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Displaying 3211 - 3220 of 3294
Prairie Hay
HAY
11Number of Farms 9
118Crop Acres 84
35Acres Owned 19
83Acres … 1.742.24147.23
74.28 0.51 0.63Seed/Other Crop Expense 3.134.02264.22
158.24 … 1.852.38156.68
76.82 0.53 0.65Fees, Publications, Travel 0.450.5837.88
1,065.17 …
September 1, 2005
Farm Business and Transition Planning
products or services, target markets, and
work force composition … enterprise mix) of the business
Marketing practices (traditional or
unique)
How … operator to put up alfalfa crop beginning this year:
Schedule …
Summary Book - All Counties
The Kansas Farm Management Association located in Northwest Kansas has been producing a subset analysis
summary report that includes data from Norton, Graham, Trego, Ness, Phillips, Rooks, Ellis, and Rush Counties over the past
few years. An important reason for this “subset” analysis of 33 farms of the 123 in the entire 2014 KFMA, NW summary is to
provide data and reports that are representative of farms in the counties listed. Farms in “western” Northwest Kansas are
usually larger in acreage and also use irrigation farming. That creates a situation where the whole farm and enterprise data
from western counties has limited value to eastern counties, and also the other way around. The table below highlights four
areas of comparison:
Income Measures include Value of Farm
Production, which is an adjusted accrual gross revenue
with cash feed costs subtracted. Net Farm Income on
the accrual basis includes Value of Farm Production
minus cash expenses and management depreciation.
The management depreciation used is NOT tax
depreciation, but rather an economic depreciation that
is intended to reflect actual economic cost of ownership
and use over time.
Financial Measures include the rate of return
on assets and equity. Net return to capital (NFI minus
Operator Labor charges) is divided into average assets
and equity. Note that in the west and east columns the
% return on Assets is slightly larger than equity. This
means the farms in the analysis are earning a lower
return on borrowed money than the cost of the money.
Current ratios declined in 2014 from 2013, but are still
strong. Debt to Asset ratio remains low and very
strong.
Measures of Size and Intensity are simply a
measure of the acres on these farms and cropping
(harvesting) intensity. Also the number of beef cows on
average that these regions operated.
Labor Efficiency is a measure of how intensely the farms are utilizing their hired and operator labor. The number of
workdays on a farm is also a measure of size. Western farms by work days are 29% larger on average than the Eastern farms in
the analysis. Western farms seem to crank out more VFP and NFI per workday which implies an increase in labor efficiency.
We hope you will find the information in this “Eastern Counties” Summary and Analysis useful and insightful for
evaluating the KFMA, NW members in general and your farm in particular. If you are currently not a member of the Farm
Management Association, NW, consider giving us a call. We are taking applications for membership in all of the KFMA, NW
area.
Sincerely,
…
County Summary
The Kansas Farm Management Association located in Northwest Kansas has been producing a subset analysis
summary report that includes data from Norton, Graham, Trego, Ness, Phillips, Rooks, Ellis, and Rush Counties over the past
few years. An important reason for this “subset” analysis of 33 farms of the 123 in the entire 2014 KFMA, NW summary is to
provide data and reports that are representative of farms in the counties listed. Farms in “western” Northwest Kansas are
usually larger in acreage and also use irrigation farming. That creates a situation where the whole farm and enterprise data
from western counties has limited value to eastern counties, and also the other way around. The table below highlights four
areas of comparison:
Income Measures include Value of Farm
Production, which is an adjusted accrual gross revenue
with cash feed costs subtracted. Net Farm Income on
the accrual basis includes Value of Farm Production
minus cash expenses and management depreciation.
The management depreciation used is NOT tax
depreciation, but rather an economic depreciation that
is intended to reflect actual economic cost of ownership
and use over time.
Financial Measures include the rate of return
on assets and equity. Net return to capital (NFI minus
Operator Labor charges) is divided into average assets
and equity. Note that in the west and east columns the
% return on Assets is slightly larger than equity. This
means the farms in the analysis are earning a lower
return on borrowed money than the cost of the money.
Current ratios declined in 2014 from 2013, but are still
strong. Debt to Asset ratio remains low and very
strong.
Measures of Size and Intensity are simply a
measure of the acres on these farms and cropping
(harvesting) intensity. Also the number of beef cows on
average that these regions operated.
Labor Efficiency is a measure of how intensely the farms are utilizing their hired and operator labor. The number of
workdays on a farm is also a measure of size. Western farms by work days are 29% larger on average than the Eastern farms in
the analysis. Western farms seem to crank out more VFP and NFI per workday which implies an increase in labor efficiency.
We hope you will find the information in this “Eastern Counties” Summary and Analysis useful and insightful for
evaluating the KFMA, NW members in general and your farm in particular. If you are currently not a member of the Farm
Management Association, NW, consider giving us a call. We are taking applications for membership in all of the KFMA, NW
area.
Sincerely,
…
Summary Book - All Counties
57-63
Analysis Factors by Crop Acres … PRODUCTION COMPARISON
Total Crop Acres 1,748
Percent ofCrop Acres Irrigated 34.21%
Total … 506
Machinery Investment/Crop Acre $287.22
Machinery …
Summary Book - All Counties
ultural Econom
nds,
Summary and A
n members fro
One hundred s
ership. The Ass
eping records c
ation is extend
work.
farm income o
come. For the
net income qu
averaged $278
5% in value of
of farm produc
age of $830,31
f the wheat en
eraged betwee
. Non‐irrigated
re in 2012 to 1
averaged 30 b
e summary tha
ions that sell w
ompared with $
from $431.95
n 2013.
d the informat
t to know more
ment Associati
Clint Milliman
mists
Analysis inform
om 17 counties
sixteen farms w
sociation Econ
complete enou
ed to the Asso
f $440,621 rec
e 116 farms in t
uartile groups.
8,776 of net far
farm productio
ction can be att
1 in 2012 to $7
nterprises, all f
en 20 and 22 b
d soybean yield
195 bushels pe
bushels per acr
at begins on pa
weaned calves
$58.79 in 2012
in 2012 to $59
ion useful and
e about how y
ion, NW, consi
mation was pro
s of Northwest
were summari
omists and sta
ugh for analysis
ociation suppor
corded in 2011
the summary,
The bottom 2
rm income. Th
on from an ave
tributed mostl
797,941 on ave
all crop yields
ushels per acre
ds averaged 6
r acre in 2013.
re. Review the
age 37.
experienced a
2. This was acc
98.93 in 2013. H
insightful for e
our farm comp
der giving us a
Shane Ruff
ocessed from t
t Kansas. The lo
ized and repre
aff of the KFMA
s and for sharin
rt staff and the
1, the continuin
net farm incom
25% (29 farms)
he driving force
erage of $1,11
ly to lower cro
erage in 2013.
improved sligh
e while non‐irr
bushels per ac
. Irrigated soyb
e non‐irrigated
an improvemen
complished eve
High valued fe
evaluating the
pares to simila
a call. We are t
…
Summary Book - All Counties
various kinds of livestock and crop income values are computed … for
other livestock and crop items are computed by the … of how hard
you work.
(Crop Labor Standards x # of acres …
Intensity report
farm acres and cropping (harvesting) intensity
for … Measures:
Harvested Acres 3097 1832 2757
Crop Acres 3685 2240 3304
Harvest … Integrated tax planning, marketing and asset investment strategies …
Summary Book - All Counties
May 1, 2016
Dear Farm Managers and Friends,
The 2015 Profit‐link Summary and Analysis information was processed from the farm records of participating Kansas
Farm Management Association members from 17 counties of Northwest Kansas. The location of the participating members is
shown in the map on page 3. One hundred fifty‐three (153) farms were summarized and represent 61% of the Farm
Management Association, NW 2015 membership. The Association Economists and staff of the KFMA, NW wish to say “thank
you” to these families for their efforts in keeping records complete enough for analysis and for sharing their data to be utilized
in this summary. Additional appreciation is extended to the Association support staff and the individuals at the KMAR‐105
Association for their part in this analysis work.
After a good 2014 year with net farm income of $108,532, 2015 took a downhill slide to a net farm income of
$(2,971). After 66 analysis years, this is only the fifth year in the history of KFMA, NW to post a negative net farm income
following 1953, 1956, 1981, and 2002. Although the average net farm income was a small negative, there is a variation of
income across farms. On page 6 you can see a comparison of farms by net income quartile groups. The bottom 25% (39
farms) averaged $‐202,117 of net farm income, while the top 25% (38 farms) averaged $183,650 of net farm income. The
driving force behind the decrease in 2015 average net farm income was a decrease of 21% in value of farm production from
an average of $917,918 in 2014 to only $722,590 in 2015. Total expense also decreased in 2015 to $725,561 but not enough
to avoid a loss on the year.
Although net farm income was negative, crop yields were better in 20 …