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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,
…
Grain Sorghum
16
Crop Acres 354 392 … 7.24
CropInsurance Proceeds 3,466.23 0.16 … 121.26
Crop Futures (288.00) (0.01) (0.81 …
Sunflowers
14 11
Crop Acres 171 195 … 0.18 3.18
CropInsurance Proceeds 901.08 0.28 … 21.71
Seed / Other Crop Expense 4,846.08 1.53 …
Corn Silage
14
Crop Acres 54 53 … 12.59
CropInsurance Proceeds 183.62 0.20 … 17.99
Seed / Other Crop Expense 3,244.10 3.57 …
Grain Sorghum
37
Crop Acres 224 235 … 0.17 0.00 0.00 0.00
CropInsurance Proceeds 568.53 0.03 … 8,516.25 0.65 36.24
Crop Futures (22.94) (0.00) (0.10 …
Corn Silage
16
Crop Acres 73 142 … 0.00 0.00 0.00 0.00 0.00
CropInsurance Proceeds 88.07 0.10 … 13.38
Seed / Other Crop Expense 2,898.97 3.14 …
Corn Silage
9
Crop Acres 79 63 … 0.89) (15.60)
CropInsurance Proceeds 2,010.91 1.22 25.52 … 38.45
Seed / Other Crop Expense 5,073.49 3.08 …
No-Till Sunflowers
8
Crop Acres 306 365 … 0.05 0.63
CropInsurance Proceeds 5,884.68 1.75 … 9.05
Seed / Other Crop Expense 7,243.03 2.15 …
Grain Sorghum
13
Crop Acres 192 172 … 0.17
CropInsurance Proceeds 2,109.06 0.19 … 12,519.85 3.42 72.79
Crop Futures 0.00 0.00 0.00 0.00 …
Sorghum Silage
14
Crop Acres 56 47 … 0.38 34.27 0.05 0.73
CropInsurance Proceeds 351.42 0.56 … 890.17 1.32 18.94
Seed / Other Crop Expense 626.63 1.00 …