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Expected values for costs of inputs, value of gain, total cost, and animal response (grazing days, average daily gain, and total gain), gross revenue, and net return to land averaged across the 2002, 2003, and 2004 seasons in response to either grazing alfalfa full-season or an August termination.

 
Economic variable Management system
Full-season grazing August termination
Preplant herbicide cost ($ ha−1) 70.99 70.99
Phosphorus application costs ($ ha−1) 117.04 117.04
Seedbed preparation costs ($ ha−1) 108.64 108.64
Seed and establishment costs ($ ha−1) 328.40 328.40
Postemergent pest management ($ ha−1) 111.88 111.88
Total establishment costs ($ ha−1) 736.94 736.94
Establishment costs amortized over 3 yr at 7.5% annual percentage rate ($ ha−1) 283.38 283.38
Annual phosphorus costs ($ ha−1) 117.04 117.04
Annual pest management cost ($ ha−1) 111.88 111.88
Bloat prevention block ($ ha−1) 20.74 20.74
Interest on operating capital ($ ha−1) 67.01 44.27
Total establishment plus annual costs ($ ha−1) 583.53 560.79
Grazing days (d ha−1) 483 a† 361 b
Average daily gain (kg head−1 d−1) 0.93 a 1.05 a
Total gain (kg ha−1) 449 a 379 a
Value of gain ($ kg−1) 2.03 1.81
Gross revenue ($ ha−1) 898.17 706.07
Expected net return ($ ha−1) 314.64 a 145.31 b
Means followed by the same letter within a row do not differ by the LSMEANS test (P > 0.05).