000134452 001__ 134452
000134452 005__ 20180122222935.0
000134452 037__ $$a1187-2016-93800
000134452 041__ $$aen_US
000134452 245__ $$aFinancial Characteristics of North Dakota Farms 2002-2011
000134452 260__ $$c2012-09
000134452 269__ $$a2012-09
000134452 270__ $$mandrew.swenson@ndsu.edu$$pSwenson,   Andrew L.
000134452 300__ $$a36
000134452 336__ $$aReport
000134452 490__ $$aAgribusiness & Applied Economics Report
000134452 490__ $$a700
000134452 520__ $$aThe performance of over 500 North Dakota farms, 2002-2011, is summarized using 16 financial
measures. Farms are categorized by geographic region, farm type, farm size, gross cash sales, farm
tenure, net farm income, debt-to-asset, and age of farmer to analyze relationships between financial
performance and farm characteristics. Five-year averages, 2006-2010, are also presented. In 2011,
median and average acreage per farm was 1,968 and 2,619, respectively. Median and average cash farm
revenue was $569,268 and $757,134, respectively. Over 70% of farms were crop farms and 54 percent of
farms had gross sales exceeding $500,000. Median age of farm operators was 47.
Median net farm income in 2011 was $144,414, second highest in the past 10 years, down from $174,010
in 2010. Financial measures for 2011, 2010, 2008 and 2007 were much superior to those in other years
for the 2002-2011 period. The Red River Valley and crop farms typically had stronger profitability,
solvency, and repayment capacity from 2002 to 2011 than other regions and farm types, respectively.
Exceptions were 2007 and 2009 when the north central region had the best regional performance and
2005 when the south central region and livestock farms had better performance. The 2011 median net
farm income was $185,822 for crop farms and $61,244 for livestock farms.
Farms with sales less than $500,000 were over three times as likely to have debt-to-asset higher than 70
percent as farms with sales greater than $500,000. Farms that own some crop land, but less than 40
percent of the land they operate were more likely to be crop farms, farm more acreage, have larger sales,
and be more profitable. As expected, solvency and percent of crop land owned increased with farmer age.
Median net farm income as a percent of gross revenue was the highest of the decade in 2010, 33.1
percent, and the lowest in 2009, 13.4 percent. It was 27.5 percent in 2010, 24 percent in 2008 and 30.6
percent in 2007 after ranging from 22.4 to 14 percent between 2002 and 2006
000134452 542__ $$fLicense granted by Edie Watts (edie.watts@ndsu.edu) on 2012-09-25T14:52:34Z (GMT):

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000134452 650__ $$aFarm Management
000134452 650__ $$aFinancial Economics
000134452 6531_ $$aFarm financial management
000134452 6531_ $$afarm management
000134452 6531_ $$afarm income
000134452 6531_ $$aliquidity
000134452 6531_ $$asolvency
000134452 6531_ $$aprofitability
000134452 6531_ $$arepayment capacity
000134452 6531_ $$afinancial efficiency
000134452 6531_ $$afinancial benchmarks
000134452 6531_ $$atenure
000134452 6531_ $$aNorth Dakota.
000134452 700__ $$aSwenson, Andrew L.
000134452 8564_ $$s1126508$$uhttp://ageconsearch.umn.edu/record/134452/files/AAE700.pdf
000134452 887__ $$ahttp://purl.umn.edu/134452
000134452 909CO $$ooai:ageconsearch.umn.edu:134452$$pGLOBAL_SET
000134452 912__ $$nSubmitted by Edie Watts (edie.watts@ndsu.edu) on 2012-09-25T14:55:40Z
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  Previous issue date: 2012-09
000134452 982__ $$gNorth Dakota State University>Department of Agribusiness and Applied Economics>Agribusiness & Applied Economics Report
000134452 980__ $$a1187