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<br />~ <br />en <br />r-- <br /> <br />- 17 - <br /> <br />yearling feeder steers and heifers. <br /> <br />Net ranch income with supplemental water is increased to $8,185 from $4,887, <br /> <br />and return to operator's labor is increased to $175 from $-2,373. The net gain <br /> <br />from all changes made is indicated to be $2,548. The entire net gain probably should <br /> <br />not be attributed to the project, since it results in part from the fact that the <br /> <br />ranch was thought to be understocked in the normalized situation, but additional <br /> <br />feed production allowed for fully stocking of the rangeland. <br /> <br />Ranch II is presently operating with only 100 acres of deeded irrigated land. <br /> <br />Increasing the acreage of deeded irrigated land to 400 acres brings total of irri- <br /> <br />gated land, both deeded and leased, up to 560 acres. The additional feed production <br /> <br />and pasture base allows for an increase of the cow herd to 290 head and for fattening <br /> <br />of calves on irrigated pastures. Net ranch income in the plan, with additional water <br /> <br />and land, is $16,976, and return to operator's labor is $6,331. The net gain shown <br /> <br />wi th the project and adjustments in ranch organization and operation as indicated is <br /> <br />$8,704.00. As mentioned previously, this may overstate the actual gain attributable <br /> <br />to the project due to the previous understocked situation. <br /> <br />Case-Study Ranch III.--Ranch III sells predominantly calves, holding only a few <br /> <br />light calves back for sale as yearlings. This ranch has a carrying capacity for <br /> <br />about 200 head of cows and heifers to calve, to~ether with necessary replacements, <br /> <br />and hold-over light calves, bulls, and horses. Of the four ranches considered, <br /> <br />Ranch III was the most dependent upon deeded land. Even here, however, a little <br /> <br />over two sections of dry rangeland were being leased. This ranch also had a National <br /> <br />Forest permit. Investment requirements per breeding cowan Ranch III liere $533 <br /> <br />for land and buildings and $839 for total investment. On an animal-unit basis, <br /> <br />investment was $463 in land and buildinrs and $702 total. This was the highest <br /> <br />investment for any of the four ranches considered and reflects the relatively higher <br /> <br />dependence upon deeded land and the owned Forest permit on Ranch III. <br /> <br />I <br />