Extraction of leaf protein concentrate (Pro-Xan) from alfalfa for use in various livestock feeds provides new investment opportunities under a wide variety of conditions. This report evaluates four systems for making this extraction and the effect of four variables on the annual rate of return on investment. The four systems differ in the method of expressing juice from the fresh alfalfa and the yield of Pro-Xan. The system in which the fresh alfalfa is ground prior to pressing, and which has a Pro-Xan yield of 12 percent, had the highest rate of return on investment. The four variables evaluated were the method of utilizing the press cake remaining after the Pro-Xan containing juice is expressed, the method of disposition of alfalfa solubles remaining after the Pro-Xan is recovered from the juice, the length of operating season, and the size of the processing plant. The most profitable method of solubles disposition is dependent upon the feasibility of disposing of them in a nearby irrigation system, the price that can be obtained for them when concentrated for use as a feed ingredient, and the price of natural gas.