Farm Income Statement
Farm Business Management - Moorhead
Northland Community and Technical College
(Farms Sorted By Net Farm Income)
| Avg. Of | ||||
| All Farms | Low 20% | 40 - 60% | High 20% | |
| Number of farms | 78 | 15 | 15 | 16 |
| Cash Farm Income | ||||
| Barley | 3,888 | - | - | 3,935 |
| Barley, Malting | 597 | - | - | 2,911 |
| Beans, Black Turtle | 397 | - | - | - |
| Beans, Navy | 6,869 | - | - | 12,519 |
| Beans, Pinto | 569 | - | - | 2,774 |
| Corn | 21,105 | 4,472 | 26,818 | 31,874 |
| Hay, Alfalfa | 2,557 | 583 | 2,211 | 2,944 |
| Potatoes | 7,719 | - | - | 37,628 |
| Soybeans | 127,288 | 68,485 | 128,010 | 186,832 |
| Sugar Beets | 210,899 | 12,024 | 176,294 | 396,889 |
| Sunflowers | 4,167 | - | 8,302 | 9,964 |
| Sunflowers, Confectionary | 6,586 | - | 10,274 | 5,058 |
| Wheat, Durum | 526 | - | - | 2,564 |
| Wheat, Spring | 100,945 | 40,514 | 99,530 | 167,674 |
| Wheat, Winter | 487 | - | - | - |
| Miscellaneous crop income | 10 | - | 50 | - |
| Beef, Finish Beef Calves | 8,483 | 4,376 | 39,735 | - |
| Honey Production, Honey | 4,310 | - | - | 21,011 |
| CCC market loan gain | 138 | 715 | - | - |
| Misc. livestock income | 749 | - | - | 3,575 |
| Direct & CC govt payments | 29,928 | 11,946 | 29,988 | 46,716 |
| CRP payments | 551 | - | - | 701 |
| Livestock govt payments | 105 | - | 546 | - |
| Other government payments | 20,415 | 5,195 | 14,768 | 29,019 |
| Custom work income | 7,983 | 48 | 1,810 | 22,456 |
| Patronage dividends, cash | 9,004 | 1,756 | 8,382 | 16,971 |
| Insurance income | 15,889 | 6,090 | 14,090 | 13,266 |
| Cash from hedging accts | 1,044 | 1,402 | 315 | 2,365 |
| Other farm income | 16,300 | 11,133 | 6,855 | 30,752 |
| Gross Cash Farm Income | 609,506 | 168,736 | 567,976 | 1,050,397 |
| Cash Farm Expense | ||||
| Seed | 40,133 | 15,527 | 32,477 | 63,312 |
| Fertilizer | 41,875 | 12,866 | 51,258 | 55,555 |
| Crop chemicals | 73,550 | 13,376 | 63,344 | 136,655 |
| Crop insurance | 17,620 | 4,701 | 16,678 | 28,730 |
| Drying fuel | 291 | 65 | 172 | 409 |
| CCC buyback | 4,964 | 6,044 | - | 3,206 |
| Crop marketing | 100 | 106 | - | 13 |
| Crop miscellaneous | 9,859 | 3,247 | 8,586 | 30,989 |
| Feeder livestock purchase | 4,350 | 2,323 | 20,295 | - |
| Purchased feed | 183 | 164 | - | 738 |
| Veterinary | 49 | 37 | 217 | - |
| Livestock marketing | 33 | - | 173 | - |
| Interest | 29,855 | 10,793 | 24,955 | 55,887 |
| Fuel & oil | 19,765 | 4,640 | 18,704 | 34,073 |
| Repairs | 38,849 | 10,161 | 33,201 | 68,103 |
| Custom hire | 9,070 | 4,581 | 5,691 | 13,813 |
| Hired labor | 24,844 | 2,493 | 22,382 | 42,793 |
| Land rent | 119,801 | 29,499 | 114,813 | 194,266 |
| Machinery & bldg leases | 6,573 | 673 | 5,179 | 13,620 |
| Real estate taxes | 4,126 | 2,855 | 3,010 | 8,235 |
| Farm insurance | 8,054 | 3,195 | 6,104 | 13,328 |
| Utilities | 4,763 | 1,869 | 4,695 | 7,822 |
| Dues & professional fees | 4,185 | 1,910 | 3,325 | 6,998 |
| Hedging account deposits | 908 | 1,343 | - | 2,063 |
| Miscellaneous | 6,034 | 2,534 | 4,211 | 10,753 |
| Total cash expense | 469,835 | 135,002 | 439,471 | 791,362 |
| Net cash farm income | 139,671 | 33,735 | 128,505 | 259,036 |
| Inventory Changes | ||||
| Crops and feed | 43,470 | 3,608 | 55,992 | 84,451 |
| Market livestock | 102 | 76 | 401 | 50 |
| Accounts receivable | -32,310 | -6,512 | -36,675 | -44,071 |
| Prepaid expenses and supplies | 9,263 | 872 | 4,055 | 8,762 |
| Accounts payable | 1,914 | -17 | -1,527 | 14,272 |
| Total inventory change | 22,440 | -1,972 | 22,247 | 63,465 |
| Net operating profit | 162,111 | 31,763 | 150,751 | 322,500 |
| Depreciation and Other Capital Adjustments | ||||
| Breeding livestock | 327 | - | -80 | 1,669 |
| Machinery and equipment | -27,895 | -5,981 | -26,907 | -50,242 |
| Buildings and improvements | -1,214 | -653 | -695 | -2,415 |
| Other farm capital | 3,229 | -2,815 | -450 | 12,213 |
| Total depr. and other capital adj | -25,552 | -9,450 | -28,133 | -38,775 |
| Net farm income | 136,558 | 22,313 | 122,619 | 283,725 |