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Summary Book - All Counties
positive net farm income.
Crop yields were generally above … average of 37.5 bu/ac. Fall crops that
survived spring hail … more details on the dryland crop enterprises, page 51 for …
Summary Book - All Counties
experiencing financial distress.
Crop yields were scattered as … wheat was very good, fall crops were average to above, and … to above, and
irrigated crops struggled. As a whole, 2019 …
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,
…
Reduced-Till Grain Sorghum, Non-Irrigated Reduced-Till Grain Sorghum
22.18
15.32 526 %2.9118.23CropInsurance Proceeds 16.28
-6.61 -76 … 18 %5.694.64General Farm Insurance 6.22
0.00 0 %0.000.00Conservation … 35 %19.5712.72Seed/Other Crop Expense 13.10
-6.10 -38 …
Reduced-Till Soybeans, Non-Irrigated Reduced-Till Soybeans
16.78
-5.15 -36 %14.399.24CropInsurance Proceeds 18.53
8.86 341 … 16 %5.626.50General Farm Insurance 5.27
0.65 0 %0.000.65Conservation … 10 %59.7253.77Seed/Other Crop Expense 46.36
-2.53 -21 …
Reduced-Till Wheat, Non-Irrigated Reduced-Till Wheat
12.95
-2.94 -35 %8.365.42CropInsurance Proceeds 9.42
-1.98 -46 … 25 %5.664.27General Farm Insurance 4.91
0.04 0 %0.000.04Conservation … 6 %10.9510.31Seed/Other Crop Expense 9.00
-0.16 -2 %9.279 …
No-Till Corn, Non-Irrigated No-Till Corn
11.22
-30.93 -93 %33.262.34CropInsurance Proceeds 27.69
-0.28 -5 … 59 %9.293.83General Farm Insurance 6.13
-1.85 -100 %1.850.00Conservation … 45 %77.6342.52Seed/Other Crop Expense 59.65
3.34 22 %14.86 …
No-Till Grain Sorghum, Non-Irrigated No-Till Grain Sorghum
10.35
-2.78 -54 %5.152.37CropInsurance Proceeds 1.51
-0.95 -45 … 52 %5.642.73General Farm Insurance 3.77
-0.06 -100 %0.060.00Conservation … 17 %13.7511.48Seed/Other Crop Expense 15.88
0.28 2 %11.251 …
No-Till Soybeans, Non-Irrigated No-Till Soybeans
16.64
-16.40 -78 %20.934.53CropInsurance Proceeds 3.66
-3.53 -56 … 50 %9.624.82General Farm Insurance 5.57
-1.17 -92 %1.270.10Conservation … 20 %64.8951.96Seed/Other Crop Expense 56.62
0.29 3 %10.611 …