TABLE 1
FARM INCOME STATEMENT, 2000
North Dakota Farm Business Management Education Program
State Report
(Farms Sorted By Net Farm Income)
Avg. Of
All Farms Low 20% High 20%
Number of farms 475 95 95
CASH FARM INCOME
Barley 9,490 6,928 16,604
Beans, Garbonzo 94 - 354
Beans, Navy 337 - 876
Beans, Pinto 1,757 703 3,252
Buckwheat 134 31 403
Canola 8,916 6,901 13,139
Corn 2,033 1,242 4,254
Crambe 350 223 414
Flax 2,407 1,892 3,134
Hay, Alfalfa 217 327 63
Hay, Grass 56 197 1
Hay, Mixed 241 429 22
Mustard Seed 161 - -
Oats 271 631 142
Peas, Field 282 159 267
Potatoes 759 3,795 -
Rye 58 103 45
Safflower 424 - 1,556
Soybeans 3,165 2,337 6,288
Sunflowers 5,243 4,066 9,362
Sunflowers, Confectionary 6,382 4,672 13,762
Wheat, Durum 10,875 12,320 12,230
Wheat, Spring 22,981 17,836 44,742
Wheat, Winter 1,317 39 4,981
Rented Out 102 248 39
Other crops 117 - 234
Miscellaneous crop income 256 157 102
Beef Bulls 1,618 11 5,640
Beef Calves 12,464 6,535 9,212
Beef Replacement Heifers 1,252 564 723
Background Beef 21,557 12,531 39,550
Finish Beef Calves 1,488 1,968 4,688
Grazing Beef 1,385 2,073 2,779
Milk 7,585 2,822 13,457
Dairy Calves 282 299 31
Dairy Replacement Heifers 232 252 -
Dairy Steers 368 118 624
Farrow to Finish Hogs 431 1,030 733
Feeder Pigs 241 - 1,205
Finish Feeder Pigs 1,295 962 4,037
Lamb Finishing 94 472 -
Finish Beef Cull Cows 1,111 603 4,542
Bison Calves 526 2,372 -
Finish Bison Calves 152 662 -
Cull breeding livestock 3,548 1,867 6,075
Misc. livestock income 800 1,427 741
CRP payments 2,219 1,858 3,124
Gov't Transition payments 29,212 20,805 50,233
Other government payments 33,260 20,387 56,561
Custom work income 1,980 2,350 2,579
Patronage dividends, cash 906 505 1,714
Insurance income 24,437 12,826 54,201
Cash from hedging accts 178 106 505
Other farm income 4,397 4,269 6,423
Gross Cash Farm Income 231,441 164,908 405,641
TABLE 1
FARM INCOME STATEMENT, 2000 (Continued)
North Dakota Farm Business Management Education Program
State Report
(Farms Sorted By Net Farm Income)
Avg. Of
All Farms Low 20% High 20%
Number of farms 475 95 95
CASH FARM EXPENSE
Seed 10,896 8,735 18,032
Fertilizer 18,444 12,496 34,649
Crop chemicals 17,480 13,440 31,622
Crop insurance 8,494 5,273 14,877
Drying fuel 126 63 440
Crop marketing 1,208 1,248 1,660
Crop miscellaneous 2,069 1,343 5,461
Feeder livestock purchase 9,757 10,001 26,854
Purchased feed 6,799 5,664 10,713
Breeding fees 140 78 228
Veterinary 1,766 1,081 2,704
Livestock supplies 1,435 1,041 2,478
Livestock leases 354 120 187
Grazing fees 187 90 249
Livestock marketing 1,127 553 2,460
Interest 19,790 20,878 25,636
Fuel & oil 12,203 9,519 18,205
Repairs 17,967 15,151 26,249
Custom hire 6,835 6,178 11,492
Hired labor 5,939 4,591 11,137
Land rent 25,563 18,555 41,701
Machinery & bldg leases 3,049 2,616 6,092
Real estate taxes 2,523 2,212 3,643
Farm insurance 3,092 2,941 4,304
Utilities 3,030 2,755 3,865
Dues & professional fees 828 635 1,350
Hedging account deposits 620 326 1,887
Miscellaneous 4,548 4,487 6,648
Total cash expense 186,270 152,072 314,826
Net cash farm income 45,172 12,837 90,816
INVENTORY CHANGES
Crops and feed 12,556 -2,104 42,238
Market livestock 4,286 2,798 8,592
Accounts receivable 6,036 -1,520 16,381
Prepaid expenses and supplies 730 -525 1,969
Accounts payable -1,700 -4,830 106
Total inventory change 21,908 -6,181 69,285
Net operating profit 67,079 6,656 160,101
DEPRECIATION AND OTHER CAPITAL ADJUSTMENTS
Breeding livestock -75 -1,677 2,012
Machinery and equipment -12,368 -11,279 -19,469
Buildings and improvements -935 -987 -1,590
Other farm capital 321 -200 1,382
Total depr. and other capital adj -13,057 -14,143 -17,665
Net farm income 54,022 -7,487 142,437