TABLE 1
FARM INCOME STATEMENT, 2001
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 452 90 91
CASH FARM INCOME
Barley 10,139 9,623 16,767
Beans, Garbonzo 199 - 563
Beans, Navy 426 80 89
Beans, Pinto 4,168 3,124 8,659
Buckwheat 198 201 673
Canola 9,744 11,043 13,851
Corn 3,399 2,848 6,502
Crambe 191 240 19
Flax 4,134 5,984 6,056
Hay, Alfalfa 411 716 116
Hay, Mixed 705 545 909
Lentils 149 - 512
Oats 328 782 174
Peas, Field 539 372 1,286
Potatoes 573 - 2,848
Safflower 287 - 970
Soybeans 5,140 6,096 8,979
Sugar Beets 284 1,425 -
Sunflowers 8,787 4,236 14,695
Sunflowers, Confectionary 3,838 7,549 3,654
Wheat, Durum 10,206 6,770 20,309
Wheat, Spring 34,522 34,431 67,417
Wheat, Winter 388 44 1,426
Rented Out 221 46 288
Other crops 76 - 379
Miscellaneous crop income 352 242 731
Beef Bulls 1,371 360 2,802
Beef Calves 12,454 10,394 12,615
Beef Replacement Heifers 1,333 873 2,254
Background Beef 24,954 15,077 51,019
Finish Beef Calves 4,047 2,489 9,758
Finish Yrlg Steers 286 - -
Grazing Beef 1,232 2,380 -
Milk 9,247 2,312 27,739
Dairy Calves 461 445 1,443
Dairy Replacement Heifers 342 - 346
Dairy Steers 445 387 698
Farrow to Finish Hogs 562 1,572 -
Finish Feeder Pigs 1,463 731 326
Lamb Finishing 132 610 -
Finish Cull Cows 365 105 1,460
Cull breeding livestock 4,028 2,083 8,069
Misc. livestock income 913 600 2,058
Gov't Transition payments 24,112 24,547 36,487
Other government payments 26,654 29,561 37,505
CRP payments 1,820 1,391 2,118
Custom work income 2,680 1,887 2,112
Patronage dividends, cash 651 381 1,260
Insurance income 24,930 30,885 27,862
Cash from hedging accts 250 535 554
Other farm income 4,712 3,805 8,469
Gross Cash Farm Income 248,851 229,807 414,824
TABLE 1
FARM INCOME STATEMENT, 2001 (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 452 90 91
CASH FARM EXPENSE
Seed 11,247 11,773 15,429
Fertilizer 21,161 21,579 36,518
Crop chemicals 18,772 21,073 31,584
Crop insurance 9,129 10,218 11,590
Drying fuel 106 135 180
Irrigation energy 66 7 109
Crop marketing 867 1,816 908
Crop miscellaneous 1,879 2,143 2,887
Feeder livestock purchase 11,490 13,370 27,009
Purchased feed 8,487 5,624 15,734
Breeding fees 143 31 387
Veterinary 1,954 1,034 3,249
Livestock supplies 1,538 1,060 2,743
Livestock leases 299 424 37
Grazing fees 280 - 1,185
Livestock marketing 910 534 1,580
Interest 18,828 22,403 20,842
Fuel & oil 13,367 14,011 18,609
Repairs 18,531 20,248 23,790
Custom hire 7,268 8,192 11,288
Hired labor 6,664 6,831 15,423
Land rent 26,772 31,800 38,305
Machinery & bldg leases 3,029 2,831 4,767
Real estate taxes 2,435 2,120 3,313
Farm insurance 3,238 3,250 4,605
Utilities 3,173 3,134 4,276
Dues & professional fees 805 726 1,588
Hedging account deposits 590 1,065 1,123
Miscellaneous 4,524 4,774 6,570
Total cash expense 197,552 212,206 305,629
Net cash farm income 51,299 17,601 109,194
INVENTORY CHANGES
Crops and feed 6,212 -5,063 17,099
Market livestock 2,248 -2,119 5,188
Accounts receivable -10,138 -15,771 -231
Prepaid expenses and supplies 1,086 2,336 3,205
Accounts payable -1,541 -3,829 -525
Total inventory change -2,134 -24,447 24,735
Net operating profit 49,164 -6,846 133,929
DEPRECIATION AND OTHER CAPITAL ADJUSTMENTS
Breeding livestock -2,517 -4,294 -3,122
Machinery and equipment -13,130 -14,799 -19,724
Buildings and improvements -1,136 -1,158 -1,663
Other farm capital 28 -341 961
Total depr. and other capital adj -16,756 -20,591 -23,547
Net Farm Income 32,408 -27,437 110,382
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