Sheep ranching in southeastern New Mexico

Introduction; Purpose of study; Description of area; Topography and precipitation; Stock water facilities; Vegetation; Market and transportation; Climatic and economic conditions during period of study; Climatic conditions; Economic conditions; Ranch organization; Size of ranch; Distribution of capital investment; Numbers and kinds of livestock grazed; Ranch profit, income, and expense; Percent return on invested equity; Income per section of land; Variation between ranches of ranch income per section of land and return on equity investment; Production and value of wool and mutton; Variation in lamb and wool production on individual ranches; Cash operating expense; Variation in amount and cost of labor; Feed and lease expense; Management practices; Productive value of range land; Family-sized ranch unit; When to buy a sheep ranch; Summary; AppendixBulletin containing data and analyses from a five-year study of sheep ranching in southeastern New Mexico