/Band--Single Boom)
Herbicidez (Strip/Band--Single Boom)
Herbicidez (Strip/Band--Double Boom)
Herbicidez (Chemical Mow)
Temikz
Plow
Deviner
Bush Hog
Backhoe
Pickup Truck with Driver
Pickup Truck w/out Driver
Flatbed Transport Truck with Driver
Low-Boy Transport
Tractor with Driver
Water/Supply Truck
ATV with Driver

SPRAYING:"





500 GPA
250 GPA
125 GPA
100 GPA
50 GPA
Aerial (Bell-47 Helicopter)

FERTILIZE AND SOIL AMENDMENTS:z
Inject Liquid Fertilizer into Irrigation System
Inject Liquid Fertilizer into Irrigation System
Liquid Boom Application: Double Boom
Dry (Bulk)
Lime or Dolomite
Lime or Dolomite
Fertilize Young Trees:z Hand Spread
Fert. Spreader
Airblast Spreader with Gator for Resets
IRRIGATION:
Microsprinkler
Microsprinkler
ATV with Driver
Ring Young Trees: Hand Labor
Mechanical


Hour
Hour
Hour
Hour
Hour
Acre
Hour
Acre
Hour
Hour
Acre
Acre
Acre
Hour
Acre
Acre
Acre
Acre
Hour
Hour
Hour
Hour
Hour
Hour
Hour
Hour
Hour
Hour
Hour


$10.50-
25.00-
30.00-
30.00-
30.00-
9.00-
30.00-
7.50-
31.10-
34.90-
8.00-
8.00-
10.00-
31.50-
12.00-
12.00-
6.00-
14.00-
25.00-

32.50-
42.50-
25.00-
15.00-
28.50-
50.00-
27.00-
28.00-
20.00-


$15.00
45.00
45.00
40.00
40.00
11.00
45.00
11.00
40.00
40.00
11.25
12.75
12.75
35.00
17.50
15.50
9.75
16.00
35.00

42.50
75.00
35.00
20.00
50.00
65.00
35.00
40.00
26.50


$13.43
35.05
36.90
33.78
33.22
10.08
33.35
9.41
35.27
35.97
9.95
10.57
11.43
33.50
14.58
14.00
7.63
14.95
31.25
42.00
37.07
49.50
28.99
18.73
36.65
55.00
30.42
32.15
24.47


Plus transportation
Includes truck



One-way discing; Disc 7': $8.77/acre








Plus materials
Plus materials
Plus materials; Avg. $40.16/hour
Plus materials
Plus materials


One reporting $13.00/acre

Average miles/year/pickup: 23,400

Average miles/year: 24,803
Average miles/year: 30,000


PTO AIR BLAST SPRAYER
1,000 Gallon Tank with 1,000 Gallon Tank without
Electronic Sensing Electronic Sensing

Low High Average Low High Average


Acre 40.00 28.00- 36.00
Acre 29.00- 35.00 31.94 25.00- 35.00
Acre 27.00- 33.00 28.49 22.50- 27.00
Acre 24.00- 25.00 24.34 22.50- 25.00
Acre 18.50- 22.50
$12.00 @ 5 GPA; $16.50 @ 10 GPA; $18.50 @ 15 GPA; $25.00 @ 20 GPA


Hour $32.50- $50.00
Acre 1.75- 3.50
Acre 14.75- 17.00
Acre 7.00- 11.00
Acre 8.50- 10.75
Ton 7.50- 9.20
Hour 10.50- 15.00
Hour 30.00- 40.00
$30.00/hour; $3.00/acre


$37.36
2.74
15.74
8.97
9.39
8.15
13.43
32.50


Avg. $3.47/acre; Avg. $37.50/month
Hour 25.00- 35.00 28.88
Hour 20.00- 26.50 24.47
Hour 10.50- 15.00 13.43
Hour 25.00- 27.50 26.42


32.25
30.30
24.15
22.64
20.45


Truck plus labor
Average iS,, o, ,1 i,,I, ,,jC .. ,, .)okup





Plus transportation and materials
Plus materials; Average $8.28/acre



Start/stop and supervision
Start/stop and supervision; truck and driver
Check/repair microsprinkler irrigation system-plus materials
Plus transportation
Labor and equipment


(OVER)











Table 8-A.--A listing of 2005 custom rates reported by twenty-five Ridge citrus caretakers (cont'd.)

Range of Rate Average
Grove Practice Unit Reported Ratey Comments


REMOVING TREES:
Tree Shearing (Cutting Tree at Ground Level)
Front-end Loader
Bulldozer
Front-end Loader with Tree Spade

PRUNING:
Power Saw with Operator
Limb Lifter/Tree Skirt Trimmer (Double Sided)
Hedging:
Double Side (Tractor Pulled)
Double Side (Tractor Mounted)
Single Side (Self Propelled)
Double Side (Self Propelled)'
Double Side (Self Propelled)'
Topping:
Tractor Pulled
Tractor Pulled
Self Propelled
Self Propelled
Removing Brush:
Haul Brush out of Grove
Front-end Loader (Push Brush)
Chop/Mow Brush

COLD PROTECTION:
Mechanical (Bank and Unbank)
Install Wraps
Annual Maintenance Costs

OTHER CUSTOM RATES:
Plant Resets
Solid Set Planting
Travel/Setup Charge
Grove Management Charge/Month:
Supervising Grove Care Operations
Handling Fruit Marketing
Supervising/Handling Chemicals/Fertilizer


Hour
Hour
Hour
Hour


Hour
Hour

Hour
Hour
Hour
Hour
Hour

Hour
Hour
Hour
Hour

Hour
Hour
Hour


Hour
Each
Tree


Per Tree
Per Tree
Hour


$50.00- $70.00 $61.25
50.00- 65.00 57.63
50.00
65.00


Average trees sheared: 5 to 20 trees/hour
Average trees removed: 5 to 15 trees/hour


$17.00- $27.25 $ 21.08 Plus transportation; Average $7.00/hour without operator
180.00 Cover 8-12 acres one pass


85.00- 100.00 91.32
280.00
65.00- 77.00 71.00
330.00- 340.00 336.25
190.00- 250.00 216.67

280.00
105.00
375.00- 418.00 396.50
190.00- 250.00 230.00


32.50-
50.30-
31.00-


47.00
65.00
47.25


40.63
58.43
36.62


Cover 3-5 acres/hour


Cover 10-25 acres/hour depending on wood size
Cover 4-12 acres/hour depending on wood size

Cover 5-7 acres/hour
Cover 1-3 acres/hour
Cover 5-10 acres/hr (Roof Top); 5-20 acres/hr (Flat Top)


Tractor-trailer/truck; plus 2 people
2-10 acres/hour
3-6 acres/hour; Average $11.63/acre


$ $ $28.75
0.35- 0.50 0.43
0.30- 0.50 0.37


$ 2.00-
1.50-


$3.00 $ 2.55
1.75 1.55
33.33


Stake, plant and first watering
Stake, plant and first watering
Average for those reporting


Acre 2.00- 6.00 3.38 In addition to caretaking charges; One reporting 6% of
Box 0.10- 0.30 0.17 \equipment labor charge
15% to 25% of materials cost


Charge for personnel to oversee harvesting
operations and coordinate harvest in
different blocks/groves and keeping of
harvesting labor compliance record.


100/box to 200/box; average 140/box


Note: One reporting adding a 5% fuel surcharge on all
billed equipment charges.


Consulting


Total Reported Acreage Provided Grove
Service to:


Cultural Management/Horticultural Evaluation $50/hr to $300/hr
Financial Analysis Prospectus $100/hr to $300/hr


Acre 800- 15,603 3,445 Total acres reporting: 68,895


Source: Ronald P. Muraro, Extension Farm Management Economist, Lake Alfred CREC, July 2005.


z Plus materials. Caretakers reporting rates include labor, tractor and sprayer; supply truck included by most caretakers.
Y Calculated by dividing the total number of caretakers reporting a grove practice rate into the sum reported. Unless otherwise stated, labor included
with all charges.
'Low acres is for 2 years regrowth hedging; high acres is for annual maintenance hedging.








Table 9-A.--2005 summary of average chemical price estimates


Your Price
(2005)


Item
Fungicides: Abound EC
Aliette 80WP
Basic Copper Sulfate
Copper (Kocide 101)
Copper (Kocide 2000)
Copper (Champ II Flowable)
Cuprofix Disperss
Nu-Cop 50 DF
Enable
Gem 25
Headline EC
Oil 435 or 455
Oil 470 (Bio-lever)
Ridomil Gold EC
Safe-T-Oil
Topsin
Insecticides/Nematicides:
Admire 2F
Agri-Mek (0.15EC)
Award Fire Ant Bait
Bio-Vector
Carbaryl 4L
Carbaryl 80S
Chlorpyrifos 4E
Danitol
Guthion 2L
Guthion 50WP
Imidan 70W (Diaprepes)
Lorsban 4EC
Lorsban 15G
Malathion 5 EC
Micromite 80 WG
Microthiol
Nexter 75WP
Provado 1.6 F (nursery)
Sevin 80S
Sevin XLR
Spintor 2 S C
Sulphur 6F
Temik 15G
Vendex 50W
Vvdate


Unit
gal.
lb.
lb.
lb.
lb.
gal.
lb.
lb.
gal.
40 ozs.
gal.
gal.
gal.
gal.
gal.
lb.

gal.
gal.
lb.
gal.
gal.
lb.
gal.
gal.
gal.
lb.
lb.
gal.
lb.
gal.
gal.
lb.
lb.
gal.
lb.
gal.
gal.
gal.
lb.
lb.
sal.


Average
Price
218.12
11.59
1.40
1.80
2.33
22.55
1.75
1.88
57.55
120.59
206.13
2.21
2.46
649.15
3.15
14.08

520.28
563.52
9.01
412.50
27.25
4.47
57.26
147.58
32.48
10.07
8.25
34.15
1.72
25.18
87.95
0.70
89.56
417.75
5.17
30.96
492.50
4.00
3.20
14.86
56.28


Your Price
(2005)









Table 9-A.--2005 summary of average chei


Item


nical price estimates (cont'd.)
Average Your Price
Unit Price (2005)
gal. 48.39
gal. 16.04
gal. 16.50
lb. 3.87
gal. 131.14


Herbicides: Aqua Master
Diuron 4L
Direx 4L
Direx 80 DF
Fusilade DX 2E
Glyphosate:
Glyphomax Plus
Roundup (Original)
Roundup Ultra Max
Roundup Weather Max
Roundup Original Max
Touchdown
Gramoxone E (Paraquat)
Hyvar X 80 WP
Karmex 80 DF
Krovar I
Landmaster II
Mandate 2E
Pendimax
Poast Plus 1.0 EC
Princep (Caliber 90)
Princep 4L
Prowl
Simazine 90 DF
Simazine 4L
Solicam 80 DF
Simtrol
Surflan
Growth Regulators:
Citrus Fix
Pro-Gibb 3.91%
Tree-Hold
Other Spray Materials:
Borates (15%)
Manganese (32%)
Zinc (78%)
Adjuvant (Surfactant)


gal.
gal.
gal.
gal.
gal.
gal.
gal.
lb.
lb.
lb.
gal.
gal.
gal.
gal.
lb.
gal.
gal.
lb.
gal.
lb.

gal.

gal.
20 oz. bottle
gal.

lb.
lb.
lb.
gal.


SOURCE: Ronald P. Muraro, Extension Farm Management Economist, University of
Florida, IFAS, CREC, Lake Alfred, Florida, August 2005.


18.22
23.60
29.12
50.16
43.50
37.05
37.53
18.93
3.87
11.38
18.66
166.09
24.37
52.50
3.29
14.51
22.12
2.80
13.66
14.24
19.00
81.64

494.00
33.16
79.17

0.70
0.32
0.83
23.59









Table 10-A.--2005 summary of average fertilizer price estimates


Average Your Price
Item Unit Price (2005)


FERTILIZER (FOB Price @ Plant)
$
Dry Mix (Bulk)
17-0-17-3M ton 238.82
17-4-17-2.4Mg ton 243.35
16-0-16 ton 218.35
16-0-16-4Mg ton 239.49
16-2-16-3Mg ton 240.45
15-2-15-2.4Mg ton 224.47
12-2-12-2.4Mg ton 201.02
8-8-8 w/minors* ton 182.90
8-4-8 w/minors* ton 170.29
8-2-8 w/minors* ton 162.12
6-6-6 w/minors* ton 159.99

Liquid Mix (Bulk)
8-2-8 ton 151.53
8-4-8 ton 159.73
9-3-9 ton 166.33
9-4-9 ton 172.47
10-0-10 ton 166.62
10-2-10 ton 176.25
12-0-6 ton 166.89
12-3-6 ton 180.25
7-0-0-6 (Magnesium Nitrate) ton 218.00


*With organic nitrogen, the price averaged 25% higher.









Table 10-A.--2005 summary of average fertilizer price estimates (cont'd.)


Average Your Price
Item Unit Price (2005)

Other Fertilizer Materials (Bulk)
Ammonium Nitrate (21% N Liquid) ton 179.88
Ammonium Nitrate (33.5% N Dry) ton 259.38
Ammonium Sulfate (21% N) ton 152.94
Calcium Nitrate (19% Ca, 15.5% N) ton 288.13
Dolomite (at mine--49% CaCO3, 36% MgCO3) ton 19.75
Muriate of Potash (60% K2O) ton 242.29
Potassium Nitrate (14% N; 46% K2O) ton 453.57
Sul-Po-Mag (SPM--21.9% K20) ton 202.43
Super Phosphate (20% P2O5) ton 214.25
Triple Superphosphate (48% P2O5) ton 242.92
Average Delivery Cost ton 14.32

Foliar Macronutrients
Phos Might 0-22-20 gal. 24.29
Nutriphite Magnum 2-40-16 gal. 35.00
MKP (0-52-34) (Mono-Potassium Phosphate) lb. 0.80
RSA ActaPhos 0-28-25 gal. 18.00
Peter's 20-20-20 Foliar lb. 0.54
MZF gal. 6.53
Slow Release Nitrogen (SRN)
CitriBlen
15-3-19 ton 245.15
17-5-12 ton 237.50
18-6-11 ton 243.80
Sulfur Coated Urea (SCU) ton 586.80
Agriform 20-10-5 (500 tablets/box) box 40.00


SOURCE: Ronald P. Muraro, Extension Farm Management Economist, University of
Florida, IFAS, CREC, Lake Alfred, Florida, August 2005.










Table 11-A.--A listing of estimated comparative Central Florida (Ridge) citrus production costs per acre for oranges, 2004-2005z
Low Cost Processed Processed and Typical/Historical
Costs represent a mature (10+ years old)
Cots represent a mare (+ years o) Cultural Program Reduced Fresh Cost Fresh Fruit
Central Florida (Ridge) Orange Grove.
One-Year Alternative Cultural Program Cultural Program
PRODUCTION/CULTURAL COSTS:'
Weed Management/Control:
Discing (2 times per year) $ 20.16 $20.16 $ 20.16
Mechanical Mow Middles (4 times per year) 42.28 42.28 42.28
General Grove Work (2 labor hours per acre) 26.86 26.86 26.86
Herbicide (1/2 tree acre treated):
Application (4 glyphosate or 2 residual applications) $56.00 $28.00 $28.00
Material 32.08 77.76 77.76
Spot Treatment (Material/application) 15.34 15.34
Total Herbicide Cost 88.08 121.10 121.10
Spray:
Summer Oil #1 (Processed @ 125 GPA) or
Post Bloom (Fresh @ 150 GPA):
Application 24.15 24.15
Material _- 65.87 66.45
Total Summer Oil #1 or Post Bloom Cost 90.02 90.60
Summer Oil #2: Application (PTO 125 GPA) 24.15 24.15 30.30
Material 75.41" 32.76 71.82
Total Summer Oil #2 Cost 99.56 56.91 102.12
Supplemental Fall Miticide:
Application (PTO 150 GPA) 24.15
Material 11.55
Total Supplemental Fall Miticide Cost 35.70
Fertilizer (Bulk): 3 Applications 26.91 26.91 26.91
Material (16-0-16-4 MgO @ 204 lbs N
per acre) 168.30 168.30 168.30
Total Fertilizer Cost 195.21 195.21 195.21
Dolomite (one ton applied every 4 years)
Material/Application 11.36 11.36 11.36
Pruning: Topping ($39.65/A + 2.5 yrs)' 15.86 15.86 15.86
Hedging ($33.63/A 2 yrs)' 16.82 16.82 16.82
Chop/Mow Brush after Hedging ($9.70/A+2 yrs)' 4.87 4.87 4.87
Total Pruning Cost 37.55 37.55 37.55
Tree Replacement--1 thru 3 years of age: (3 trees/acre)
Remove Trees: Pull, Stack & Burn 3 Trees with
Front-end Loader 15.22 15.22 15.22
Prepare Site & Plant Tree (Includes 3 reset trees) 34.80 34.80 34.80
Supplemental Fertilizer, Tree Wraps Maintenance,
Sprout, Etc. (Trees 1-3 years old) 19.56 29.79 29.79
Total Tree Replacement Cost 69.58 79.81 79.81
Irrigation: Microsprinkler System" 166.17 166.17 166.17

IRRIGATED PROCESSED FRUIT PRODUCTION COSTS $756.81 $847.43

Fall Miticide: Application (125 GPA) 24.15 24.15
Material 32.70 32.70
Total Fall Miticide Cost 56.85 56.85

IRRIGATED FRESH FRUIT PRODUCTION COSTS $904.28 $985.77

zThe listed estimated comparative costs are for the example grove situation described in the Economic Information Report Series entitled:
"Budgeting Costs and Returns for Central Florida Citrus Production" and may not represent your particular grove situation in Central
Florida.


SOURCE: Ronald P. Muraro, University of Florida-IFAS, Citrus Research and Education Center, Lake Alfred, FL, August 2005.








Table 12-A.--Estimated cost of planting and maintaining a reset citrus tree through three years
of age, Central Florida area, August 2005


Resets/Replacement Trees Per Acre
1-2 3-5 6-10 11-25 26+
--------------- $ Cost Per Tree ----------------

Tree Removal 6.67 5.34 4.45 3.56 2.67

Plant Reset Tree
Tree Cost (Container Tree) 4.50 4.50 4.35 4.35 4.35
Plant Tree and First Watering (Custom Charge) 2.93 2.55 2.17 1.84 1.57
Total Planting Costs 7.43 7.05 6.52 6.19 5.92

Site Preparationa
Disk Tree Site 2.65 2.31 1.96 1.67 1.42
Rotovate 2.65 2.31 1.97 1.67 1.42
Total Site Preparation 5.30 4.62 3.93 3.34 2.84


Total Planting and Site Preparation Costs 12.73 11.67 10.45 9.53 8.76

Supplemental Maintenance Year#1 4.13 3.82 3.59 3.39 3.19
(Trees 1-3 years old) Year #2 3.79 3.39 2.96 2.59 2.27
(Fertilizer, Tree Wraps, Sprout, etc.) Year #3 3.07 2.73 2.34 2.01 1.73

Total Supplemental Maintenance Costs 10.99 9.94 8.89 7.99 7.19


Summary of Tree Replacement Costs 1 3 6 6 6
Tree Removal Costs 6.67 5.34 4.45 3.56 2.67
Planting and Site Preparation Costs 12.73 11.67 10.45 9.53 8.76
Supplemental Maintenance Costs (Years 1 thru 3) 10.99 9.94 8.89 7.99 7.19
Total Three-Year Cumulative Costs 30.39 26.95 23.79 21.08 18.62

aFumigate planting site would cost approximately $2.50 per tree.

Source: Ronald P. Muraro, Farm Management Economist, CREC, Lake Alfred, FL, August 2005.









Table 13-A.-- Estimated average picking, roadsiding and hauling charges for Florida citrus, 2004-05

Fresh Fruit Processed Fruit

Range Average Range Average

$/Box $/Box $/Box $/Box


Picking Charges:

Early and Mid-Season Oranges

Valencia Oranges

Pink/Red Grapefruit

White/Marsh Grapefruit

Temples/Tangelos

Tangerines

Add for Spot Picking


Roadsiding Charges:

Early and Mid-Season Oranges

Valencia Oranges

Pink/Red Grapefruit

White/Marsh Grapefruit

Temples/Tangelos

Tangerines


0.70

0.70

0.60

0.60

0.85

1.25

0.10


0.60

0.67

0.65

0.65

0.70

0.75


1.75

1.25

1.25

1.25

1.65

2.00

0.50

Fresh Fruit

Range

$/Box


- 1.15

- 1.12

- 1.03

- 1.03

- 1.35

- 1.35

Fresh Fruit

All Varieties

$/Box


0.954

0.938

0.739

0.744

1.163

1.529

0.314


Average

$/Box


0.895

0.899

0.840

0.854

1.003

1.095


0.65

0.65

0.55

0.55

0.80

1.00


- 1.05

- 1.25

- 1.25

- 1.25

- 1.50

- 1.70


0.829

0.870

0.669

0.667

1.043

1.204


Processed Fruit

Range Average

$/Box $/Box


0.65

0.65

0.65

0.65

0.75

0.85


- 1.17 0.817

- 1.17 0.836

- 1.20 0.796

- 1.20 0.789

- 1.23 0.890

- 1.70 1.054

Processed Fruit

All Varieties

$/Box


Hauling Charges:

0 30 miles

31 50 miles

51 80 miles

81 100 miles

100 + miles


0.417

0.512

0.573

0.640

0.746


0.393

0.464

0.515

0.632

0.728








Table 14-A.--Estimated Average Packing Charges for Florida Citrus, 2004-05a
Domestic Export Temples/ Tangerines
.. Oranges Tangerines
Grapefruit Grapefruit Tangelos
------------------------- $/Carton --------------------
Total Packing Chargeb 3.835 4.245 4.192 4.495 5.056
--------------------------- $/Box ----------------------
Drenching Charge 0.178 0.178 0.186 0.186 0.186
Packinghouse Elimination
Packinghouse Elimination 0.594 0.594 0.571 0.571 0.571
Charges
Hauling Charges for
0.425 0.425 0.410 0.410 0.410
Eliminations
aPacking charges represents a total of nine citrus packinghouses from both the Indian River
and Interior production regions.

bTotal Packing Charge includes the following items:


1. Materials including mesh/plastic bags, labels/Price Lookup Codes (PLUs), etc.
2. Includes supervisor/foreman labor, grading, palletizing, shipping and general labor.
Includes payroll taxes, workers' compensation, ground insurance, etc.
3. Other direct packing costs include: fruit treating; power, lights and water; repairs
maintenance; miscellaneous supplies; etc.
4. Indirect packing costs include such items as: insurance-fire and casualty; taxes and
licenses; depreciation and rent.
5. General and Administrative (G&A) costs include: office personnel (payroll taxes,
w/comp); packinghouse and general manager; office supplies; telephone; etc.
6. Selling Expenses which include sales salaries, travel, telephone and telegraph and
brokerage fees.
7. Special assessments include such items as: advertising taxes; inspection fees; a Florida
Citrus Packers tax; and a Citrus Administrative Committee (CAC) tax.

SOURCE: Ronald P. Muraro, University of Florida-IFAS, Citrus Research and Education
Center, Lake Alfred, FL, September 2005.









Table 15-A.--Historic prices' for selected citrus varieties

Variety
Ilb A


Crop year
1961-62
1962-63
1963-64
1964-65
1965-66
1966-67
1967-68
1968-69
1969-70
1970-71
1971-72
1972-73
1973-74
1974-75
1975-76
1976-77
1977-78
1978-79
1979-80
1980-81
1981-82
1982-83
1983-84
1984-85
1985-86
1986-87
1987-88
1988-89
1989-90
1990-91

1991-92
1992-93
1993-94
1994-95
1995-96

1996-97
1997-98
1998-99
1999-00
2000-01

2001-02
2002-03
2003-04
2004-05'


iary alu
mid'-season
oranges
$1.93
2.17
4.43
2.57
1.44
0.81
1.86
1.56
1.15
1.10
1.98
1.43
1.38
1.46
1.69
1.89
3.90
4.44
3.59
3.67
4.27
4.88
5.09
7.30
3.92
4.56
6.72
6.63
6.01
5.38

5.44
3.23
3.76
3.25
3.62

3.18
2.81
4.35
3.19
2.60

2.88
2.62
2.20
2.56


Late season
oranges
$1.81
3.50
4.45
2.28
1.79
1.08
2.28
1.83
1.13
1.91
2.11
1.71
1.59
1.82
1.88
2.63
4.40
4.95
3.89
4.63
4.29
5.41
6.72
6.88
3.97
6.02
8.73
8.41
6.53
6.58

6.65
3.88
4.61
4.41
5.57

4.07
4.88
5.58
4.33
4.02

4.20
3.85
3.64
4.34


"On-tree average price per box (1-3/5 bushel box equivalent) for all methods of sale minus pick and haul charges.
bNavel and Hamlin 'Parson Brown and Pineapple dValencia eMarsh (white) or pink 'Preliminary
Source: Florida Agricultural Statistics Service.


Temple
oranges
$2.17
3.09
4.45
2.77
1.80
0.88
2.79
2.22
1.47
1.91
1.95
1.95
1.64
1.68
1.79
2.16
3.92
4.89
2.89
4.21
4.01
3.99
5.34
5.59
3.01
3.60
5.69
5.46
5.64
6.31

6.51
2.99
2.73
3.47
4.44

3.22
3.07
5.12
2.55
2.05

2.19
2.01
1.07
2.48


All
Tangerines T
$2.04
3.02
3.18
2.68
2.14
1.06
4.29
2.55
2.23
1.88
2.97
2.37
2.82
3.05
3.02
3.29
4.79
4.99
4.25
5.45
6.23
7.57
5.93
15.91
12.69
10.92
12.99
12.64
15.28
17.10

18.00
13.75
9.83
11.98
12.59

7.99
8.49
12.07
6.67
6.40

7.81
8.40
7.46
12.02


angels
$3.36
4.66
4.83
4.00
2.85
1.64
3.22
2.47
1.13
1.04
1.69
1.39
1.25
1.45
1.42
1.42
3.29
3.90
2.87
3.92
3.58
4.37
4.28
7.08
4.06
3.72
5.58
6.31
5.10
6.11

7.16
3.31
2.38
2.64
3.63

2.19
1.66
4.53
2.52
1.27

2.47
2.60
7.48
2.45


Seedless grapefruit

(white) (colored)
$0.68 $0.86
1.29 1.81
2.24 2.54
1.51 1.82
1.39 1.64
0.73 0.94
2.05 2.48
0.98 1.15
1.72 1.92
1.89 2.15
2.27 2.69
2.06 2.53
1.58 2.12
1.55 2.59
1.29 2.23
1.49 2.04
1.47 2.09
2.21 3.13
3.12 3.80
3.46 4.22
1.92 2.80
1.51 3.20
2.08 4.05
3.02 4.84
3.56 4.98
4.45 5.80
5.35 5.93
4.33 4.71
5.21 6.30
4.59 6.85

6.46 6.87
2.22 3.11
3.23 3.38
2.58 1.66
2.14 1.77

1.12 1.91
0.93 1.50
1.95 2.65
3.87 3.36
2.07 2.28

1.96 2.54
1.59 2.79
1.88 3.28
11.95 13.65











Table 16-A.--Debt which can be supported per $1,000.00 annual payment capacity


Loan Interest rate paid on the loan
term
(years) 8.0% 8.5% 9.0% 9.5% 10.0% 10.5% 11.0% 11.5% 12.0% 12.5% 13.0% 13.5% 14.0% 14.5% 15.0%


926
1,783
2,577
3,312
3,993
4,623

5,206
5,747
6,247
6,710
7,139
7,536

7,904
8,244
8,559
8,851
9,122
9,372

9,603
9,818
10,675
11,258
11,655
11,925


922
1,771
2,554
3,276
3,941
4,554

5,119
5,639
6,119
6,561
6,969
7,345

7,691
8,010
8,304
8,576
8,825
9,056

9,268
9,463
10,234
10,747
11,088
11,315


917
1,759
2,531
3,240
3,890
4,486

5,033
5,535
5,995
6,418
6,805
7,161

7,487
7,786
8,061
8,313
8,543
8,756

8,950
9,129
9,823
10,274
10,567
10,757


913
1,747
2,509
3,204
3,840
4,420

4,950
5,433
5,875
6,279
6,647
6,984

7,291
7,572
7,828
8,062
8,276
8,471

8,650
8,812
9,438
9,835
10,087
10,247


909
1,754
2,487
3,170
3,791
4,355

4,868
5,335
5,759
6,145
6,495
6,814

7,103
7,367
7,606
7,824
8,022
8,201

8,365
8,514
9,077
9,427
9,644
9,779


905
1,724
2,465
3,136
3,743
4,292

4,789
5,239
5,646
6,015
6,348
6,650

6,923
7,170
7,394
7,596
7,779
7,945

8,095
8,231
8,739
9,047
9,234
9,348


901
1,713
2,444
3,102
3,696
4,230

4,712
5,146
5,537
5,889
6,207
6,492

6,750
6,982
7,191
7,379
7,549
7,702

7,839
7,963
8,422
8,868
8,855
8,951


897
1,701
2,423
3,070
3,650
4,170

4,640
5,056
5,431
5,768
6,070
6,341

6,583
6,801
6,997"
7,172
7,329
7,470

7,596
7,710"
8,123
8,364
8,503
8,587


893
1,690
2,402
3,037
3,605
4,111

4,564
4,968
5,328
5,650
5,938
6,194

6,424
6,628
6,811
6,974
7,119
7,250

7,366
7,469
7,843
8,055
8,175
8,244


889
1,679
2,381
3,006
3,561
4,054

4,492
4,882
5,228
5,536
5,810
6,054

6,270
6,462
6,633
6,785
6,920
7,040

7,146
7,241
7,579
7,766
7,870
7,928


885
1,668
2,361
2,974
3,517
3,998

4,423
4,799
5,132
5,426
5,687
5,918

6,122
6,302
6,462
6,604
6,729
6,840

6,938
7,025
7,330
7,496
7,586
7,634


881
1,657
2,341
2,944
3,475
3,942

4,355
4,718
5,038
5,319
5,568
5,787

5,979
6,149
6,299
6,431
6,547
6,649

6,739
6,819
7,095
7,242
7,320
7,361


877
1,647
2,322
2,914
3,433
3,889

4,288
4,639
4,946
5,216
5,453
5,660

5,842
6,002
6,142
6,265
6,373
6,467

6,551
6,623
6,873
7,003
7,070
7,105


873
1,636
2,302
2,884
3,392
3,836

4,224
4,562
4,858
5,116
5,341
5,538

5,710
5,861
5,992
6,106
6,207
6,294

6,370
6,437
6,663
6,778
6,836
6,866


870
1,626
2,283
2,855
3,352
3,784

4,160
4,487
4,772
5,019
5,234
5,421

5,583
5,724
5,847
5,954
6,048
6,128

6,198
6,259
6,464
6,566
6,617
6,642


"Example. Assumes a $10,000 after tax income at 11.5% interest rate and a 15-year term mortgage, the total debt which can be supported is $69,970
($6,997 x 10). At 11.5% interest rate and a 20-year term mortgage, the total debt which can be supported is $77,100 ($7,710 x 10).