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County Summary
Colby Office
P.O. Box 841
1975 W 4th St
Colby, KS 67701
Ph: 785‐462‐6664
Fax: 785‐462‐3863
kfmanw@listserv.ksu.edu
May 1, 2016
Dear Farm Managers and Friends,
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 40 farms of the 153 in the entire 2015 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 2015 from 2014, 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 25% 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,
…
Enterprise Profit Center Summary
Sow and Litter – Sell Market Hogs (State … 23
Nonirrigated Crop Enterprise Net Returns to … Received for Nonirrigated Crops (State …
Summary Book - All Counties
16
Crop Value and Cost Comparison … 25
Crop Value and Cost Trends, 10 … 42
Non-irrigated Analysis Crop Yields, 10-Year Trend …
Summary Book - All Counties
wheat yields and increasing crop
values towards the end of … profitability despite lower fall crop yields. Value of Farm Production … well above average, but fall crops had a tough year and were …
Summary Book - All Counties
2016…………………………………………………..……….. 6
GOVT. PAYMENTS VS CROP INS 1996-2016CROP ENT RETURNS…….... 7
SE … WESTERN……………………………………………………………………………………. 29
CROP ENTERPRISES…………………………………………………………………………… …
Enterprise Profit Center Summary
Sow and Litter – Sell Market Hogs (State … 24
Nonirrigated Crop Enterprise Net Return to … Received for Nonirrigated Crops (State …
Summary Book - All Counties
13
Crop Machinery Cost & Investment … 15
Comparison of Crop Expense/Harvested Acres … 16
Non-Irrigated Crop Acres, KFMA, NW (Table 10 …
Summary Book - All Counties
13
Crop Machinery Cost & Investment … 15
Comparison of Crop Expense/Harvested Acres … 16
Non-Irrigated Crop Acres, KFMA, NW (Table 10 …
Enterprise Profit Center Summary
Sow and Litter – Sell Market Hogs (State … SE)...................................................... 19
Non-Irrigated Crop Enterprise Net Returns to … Received for Non-Irrigated Crops (State …
Summary Book - All Counties
increase in Net Farm Income. Crop
production income more than … 2006 to $564,981 in 2007. Crop expenses,
energy, repairs … when
compared with 2006. Crop expenses increased $83,275 …