TABLE 12
NONFARM INCOME, OPERATOR AND LABOR INFORMATION
Minnesota and North Dakota Farm Business Mgmt. Education
Red River Valley, 2004
(Farms Sorted By Net Farm Income)
Avg. Of
All Farms Low 20% 40 - 60% High 20%
Number of farms 230 46 46 46
NONFARM INCOME
Nonfarm wages & salary 11,715 15,242 11,974 6,286
Net nonfarm business income 960 1,141 91 859
Nonfarm rental income 763 2,678 100 76
Nonfarm interest income 133 52 34 348
Nonfarm cash dividends 483 1,737 - 603
Tax refunds 158 168 261 18
Other nonfarm income 912 310 374 1,139
Total nonfarm income 15,123 21,327 12,833 9,328
OPERATOR INFORMATION
Average number of operators 1.1 1.0 1.1 1.2
Average age of operators 44.1 45.4 41.0 46.2
Average number of years farming 21.0 22.3 18.1 24.2
RESULTS PER OPERATOR
Working capital 100,688 -2,685 78,024 266,477
Total assets (market) 1,482,113 1,227,081 1,298,476 2,143,668
Total liabilities 652,780 633,406 633,843 767,249
Net worth (market) 829,332 593,675 664,633 1,376,420
Net worth excl deferred liabs 942,782 675,304 768,943 1,548,304
Gross farm income 489,947 367,199 471,464 731,462
Total farm expense 411,955 384,559 403,259 554,208
Net farm income 77,992 -17,361 68,206 177,253
Net nonfarm income 13,566 21,144 12,048 7,528
Family living & tax withdrawals 61,772 53,039 55,765 79,251
Total acres owned 338.2 316.8 294.8 397.8
Total crop acres 1,548.3 1,419.3 1,563.2 1,967.7
Crop acres owned 315.2 275.2 274.5 387.6
Crop acres cash rented 1,157.6 1,084.4 1,257.3 1,425.6
Crop acres share rented 75.5 59.7 31.4 154.6
Total pasture acres 1.9 - - 8.4
LABOR ANALYSIS
Number of farms 230 46 46 46
Total unpaid labor hours 1,918 1,673 1,925 2,239
Total hired labor hours 1,344 1,203 1,083 2,117
Total labor hours per farm 3,262 2,875 3,008 4,356
Unpaid hours per operator 1,721 1,658 1,807 1,807
Value of farm production / hour 166.60 128.81 166.02 205.90
Net farm income / unpaid hour 45.33 -10.47 37.74 98.09
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